Showing films is where Cinemark Holdings really makes its mark. The third-largest movie exhibitor in the US (following Regal Entertainment and AMC) has more than 5,200 screens in some 495 theaters in the US and Latin America. Cinemark operates its multiplex theaters in smaller cities and suburban areas of major metropolitan markets. Some larger theaters operate under the Tinseltown name; others are "discount" theaters showing no first-run films. Nearly 100% of its first-run auditoriums feature stadium seating. The company prefers to build new theaters in midsized markets or in suburbs of major cities where the Cinemark theater is the only game in town.
Cinemark operates theaters in more than 40 US states, as well as Argentina, Brazil, Mexico, and 10 other Latin American countries. The company gets about 75% of its sales from the US market.
Despite a down economy, people still flock to the movies. Cinemark reported $2.63 billion in revenue for fiscal 2014. Although it suffered a slight dip in total annual revenue during fiscal 2014 compared to the previous fiscal period, the company's revenue has been trending upwards in recent fiscal years. Cinemark's net income was $192.6 million in fiscal 2014, an increase of 30% compared to the prior period.
The company's cash on hand remained strong in fiscal 2014. Cimemark reported $454 million in cash on hand, an 47% increase compared to fiscal 2013 levels.
The company's strategy focuses on international expansion primarily in Latin America through construction of modern, state-of-the-art theatres in growing urban markets.
Its adoption of the 3D format is just one way in which Cinemark focuses on being one of the most modern and technologically advanced movie chains. The company has developed a large screen digital format, XD Extreme Digital Cinema, or XD. The format includes wall-to-wall and ceiling-to-floor screens, wrap-around sound, and can play any available digital print.