Regal Reports 3rd Quarter Profit Increase

Regal Entertainment Group, the nation's largest film operator, based in Knoxville, is reporting earnings of $29.3 million for the third quarter, compared to $17.2 million, for the same period in 2005.

Executives say the company also expects to receive between $400 million and $425 million in net proceeds from the initial public offering of National CineMedia Inc., the sales and marketing arm of Regal, AMC Theatres and Cinemark USA.

Regal's total revenue for the quarter was $675.7 million, a 7.5 percent increase over last year's third-quarter total of $628.4 million.