The nation's box office was on a record tear in the first quarter, and while that was good news for the major movie studios, it was even better news for theater owners, if a first-quarter filing by Regal Entertainment Group, the nation's largest theater operator, is any indication. Regal on Tuesday reported net income of $46.3 million on revenue of $684.9 million in the quarter. A year ago it recorded a loss of $23.6 million for the quarter. Regal attributed the turn-around to "a strong film slate combined with our continued focus on cost control." But Regal CEO Amy Miles saw a larger message in the turn-around. "From our perspective, a key takeaway from the first quarter is the continued long-term stability of the domestic box office," she said during a conference call on Tuesday. "Our industry has always experienced and we'll largely continue to experience short-term quarterly fluctuation in box office revenue, primarily related to the commercial appeal of the content in any given period. Recent quarters are no exception."

02/05/2012