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What: Shares of theater operator Regal Entertainment
So what: Revenue for the second quarter was $753.3 million, a slight increase from last year, and earnings per share were $0.23. Revenue was a lower than estimates, but earnings per share topped estimates by $0.04.
Now what: It was a slow year at the box office until the Transformers and Harry Potter hit the big screen, so the better-than-expected results were a bit of a surprise. The strength of the second quarter shows just how successful Regal has been in controlling costs, which should help drive future results. By the look of the first few weeks of July, I think the third quarter will also be better than expected, and Regal has room to run higher.
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Fool contributor Travis Hoium has no position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDraw.
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