The company's EBITDA also gained from a more favorably film release in the first quarter compared with a year ago.

For example, both "Crouching Tiger, Hidden Dragon" and "Traffic," were surprise hits, each grossing more than $100 million.

''I am especially pleased by improvements in the company's EBITDA margins and admissions per theatre and screen,'' Hall says. 'While much of this improvement relates to the success of the film product released in late 2000 and early 2001, our operating results were also positively affected by our corporate and financial restructuring, as well as the hard work of our people during a difficult time.''

Hall says the future looks bright.

''We look forward to working with our new controlling shareholder, the Anschutz Corp., to further strengthen our asset base and our on-going operations,'' Hall says. ''With our lower leverage, improved liquidity, and higher operating margins, we are well positioned to defend and expand our key market positions.''

United Artists has 1,588 screens in 212 locations.

As a result of the corporate restructuring, United Artists is privately held and no longer has outstanding public debt. It no longer will publicly disclose its consolidated operating results. However, UATC leases certain properties from a third property that has issued publicly traded pass-through certificates, so it will continue to release most of its financial information.