NCMI - National CineMedia jumps 19% as it notes talks with lenders

2023-03-29 17:31:23 ET

National CineMedia stock ( NASDAQ: NCMI ) jumped 18.8% after hours Wednesday after it said it would file its 10-K late -- and noted that comes due to talks with its lenders.

The company and its professional advisers are "actively engaged in negotiations with certain lenders of NCM LLC," the company's subsidiary focused on funneling advertising and pre-show content into movie theaters, it says in a new SEC filing .

And due to time needed to finalize those discussions "and the material impact that these discussions will have" on the company's annual report, extra time will be needed to wrap up the 10-K.

It's currently expecting to report revenue of some $249.2M for the fiscal year ended Dec. 29 (up from the prior-year $114.6M), along with operating expenses rising to $242.3M from $183.2M. That's currently expected to result in a net loss attributable to the company of $28.7M for the fiscal year.

Reports earlier this month suggested National CineMedia was set to hand control to its senior lenders as part of a planned bankruptcy filing .

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