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Radiant Systems Entertainment Division Expands Internationally with Reading Cinemas
ATLANTA --(Business Wire)-- Nov. 10, 2004 -- Reading Selects Radiant's Point-of-Sale Solution for Australian and New Zealand Markets
Reading International Inc. (AMEX: RDI), a leading cinema and real estate company, has selected Radiant Systems, Inc.'s (NASDAQ: RADS) Exhibitor Suite (RadES) for implementation in its rapidly expanding Australian and New Zealand markets. This marks the first international deployment of the leading point-of-sale solution for theatres in the United States.
In addition to the core point-of-sale solution, Reading is also implementing the Radiant Film Management solution, which gives them a full end-to-end home office management platform. The integrated solution enables Reading to streamline mission-critical processes and improve data efficiency.
"The implementation of Radiant's solution for theatres in our Australia and New Zealand locations is a key step forward in improving profitability by gaining greater control of chain-wide film booking and scheduling at headquarters," said Andrzej Matyczynski, chief financial officer of Reading International. "Radiant's innovative solutions have been delivering advanced capabilities and outstanding service for our locations in the US the past three years. This integrated solution allows Reading to meet the demands of our rapidly expanding global market."
"International expansion with Reading solidifies Radiant's position as an industry-leading technology provider for cinema operators," said Chris Lybeer, president of the Radiant Entertainment Division. "Providing Reading's end-to-end solution for operational and financial management needs to these new markets is a testament to our ability to help customers improve profitability and our partnership with Reading."
The Radiant Film Management solution provides real-time, accurate management of film rentals, accruals and settlements. Its ease-of-use and integration with leading point-of-sale systems makes Radiant Film Management the complete solution.
Company Information
Founded in 1985, Radiant Systems, Inc. provides innovative store technology for the foodservice, petroleum and convenience store, and cinema industries. Radiant's point-of-sale, self-service kiosk, and back-office technology enables operators to drive top-line growth and improve bottom-line performance. Headquartered in Atlanta, Radiant (www.radiantsystems.com) has deployed its solutions in more than 50,000 sites worldwide.
About Reading International
Reading International is in the business of owning and operating cinemas and live theaters and developing, owning and operating real estate assets. Our business consists primarily of the development, ownership and operation of cinemas in the United States, Australia, New Zealand, and Puerto Rico. Following completion of several fit-outs which are currently taking place, our worldwide circuit will consist of forty-nine cinemas with 321 screens. As well as the ownership and operation of "Off Broadway" style live theaters in Manhattan and Chicago, and the development, ownership and operation of commercial real estate in Australia, New Zealand and the United States, including entertainment-themed retail centers ("ETRC") in Australia and New Zealand.
Reading manages its worldwide cinema business under various different brands. In the United States, under the Reading brand, Angelika Film Center brand (http://angelikafilmcenter.com/), and City Cinemas brand (http://citycinemas.moviefone.com/). In Australia, under the Reading brand (http://www.readingcinemas.com.au/). In New Zealand, under the Reading (http://www.readingcinemas.co.nz) and Berkeley Cinemas (http://www.berkeleycinemas.co.nz/) brands and in Puerto Rico under the CineVista brand.
Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; including the ability to integrate the operations of acquired businesses; (iii) the Company's growth strategy and operating strategy; (iv) the Company's new or future product offerings, and (v) the declaration and payment of dividends. The words "may," "would," "could," "will," "expect," "estimate," "anticipate," "believe," "intend," "plans," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are the Company's reliance on a small number of customers for a larger portion of its revenues, fluctuations in its quarterly results, ability to continue and manage its growth, liquidity and other capital resources issues, competition and the other factors discussed in detail in the Company's filings with the Securities and Exchange Commission.
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