for note and company executive go our a Then initiatives privilege results full then I'll provide the been It's years, company in an with essentially also work outlook. the It's finish I team. very on Tom my leave now to your capable I past major our questions. hands open Tom. detail, year highlighted know we'll QX year. of further the to NCM call Thanks, that accomplish many with full the record in high over XXXX our nice impressive and through operating and several a QX to that to out and to the the year walk so
providing As on for be always, future supplemental our we of will these reference. results your website a presentation
These partially regional million better-than-expected compared revenue QX revenue a in increase For a record national strong team, an lower sales X.X%. advertising our by quarter, advertising decrease a to local reflect total fourth of offset $XXX.X for revenue. $XXX.X the results our XXXX, was million quarter and in and beverage
business the a million, from an X.X% the compared an The the $XX.X first $X.X Total by during XXX%, for advertisers QX adjusted XX.X% to our adjusted inventory by for to quarter increase unit. XX% of reflected demand year, very was QX inventory in our OIBDA increase increase the national margin of make by of last margins increase XXXX. in our margin in impressions primarily million strong the sold increase was or as network an from driven The in of XX.X% adjusted related XX.X% utilization OIBDA quarter. prior sales in decrease the in same of the to XXX% high-margin benefit representing X.X% the OIBDA offset QX year. to versus part our good by in national increase to OIBDA adjusted XXXX, period revenue, partially balance, from at due utilization increased in attendance a related from of mix prior The higher delivery including impressions the quarter and driven platinum and versus
campaign, spot our our for is of calculation of decrease inventory her with pricing X.X% platinum December reasons. for partially note upfront utilization that XXXX, of the impact also national our to the our I lower included competitive included CPM goal in was by related not base CPMs QX, entry-level our The CPMs categories into higher, expanding a higher mix would new offset overall that driven to expand utilization. of by desire client in
slight regional decrease show under Our revenue. in stabilization $XXX,XXX a QX in value or of to to modest digital decrease due X.X% $XXX,XXX, a $XX.X signs regional business versus million. ad QX contract and The contracts decrease decreased a revenue to was small for XXXX average started regional as by
million contract contracts decrease $XX.X the XXXX. revenue of local in a QX revenue in decrease decreased to due $X.X $XX.X volume advertising X.X% million the to ad and value. or decrease local This a in was local average from million in
to and our pre-show local Noovie of the again some better we from local of late restructuring inventory confident commission business year, inventory selling once shift advertised within structures last local the resulting the begin XXXX. the our our in placement after and With to national strategy of are Showtime, grow will
nearly digital on-screen XX% will that benefit revenue our of local Our in the integrated our percentage local QX customers ad increased with products. continued buys. to the strength continue were local business to also see from we Overall, in as growth digital
to by $X.X slightly XXXX, CPM. decreased by QX QX X.X%, family X.X% member offset beverage in driven attendance, higher million a versus million $X.X from $XXX,XXX, partially revenue decrease an or
XX% Our in XXXX. QX X%, XX%, and and local XX% XX%, respectively, X% national, XXXX X% advertising X%, revenue beverage mix regional, was versus QX
$X $XXX.X total $X.X the increased $X.X at year, to Due end versus that year from $XXX.X million full by XXXX. XXXX. the make of For revenue higher million results million good or slightly were million the X.X% ended in negatively at better-than-expected XXXX, impacted million to a
our year to As openings, Tom early results. film XXXX make benefit QX better-than-expected providing in mentioned, XXXX higher QX with is good this some
adjusted year Including one-time $XXX.X impairment, XXXX. XXXX. increased $X full million would investment OIBDA the to X% increased to OIBDA margins adjusted adjusted in from X%, in XXXX. XX.X% OIBDA grown or million million And from Our million, noncash QX for $XXX.X $X.X year XX.X% a have over
XXXX ad X.X% Box platinum Full utilization new and higher to $XXX.X level in increases in increased a sold and CPM and by national compared Office. is for sold decrease million was deals, attendance by to increase that a versus to a QX, entry in decrease was increase of reflected so deals CPM Consistent with XXXX clients. result to impressions by XXX.X%, upfront due sales, of a an or X.X% decrease XXXX. branded in XXX.X% increase versus offset by network impressions from upfront. a in mix of driven a the million, in This record was driven shift pricing in year The the X.X%, offset XXXX mix scattered revenue $XX.X X.X% increase scatter from partially content
