08:24 AM EST, 02/11/2025 (MT Newswires) -- Cineplex ( CPXGF ) on Tuesday swung to a profit for the fourth quarter, and while it reported lower than expected earnings and revenues. it did say box office results in January 2025 were C$37.6 million, little changed from a year earlier.

The company swung to a Q4 profit per share of $0.05 compared to a loss per share of $0.14 a year earlier, but missed FactSet earnings forecast of $0.11. Cineplex ( CPXGF ) reported an increase in net income of $12.3 million to $3.3 million, compared to net loss of $9.0 million, a year earlier.

Likewise, total revenue for the three months ended Dec. 31, increased to $362.7 million from $315.1 million, a year ago, but missed FactSet forecast of $367.2 million.

Cineplex ( CPXGF ) Chief Executive Ellis Jacob in a statement said: "The sale of Player One Amusement Group and the comprehensive re-financing plan initiatives, which closed in the first quarter of 2024, allowed us to de-leverage and optimize our capital structure. We reaffirmed our belief in the long-term success of the Company by announcing a Normal Course Issuer Bid program in Q3. We continued to invest in our diversified businesses by opening three new LBE venues in highly attractive locations in the fourth quarter, further cementing ourselves as a leader in Canadian entertainment."

Jacob added: "Our Cineplex Digital Media network expanded in 2024 with the additions of Cadillac Fairview and Cominar, resulting in impressive year over year revenue growth. With incredible coast-to-coast penetration of Canada's shopping malls, our recent membership with the Canadian Out-Of-Home Marketing and Measurement Bureau, and the highly attentive and engaged audience in our theatres, our media segment is positioned for growth through our multitude of attractive media assets to clients.

"Our diversified business offerings and leading loyalty program continue to differentiate us from our peers. With a film slate that will only strengthen as we move forward, we are excited about the future and look forward to continuing the momentum into 2025."

CGX closed up $0.29 or 2.7% on the TSX on Monday.