NEW YORK, Oct. 06, 2025 (GLOBE NEWSWIRE) -- Reading International, Inc. (NASDAQ: RDI) announced today that Reading will hold its 2025 Annual Meeting of Stockholders (the “2025 Annual Meeting”) virtually through a web-based platform, commencing at 2:00 p.m. Eastern Time, on December 4, 2025. Voting online at the virtual meeting Registered stockholders and duly appointed proxyholders, as of the close of business on October 14, 2025 (the record date for the 2025 Annual Meeting), are entitled to attend the virt ...

Core Insights - Reading International, Inc. reported a total revenue of $60.4 million for Q2 2025, marking a 29% increase from $46.8 million in Q2 2024, driven by strong performance in both cinema and real estate divisions [7][25] - The company achieved an operating income of $2.9 million in Q2 2025, a significant improvement of 138% compared to a loss of $7.7 million in Q2 2024, reflecting the highest operating income since Q2 2019 [7][25] - The cinema segment saw a revenue increase of 32% to $56.8 million in Q2 2025, with operating income rising by 218% to $5.5 million from an operating loss of $4.6 million in Q2 2024 [11][25] Financial Performance - For the first six months of 2025, total revenues reached $100.5 million, a 9% increase from $91.9 million in the same period of 2024 [7][25] - The company reported a net loss attributable to Reading of $2.7 million in Q2 2025, an improvement of 79% compared to a loss of $12.8 million in Q2 2024 [7][25] - Basic loss per share improved by 79% to $0.12 in Q2 2025 from $0.57 in Q2 2024 [7][25] Real Estate Division - The global real estate division reported an operating income increase of 56% quarter-over-quarter and 67% year-over-year, with a notable sale of real property assets in Cannon Park, Australia for AU$32.0 million [6][8] - The U.S. real estate revenues increased by 15% to $1.7 million in Q2 2025, attributed to improved performance of live theatre assets in New York City [11][25] Currency Impact - The average exchange rates for the Australian and New Zealand dollars weakened against the U.S. dollar by 2.7% and 1.9% respectively in Q2 2025, impacting reported operating results as 47% of total revenues are generated from these regions [5][25] Strategic Focus - The company emphasized its commitment to operational efficiency and strategic priorities across its cinema and real estate teams, which contributed to the improved financial performance [8][6] - Upcoming movie releases are expected to bolster cinema revenues, with a robust lineup including titles like TRON: Ares and Zootopia 2 [6][8]

Core Insights - Reading International, Inc. reported a total revenue of $40.2 million for Q1 2025, a decrease of 11% from $45.1 million in Q1 2024, primarily due to lower cinema attendance and unfavorable foreign exchange rates [9][27] - The company experienced an operating loss of $6.9 million, which improved by 8.5% compared to the operating loss of $7.5 million in Q1 2024, marking the best first quarter operating result since 2019 [9][28] - The real estate division saw a significant increase in operating income, up 79% to $1.6 million compared to $890,000 in Q1 2024, driven by the sale of property assets [7][28] Financial Performance - Global cinema revenue decreased by 12% to $36.4 million, with an operating loss of $4.5 million, compared to a loss of $4.2 million in Q1 2024 [8][9] - The company recorded a positive EBITDA of $2.9 million, an improvement of 173% from an EBITDA loss of $4.0 million in Q1 2024 [9][29] - Basic loss per share improved by 64% to $0.21 from $0.59 in Q1 2024, with a net loss attributable to Reading of $4.8 million, down from $13.2 million in the same period last year [9][24] Operational Highlights - The cinema business faced challenges due to a weaker film slate and the lingering impacts of the 2023 Hollywood strikes, leading to lower attendance across all markets [5][6] - The company closed two underperforming cinemas, one in the U.S. and one in New Zealand, as part of its strategy to enhance operational efficiency [5][6] - The real estate division achieved its highest operating income since Q2 2018, with a notable sale of real property assets in Wellington, New Zealand for NZ$38.0 million, resulting in a gain of NZ$11.6 million [7][9] Balance Sheet and Liquidity - As of March 31, 2025, the company reported cash and cash equivalents of $5.9 million and total gross debt of $186.6 million, a decrease of 7.9% from the previous quarter [12][25] - The total assets decreased to $441.0 million from $471.0 million as of December 31, 2024, reflecting the impact of asset sales and operational adjustments [25][26] - The company is contracted to sell additional real estate assets in Australia for AU$32 million, with plans to use the proceeds to pay down debt [12]