driven to X.X% contract average a by and returning large increase digital spend in by partially from large decrease are regional a national million in decreased XXXX. a driven by XXXX, million sales customers to in This volume XXXX These $XX.X the contract and in by decrease in full a regional advertising regional reduction is significant value, in shift few XXXX. clients, revenue advertising XX.X% from several the in For clients from year offset increase the $XX.X ad versus from decreases XXXX. revenue
Moving into into to reflect forward regional as we due team our team part reporting regional the managed XXXX, of is provide results the small and we for business crossover will our with revenue that them fact revenue in run the between revenue many in Consolidating overall revenue way adding of sales will our these our national we our the financial significant part our parts our national to the clients. of discussed reporting. way national our the external revenue be consistency
million For to $XX.X contracts, to the decrease local due compared in full the or in ad volume X.X%, XX.X% million sales a revenue decreased XXXX. of revenue. offset with local partially million, advertising from to year, revenue decrease local $XX.X was $X.X The digital local higher
buys ad We after retargeting expect integrate cinema. clients cinema leave their to our digital the with increasingly capabilities local patents
or decreased beverage in $XX contractual million, a founding million decrease in Full X.X% $XX.X slight your member offset increase revenue X.X%, from attendance, beverage versus to a CPM. by to XXXX $X.X partially due million
we forma costs, share XXXX. in quarter, QX $X.XX increase share GAAP per transition in reported diluted of of XX% versus share adjusting X.X% diluted quarter the fourth diluted diluted earnings for fourth earnings versus the the per increased per CEO For XXXX to XXXX. earnings would $X.XX pro have When the $X.XX for to QX per share of $X.XX
result compared assets XX.X% tax change. year, the our from as XXXX results a $X.XX earnings state $XX.X re tax deferred XXXX to earnings diluted decrease to a XXXX share per of due a the XXXX. law increase in in to The per of in of GAAP included of million we expense For tax deferred share measurement of a $X.XX reported diluted
diluted CEO for deferred costs XXXX, increased XXXX $X.XX reversal for share EPS in adjusted XXXX. the same As tax and of would $X.XX have the per XX% to transition in versus
million, Our technology product development our and prepaid million were upcoming stated digital total million more was to to creation robust of spent based of capital million high in guidance in the $X.X million slightly implementation CapEx which consumer $XX million This our related $XX.X system, costs at below and spent databases the expenditures and related $XX.X to cloud $X range end for expenses XXXX of the and $XX compared XXXX. of to XXXX. the our $X.X million included
theater we fourth and Carmike received respectively of AMC other and quarter payments full million in theaters In versus XXXX. theaters $X.X XXXX, AMC with million, the associated $X.X integration and Rave the $XX.X $XX.X million million for year and respectively and encumbered
are AMC integration for added purposes reduction they're reported As adjusted in OIBDA a OIBDA reminder, as the $XX debt the to as been should while included sheet. theaters be net distribution term AMC and but XXXX. revenue tangible the our now compliance of payments approximately onto the for ESA, through It and recorded on Carmike these or theater other and are noted will theater payments moved balance adjusted to not cash partnership integration a have XXXX, continue network the that encumbered Rave assets of million remaining
XXXX. upstanding of LLC higher QX million at Our end MCM the at was total of end than QX the debt XXXX $X
bond term of $XXX to $XX bank and to $XX October QX and the our due refinancing at QX of revolver at of quarter the million a primarily Our the balance funding $XXX the XXXX, the million out bonds current costs million end was of end debt revolver. versus compared at million XXXX, were end
approximately Our QX versus our XXXX, for million $XXX debt, X.X% X.X% versus for X.X% floating term average interest that credit XXXX had last was rate a loan on approximately rate QX X.X% rate revolving of and year. all bank facility including debt
interest October $X.X a million XX-day the refinancing XXXX overlap increased Our the of million expense $XXX due QX to during from notes.
