Business
Reading International Reports Fourth Quarter and Full Year 2021 Results and COVID-19 Business Update
Earnings Call Webcast to Discuss 2021 Fourth Quarter and Full Year Financial Results and COVID-19 Updates Scheduled to Post to Corporate Website on Friday,
About this update from Reading International Inc
[{"type":"text","content":"\nEarnings Call Webcast to Discuss 2021 Fourth Quarter and Full Year Financial Results and COVID-19 Updates Scheduled to Post to Corporate Website on Friday, March 18, 2022\n\n NEW YORK--(BUSINESS WIRE)--\nReading International, Inc. (NASDAQ: RDI), an internationally diversified cinema and real estate company with operations and assets in the United States, Australia, and New Zealand, today announced its results for the fourth quarter and year ended December 31, 2021.\n\nPresident and Chief Executive Officer, Ellen Cotter said, “Our financial results for the fourth quarter 2021 were the strongest quarterly results since the onset of the pandemic. We reported significant improvement in earnings per share, worldwide revenues, and operating income at our global cinemas, despite the continuing pandemic challenges, including government mandated cinema closures for the early part of Q4 2021 in Australia and New Zealand and mandated seating capacity restrictions in certain markets. We were also pleased to announce in February 2022 that, following the completion of construction and lease negotiations through the pandemic, we executed a long-term lease with a national retailer for three levels of our 44 Union Square building in New York City.”\n\n“The recent blockbuster performances of Spider-Man: No Way Home, Uncharted and The Batman at the global box office reinforce our confidence in the recovery of our global cinema business. Additionally, our belief that specialty audiences will continue seeing great films in a shared cinema environment was supported by the recent box office performance of films like The French Dispatch, Licorice Pizza, The Worst Person in the World and Parallel Mothers.”\n\n“To date, our ‘two business/three country’ diversified business strategy has successfully supported our Company. I want to recognize and thank our employees whose dedication and hard work over the last two years have been instrumental in sustaining our Company through these difficult times. Throughout the pandemic, we looked solely to our own resources and took the steps that were, in our view, the most likely to protect our Company, our stockholders, employees, lenders and other major stakeholders while at the same time protecting our Company’s future. We re-evaluated our real estate portfolio in light of our liquidity needs and capital constra...