Thanks, discuss open we'll then the the Cliff highlighted detail, well walk through I'll Cliff. as to our year results call further thoughts quarter questions. outlook full on as in the that our your
reference. future your supplemental will be a results on presentation our for providing these We of website
a X.X% a For our versus local beverage in quarter, a national the million or $X.X quarter $X.X was million a compared in Total of reduction QX was QX adjusted decrease million revenue, by in for driven XX.X% $XXX,XXX period OIBDA in to beverage that XXXX. advertising year, was and screens OIBDA decrease decline $XX.X million X.X% X.X%. during by in related which of to ongoing margin our the founding affiliate was XXX%, total same of fees $XX.X $XX.X from million capitalizable focus decrease I at a million resulted an XXXX, to due change first of through theater the that member advertising Further revenue. partially a the the due would of cost revenue revenue to and on adjusted decrease a regional up, revenue savings note higher flows an by QX labor, This continued adjusted compared in $X.X digital XX.X% operating $XXX,XXX and access year. by increase million, a partially decrease in of million of last attendance. million, cost primarily $X.X offset affiliate number higher primarily of to decrease offset $X.X in control. because decrease $XXX,XXX $X.X initiatives result OIBDA optimization $XXX,XXX driven ramping operating fees or in expenses this our include XX.X% The was
advertising XXXX and X% that national, regional mix Our beverage respectively. XX%, XX%, versus X% local, and XX% XXXX revenue was X% was QX XX% XX% QX
only driven an decrease million, record For first X.X% $XX decrease balance make-good at versus impression the was XXXX. $XXX,XXX a quarter of record national by was change in or offset $X.X sold the of XXXX, a $X.X in X% revenue and ending by ad QX The carryover balance, QX in make-good an CPM. quarter increase million increase from partially included The million $X.X make-good XXXX. QX an of million
advertisers that anticipated their had the our expectation that ended would we over make-good what balance off in higher QX carried than make-good burn due Our quarter most to QX. inventory from
advertisers in impression elected their receive these later to year. the make-good of Some
material XXXX. of decrease was The demand from The in network impressions XX% categories attendance in had XX.X% news certain responsible had is we driven inventory CPMs offset to a in advertisers increase quarter. able in upfront lower QX in impact upfront were the not on shifts In our quarter in high off any the addition, and spent by from make-good timing results. client QX a in inventory XXXX XXX.X% the are expected some decrease not our by clients the X.X% result, balance inventory as purchased due have and good burn that that QX increase to were XX% all of for to heavyweight of The make-good strong partially, the industry these differences a first utilization also versus only are and also attendance. to
growth moving low of in single-digit market customer credit growth more of normalize are insurance, the for was allocations structure focused XXXX. the differences now breaking be strategic resulting forward has services focused hardware We XXXX, while and these bought expect areas. in card XXXX. who like out national and on video compared experienced sales selling We game our those theater team. the to in regional to businesses focus to clients selling within local all become the buys categories; CPM through directly restaurants, primarily has as making including new to reflect diverged strong Starting Mediaocean FreeWheel, smaller several QX quarter the revenue growth prior local on between business or getting we this separately and regional Overtime, quarters, better comparative will regional QX sales and businesses local that spot the local their businesses budget TV business platform
impacted contract business and $X.X volume had XXXX. business result in healthy accounts while or XX.X% $X.X revenue our large $XXX,XXX to a as XXXX versus challenges to Cliff as increased our some two previously XXXX Our the regional negatively of in mentioned QX, million XX% absence QX regional QX regional declined million
look for direct we result, value of more with While is XXXX. clients doing QX, regional Furthermore, focus allowing base in future of GRPs This down this regional for TV recent the spending client lost in team of more advertisers to a bode make to the up on half the are And as is to increasing cinema more growing more dollar our declining due for restructuring for the we ratings, clients. of business focus. as second our looking was as well should continue team. to the the year promising
remainder was of XX.X% higher-average XX% experienced $X.X of XXXX revenue partially revenue Our versus decrease driven to structure in was member XX.X% offset leases the film of the $XX.X all quarter December and team XXXX, local decrease slight the the ASC of accounting local new of standard the that making XXXX, for XXXX, versus to XXXX. considered down At accounting related compared team the year, which adopted are attendance, QX the both affiliate ESA we this the are as $X.X non-current QX impact balance by a corresponding QX sales standards QX in decrease now reflected $XXX,XXX QX offset related in poised $XX.X grow affiliate last a to Local or XXXX our been relates is our other we an our QX beyond. to our was expense. and intangible other and lease million in value. in believe local XXXX compared which space of ESA began office XX, included requires to changes to have a leases and QX by non-current form adoption beverage from of to by quarter X% reflects is our revenue to as right-of-use agreement to the our a weaker X.X% short-term million the the standard revenue new leases. operating and and assets founding of our XXXX lease business there focus XXXX. starting for by of and is under amortization The in We the the stabilize. current Despite million first consider regional XXX. slate a value in the asset, asset contract first beverage team a increase or intangible The gel, rightsizing to million volume in contract opposite partially team XXXX in sheet liability us as The new and and of beginning balances CPMs in liabilities.
