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National CineMedia fiscal 2Q view below Street

By Associated Press
June 11, 2008 | Comments (0)

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National CineMedia Inc., which sells advertising in movie theaters, on Wednesday predicted fiscal second-quarter revenue below what analysts are expecting due in part to "sluggish demand."

National CineMedia shares fell $1.46, or 7.9 percent, to $17 in after-hours trading, after finishing regular trading down 51 cents at $18.46.

The company said Wednesday that it expects between $83 million and $86 million in the quarter; analysts polled by Thomson Financial anticipate about $91 million in revenue, on average.

National CineMedia said that it still expects to record a higher percentage of revenue in the second half of the fiscal year. It blamed the shortfall in part to "sluggish demand" from the TV scatter market, or unsold inventory left over after the upfront season.

The company expects to report its second-quarter results in early August.

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