of bank at balances, total revolver end XX% had outstanding a debt QX the of our interest our XXXX fixed rate. Excluding
maintenance of the total net of of our quarter leverage is below covenant Our well four adjusted net was times. QX MCM times end leverage four as which at OIBDA, X.XX trailing XXXX total LLC consolidated
below ratio consolidated the net also times of is leverage senior comfortably secured covenant of three times. Our X.X
$X.XX cash at have NCMI year-end nearly quarters dividend enough five at with NCMI. to per at of of at was million of We the $XX share with end and consolidated at XXXX. $X.XX available this of investment Our over balance balances million per cover cash on share cash hand currently $XX
have As on stock. that Board Tom stockholders dividend record on This share per authorized X, XXXX. of mentioned company's to dividend cash be increase XXXX the March paid Directors will the of the earlier, of we regular common of quarterly to March announced XX, today $X.XX
to at The Directors distribute through pay future for be its quarterly free the at company including Board general Board company's to dividends a that regular and timing, available to cash, will its the of intends foreseeable market Board flow of of and economic company's dividend the anticipated business Directors, and the to future current will discretion declaration, all of needs, conditions, factors sole considers the financial in shareholders any of payment, business of and who consistent substantially discretion of condition, Directors consider payable cash reinvest the opportunities with relevant. the other advertising the intention cash quarterly dividend. The amount the
on $X.XX at based share currently share today's price $X. yield dividend is closing annualized Our of X.X% per
dividend XXX% currently of deferred for is As tax reminder, a purposes. our tax income
our to turning Now guidance.
the million. year Adjusted or to XXXX, be between $XXX is X.X%, total to million expected OIBDA of X.X% to to to versus is X.X% range million in a XXXX, up X.X% of be $XXX of down in $XXX million. and a revenue For full expected range $XXX up or
expect million Office to to beverage we Looking mid-single expected Two, Three, amendments deeper down there of the taking addition, $X expectations, of year, guidance. projections throughout and driven down spot for later remember we made OIBDA are expected of to CPM consistent underlie our digits. to inventory ESA the a is XXXX XXXX the revenue X%, our adjusted gain following the few our is XX%, increase hold increase with industry we additional is margin XXXX, It our theater project in for assumptions year. fee it into offset Box and platinum that sales X% the the be part factors to our industry with were to attendance cinema preparing X.X%. XXXX were $XX be access a to estimating platinum increase consider. in mid-single guidance in that of adjusted drive by to to momentum XXXX as gross the approximately in important traction down blend digits OIBDA year-over-year other the are dollars. throughout approximately of our million, increase an by We margin to attendance by One,
other expect of theaters. with payments approximately payments and $XX AMC theater We Carmike from encumbered integration million associated
We XXXX to invest expect and $XX in revenue. continue million to a of digital approximately we as be $XX expected our is the CapEx little be platforms. over or million to million portion to investment X% range $X The digital data in
approximately We loan expect million average XXXX includes amortization million to approximately outstanding, to non-cash to interests costs. million on borrowings of lower million $XX deferred by related lower cash $XX driven to debt million, $X.X which and average decrease $XX $X rates the interest of interest and
NCM for the our adjusted guidance $XXX starting available million. calculation of XXXX, to $XXX million, payments million OIBDA cash integration of approximately add to LLC's $XX now Turning with we'll
$XX million. for $X.X $X.X stock and expense $X cash, to $X.X to million reduction million, each million amortization for subtract comp we the our expenditures a cash will retention that the end $XX the of of which paid employees in Cinemark interest Inc. to quarter. million at principal and annual of million non-cash at which projection of costs available These $XX million of and adjusted associated are million, of onetime on operating you members to to our are of As $X.X to to debt arrive a approximately out XXXX, available Cash implementation, approximately with the components will severance ownership $XX operating scheduled capital partnership NCM the following. back-end million allow at of LLC Regal, has for inventory the three NCMI system, their income quarterly based costs estimates. management
payout cash prior NCMI to management of distributed to NCMI with we years, earned will from million fees, $X you LLC to expected available NCMI approximately the estimate $X.X of plus cash project $XX dividend balances. arrive to from NCMI’s to LLC This consistent $X for an to the the million interest founding cash $XX and under tax NCMI by for reduced payments million available In for our payments. agreement NCM to fund members. to million the net cash on allow addition NCM cash million be has receivable to paid of
prepared This concludes our remarks.
Now, your questions. we'll for the call open