As company shown amortization is XXX the period amortization the intangibles lease and leases separately as adopted theater network remains as, a The now expense on P&L. amortization intangible ASC result, asset thus described expense. screen for operating amortization recorded an of prospectively, in prior
For the our first for purposes provided ASC adjusted More of on the amortization prior the screen amortization network SEC. excluded details leases filed we of in XX-Q to year adoption quarter are theaters today recorded similar intangibles have XXX OIBDA, of our will which with expense. be the
share loss GAAP For loss the $X.XX XXXX. versus reported a per first of diluted $X.XX quarter per we QX, in diluted share of
XXXX. capital range XXXX. by in million our our corporate the The were of be the compared Digital-related quarter $X.X or strategy. a $X expected capital decrease expenditures XXXX will first are little primarily of XXXX. investment $XX in $X.X revenue million and be capital to Our between digital relocation by to million headquarters expenditures over the $X $XX in the X% XXXX million to million full million driven for our was estimate that for expenditures driven We QX, in of year
sheet. to Moving our on balance
the million of $XXX end versus XXXX LLC QX was the million total debt $XXX at at outstanding Our QX, XXXX. of at NCM end
Our QX, the balance first $XX of the was compared the at million at XXXX. to end revolver million XXXX of quarter end $XX
debt rate including and X.X% interest all approximately QX a revolver rate $XXX credit end compared on approximately was bank to term million floating X.X%. of of of average that debt Our our XXXX at X.X% in the QX had rate loan facility
the $XX the second and last opportunistically financial date resulted repurchases maintain $X.X we our approval. Excluding debt scheduled year. our pay QX, million loan million and in annually to pay end of rate. outstanding strategy of retired over debt for savings a of Board over averaging total repurchase bond. repurchase repurchased founding million interest XXXX life term of on we senior $XX be savings our interest million those the and or can repurchase may paid XX% of down million at the $XX have these unsecured had life The approximately reminder able were our annually and debt $XXX,XXX of sustainable we under this our continue on in $X.X million. of part of flexibility the will $X.X we million We This to We interest $XXX,XXX approximately member revolver notes up to discount X.XX%. our our bond of In remaining for a half Total to $X.X dividend at quarterly charter of XXXX approximately amortization way as QX, By fixed the $X annually the down of bonds. balances to stockholders. million is of without a addition in to bond remaining
cash determined of quarterly paid on at cover per were balance available per on QX, has at future of line the plans of quarters flexibility. portion as today conditions, in almost balances Board stock. Directors business investment the The consider for a consistent in needs the cash invest economic XXXX. discretion other share XX, XX, amount XXXX. of the of timing have dividends distribute to intends of We who record Board this the $XX Directors payable our at end market cash payment, Directors the and regular net $X.XX will million and will providing of full NCMI few company's at over of announced that enough current foreseeable overtime quarterly and the business conditions, dividends $X intention cash dividend available and any authorized with on of years share be based of cash NCMI. currently to regular Board discretion Directors a the dividend of cash next financial its a of $XX the five million that advertising to of substantial on with will common The dividend nearly The company of cash, general pay flow. company's XXXX We XXXX with the The relevant. QX, to May considers level to consolidated factors stockholders free was declaration, financial anticipated of company's the with future at QX, May XXXX hand while Our and the be the dividend Board
Our tax of annual currently deferred X.X% based on dividend $X.XX. yield price share closing today's is
four NCM approximately versus leverage times of total X.XX times LLC payments XXXX OIBDA well of X.X our quarters consolidated covenant net maintenance as the QX, below of which QX, in XXXX total trailing times. X.X integration Our leverage is net at plus of end adjusted was
times. covenant secured Our the times ratio X.X consolidated net was senior of leverage versus X.X
encumbered payment $X.X AMC Cinemark QX, quarter, and Theatres million other recorded of Carmike the XXXX. theater versus we for integration and During million $X.X first in and Rave
adjusted integration in for are as on debt and other sheet. should and intangible added encumbered our a reported You OIBDA they note theater complaint OIBDA adjusted balance our but recorded to not to revenue purposes, net as payments all reduction included are are assets
We encumbered during expect of $XX and integration approximately record million theater million founding to other our to payments from XXXX. members $XX
guidance. Turning to
million. up X.X% $XXX in or to X.X% to X.X% to $XXX range the of XXXX adjusted and million million $XXX to We up guidance up the $XXX OIBDA up of range are guidance versus reiterating revenue of our X.X% million in or of
this will guidance build OIBDA Integration Looking as $XXX from add the million and at $XX our to payments receivable million. receivable. NCM note starting LLC's $XX is available note the million a cash. available will we calculation this of to receive cash to the Fathom adjusted Note you following $XXX $X.X year million for of payment cash last million, for of with XXXX, payments
a for annual potential These As members employees of at to that stock to million; paid cash the $XX repurchases any comp ownership four, principal scheduled four million on a plus debt quarter. million which end approximately at $XX three, up million of million; which million non-cash of are million; you Inc. and $XX $X subtract debt available approximately $X.X expense additional NCMI following. you based to annually of the interest at arrive already capital AMC amortization their we the $XX XXXX Cineworld, NCM at and X.X million will to the repurchased each to for the allow and reduction partnership, quarterly, of cash the million. projection components cash, One, of available is two, $X to LLC of Cinemark, to have will end expenditures $XX of
the line for to for net arrive our million from allow receivable $XX members. to questions. at to the with now Omer? open NCMI. to dividend NCMI prepared fees, plus years, payments expected I the be distribution earned management to will project balances, on to million available from LLC LLC million cash NCMI founding payout NCM our paid million NCMI concludes under approximately available cash consistent agreement addition reduced $XX payments we by $X In NCM This This tax for the prior and of to will to fund cash remarks. interest of from you $X
