Exhibit 99.1
For Immediate Release
Contact: Robert Copple or Nikki Sacks
972-665-1500
CINEMARK HOLDINGS, INC. REPORTS RESULTS FOR SECOND QUARTER 2008
Plano, TX, August 8, 2008 – Cinemark Holdings, Inc. (NYSE: CNK), a leading motion picture
exhibitor, today reported results for the three and six months ended June 30, 2008.
Cinemark Holdings, Inc.’s revenues for the three months ended June 30, 2008 increased 3.9% to
$457.2 million from $440.0 million for the three months ended June 30, 2007. Admissions revenues
increased 4.0% and concession revenues increased 2.2%. The increases were primarily related to an
8.3% increase in average ticket prices and a 6.4% increase in concession revenues per patron.
Adjusted EBITDA for the three months ended June 30, 2008 increased 2.9% to $99.8 million from $97.0
million for the three months ended June 30, 2007. The Company’s Adjusted EBITDA margin was 21.8%
for the three months ended June 30, 2008. Reconciliations of non-GAAP financial measures are
provided in the financial schedules accompanying this press release.
Income before income taxes increased 23.4% to $27.4 million for the three months ended June 30,
2008 from $22.2 million for the three months ended June 30, 2007. Net income for the three months
ended June 30, 2008 was $15.5 million compared to net income of $47.9 million for the three months
ended June 30, 2007. Net income for the three months ended June 30, 2007 included an income tax
benefit of $25.7 million.
“A strong slate of movies released at the end of May and throughout June allowed us to achieve
revenue and Adjusted EBITDA growth for the quarter despite a weak start to April and difficult
comparisons in the month of May,” stated Alan Stock, Cinemark’s Chief Executive Officer. “While
third quarter comparisons are challenging, the quarter-to-date box office is tracking slightly
better than expected due to the strong performance of films such as The Dark Knight, which set a
new record for a one-day opening and a three-day opening weekend and helped lead the box office to
its highest grossing seven-day week ever. We believe this film’s success, as well as the overall
strength of the June box office, are further evidence of the resiliency of the box office in
difficult economic periods as consumers continue to frequent theatres when there is attractive
content. Furthermore, our digital cinema initiative plan recently took a significant step forward
with the first signing of a contract by a major studio, which leads us to believe that we will be
able to begin our digital and 3-D rollout towards the end of this year.”
Cinemark Holdings, Inc.’s revenues for the six months ended June 30, 2008 increased 4.9% to $858.2
million from $818.0 million for the six months ended June 30, 2007. Admissions revenues increased
5.6% and concession revenues increased 4.0%. The increases were primarily related to a 7.4%
increase in average ticket prices and a 5.8% increase in concession revenues per patron.
Adjusted EBITDA for the six months ended June 30, 2008 increased 3.9% to $184.0 million from $177.1
million for the six months ended June 30, 2007. The Company’s Adjusted EBITDA margin was 21.4% for
the six months ended June 30, 2008. Reconciliations of non-GAAP financial measures are provided in
the financial schedules accompanying this press release.
Net income for the six months ended June 30, 2008 was $20.8 million compared to net income of
$166.1 million for the six months ended June 30, 2007. Net income for the six months ended June 30,
2007 included a gain of
$210.8 million related to the sale of a portion of our investment in National CineMedia, LLC and
non-cash impairment charges of $56.8 million.
On June 30, 2008, the Company’s aggregate screen count was 4,706, with screens in the United
States, Canada, Mexico, Argentina, Brazil, Chile, Ecuador, Peru, Honduras, El Salvador, Nicaragua,
Costa Rica, Panama and Colombia. As of June 30, 2008, the Company had signed commitments to open
eleven new theatres with 107 screens by the end of 2008 and open eight new theatres with 120
screens subsequent to 2008.
Conference Call
The Company will host a conference call and audio webcast with investors, analysts and other
interested parties today at 8:30 A.M. Eastern time. The call can be accessed live over the phone by
dialing (800) 374-1346, or for international callers, (706) 679-3149. The passcode is 45975338. A
replay will be available shortly after the call and can be accessed by dialing (800) 642-1687, or
for international callers, (706) 645-9291. The passcode for the replay is 58449187. The replay will
be available until August 11, 2008. Additionally, a live audio webcast will be available to
interested parties at www.cinemark.com under the Investor Relations section.
About Cinemark Holdings, Inc.
Headquartered in Plano, TX, Cinemark is a leader in the motion picture exhibition industry. As of
June 30, 2008, Cinemark operates 412 theatres and 4,706 screens in 38 states in the United States
and internationally in 12 countries, mainly in Mexico, South and Central America. For more
information go to www.cinemark.com.
Forward-looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. The “forward-looking statements” include our current expectations, assumptions, estimates
and projections about our business and our industry. They include statements relating to future
revenues, expenses and profitability, the future development and expected growth of our business,
projected capital expenditures, attendance at movies generally or in any of the markets in which we
operate, the number or diversity of popular movies released and our ability to successfully license
and exhibit popular films, national and international growth in our industry, competition from
other exhibitors and alternative forms of entertainment and determinations in lawsuits in which we
are defendants. You can identify forward-looking statements by the use of words such as “may,”
“should,” “will,” “could,” “estimates,” “predicts,” “potential,” “continue,” “anticipates,”
“believes,” “plans,” “expects,” “future” and “intends” and similar expressions which are intended
to identify forward-looking statements. These statements are not guarantees of future performance
and are subject to risks, uncertainties and other factors, some of which are beyond our control and
difficult to predict and could cause actual results to differ materially from those expressed or
forecasted in the forward-looking statements. In evaluating forward-looking statements, you should
carefully consider the risks and uncertainties described in the “Risk Factors” section or other
sections in the Company’s Annual Report on Form 10-K filed March 28, 2008 and quarterly reports on
Form 10-Q. All forward-looking statements attributable to us or persons acting on our behalf are
expressly qualified in their entirety by these cautionary statements and risk factors.
Forward-looking statements contained in this press release reflect our view only as of the date of
this press release. We undertake no obligation, other than as required by law, to update or revise
any forward-looking statements, whether as a result of new information, future events or otherwise.
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