Thank you for joining Reading International's earnings call to discuss our 2018 second quarter results. My name is Andrzej Matyczynski. I'm Reading's Executive Vice President of Global Operations. With me, as usual, are Ellen Cotter, our CEO; and Dev Ghose, our EVP and Chief Financial Officer. Before we begin the substance of the call, I'll start by stating that in accordance to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, certain matters that we will address in this earnings call may constitute forward-looking statements. Such statements are subject to risks, uncertainties and other factors that may cause our actual performance to be materially different from the performance indicated or implied by such statements. Such risk factors are clearly set out in our SEC filings. We undertake no obligation to publicly update or revise any forward-looking statements. In addition, we will discuss non-GAAP financial measures on this call. Reconciliations and definitions of non-GAAP measures, which are segment operating income, EBITDA and adjusted EBITDA, are included in our recently issued 2018 second quarter earnings release on the company's website. In today's call, we'll also use an industry-accepted financial measure called theater level cash flow, which is theater level revenues less direct theater level expenses. Please note that our comments are necessarily summary in nature, and anything we say is qualified by the more detailed disclosure set forth in our Form 10-Q. So with that behind us, Dev will be talking to us about the financial results for the second quarter a little later. But first, I'll turn the call over to Ellen who'll update us on the company's operations for what has turned out to be an exciting quarter for the company.

Thanks, Andrzej. And before we start our call today, I want to take a moment to mourn the passing of Bill Gould, a longtime Director of Reading International and its predecessor companies. Over his decades of service to Reading, Bill's thoughtful advice, counsel and insights as a Director contributed significantly to making our company what it is today. As a founder of the firm TroyGould, Bill was a pillar of the Los Angeles legal community. I know I speak for many of the men and women of Reading. It has been a tremendous honor and privilege to serve Reading alongside Bill. Now let's turn to our second quarter results. First, we appreciate you sending in questions and have tried to address many of your questions in our prepared remarks. We're very pleased with the company's second quarter 2018 results. We set records across many operational metrics. Our second quarter total revenues increased 16% to $84.2 million, which set an all-time record high for any quarter. An amazing and diverse slate of movies from both the major studios and independent film companies, coupled with attractive returns from the execution of our global cinema strategy, drove this record quarterly results. From an income perspective, our consolidated operating income for the second quarter of 2018 was negatively impacted by litigation costs associated with Jim Cotter Jr.'s derivative case. Despite this nonrecurring G&A items, at $8.6 million, Reading's management delivered the second highest operating income we've recorded for any quarter. During the second quarter of 2018, we also continued to enhance the value of our existing assets and invested a total of $18 million in our cinema and real estate portfolios. First, let's look at Reading Cinema business which offers diversification and strategic benefits through operations in 3 countries: the U.S., Australia and New…

Thank you, Ellen, and good evening. Now I'll discuss the financial results for the second quarter ended June 30, 2018. Consolidated revenues for the second quarter of '18 increased by 16% to $84.2 million. This was primarily driven by: one, the U.S. Cinema group's significant increase in attendance and total spend per person; two, the opening of our new state-of-the-art 8-screen Reading Cinema in Newmarket Australia on December 14, 2017; and three, increases in average ticket prices, ATP, in our U.S., Australia and New Zealand cinemas. This was offset by a small overall decrease in revenue in the real estate segment for the quarter. The decrease was attributable to 2 factors: business interruption proceeds received in the second quarter of 2017, and our live theater revenue also decreased compared to the prior year due to the recognition of settlement payments related to the STOMP arbitration in 2017. Our revenues for the first half of 2018 increased by 13% or $18.2 million to $160 million. Net income attributable to RDI common shareholders decreased by $14 million to $5 million for the second quarter of 2018 and by $14 million to $8 million for this first half of the year. For both the quarter and the 6 months ended June 30, 2018, the decrease against the prior year was principally due to a onetime gain on insurance recoveries of $9.2 million and a $9.4 million gain on the sale of assets that was recognized for the quarter ended June 30, 2017. Additionally, there was a decrease in nonsegment G&A expenses in 2018. For the quarter, EPS decreased by $0.60 to $0.22 for the prior year quarter. EPS for the first half of 2018 decreased also by $0.60 to $0.35 from the prior year period. Our nonsegment general and administrative expenses for the…

Thanks, Dev. First, I'd like to thank our stockholders for forwarding questions to our Investor Relations email. We, as usual, are very pleased with the number of inquiries. While we've endeavored to answer a majority of your questions in a comprehensive overview that both Ellen and Dev have given, we've compiled a set of questions and answers that represent some of the ones that we have not addressed and the recurring things that were emailed to us. As always, we are available after the webcast to address any additional questions and encourage you to continue reaching out. The first question. You've done well with raising prices in U.S. theaters. Do programs like AMC's Stubs A-list change the way that you look into future as it relates to raising price? Ellen, can you handle that one?

In the U.S., we make each of our pricing decisions on a theater-by-theater basis and depending on the various amenities offered in their particular market. And we're continuously monitoring pricing for possible adjustments, up or down. But one constant strategic theme for us in the U.S. in recent years has been to price our tickets in a way that gives our guests real value for their money. Today, we're comfortable with our U.S. circuit pricing. However, that's not to say we aren't monitoring currently available subscription programs to assess their impact on the market and to determine whether Reading should in fact adopt some variation of this model into the future.

Thanks, Ellen. Another question regarding do we track what percentage of the attendance has MoviePass since they lowered their price to $10 a month? Have you seen any negative impact in the recent weeks from the changes to MoviePass' terms of service recently implemented? Ellen?

First, let me mention that our acceptance of MoviePass is limited to the United States. It had no impact on our Australian and New Zealand operations. In the U.S., we have a general sense of the level of MoviePass attendance at each of our theaters. However, because MoviePass guests use their cards like another credit card, Reading is unable to track its use. Furthermore, we don't have a formal agreement or any other type of financial arrangement with MoviePass. With respect to the question about recent changes to MoviePass service, I'll note that the box office of our U.S. circuit in July and the beginning of August has been well over 2017 levels and appears to be exceeding the industry box office. So as I mentioned earlier on the call, I think that the strength of Reading's U.S. circuit has been due to: one, the strong film product coupled with an overwhelmingly positive reception to our renovation strategy.

Thanks again, Ellen. Another question is can we provide update on Reading's buyback program? Why is the company not being more aggressive in purchasing its shares? I think I can handle that one. We maintained a balanced approach to capital allocation. We will continue to work toward our goal of directing capital to areas where it can drive the greatest long-term value for our stockholders through strategic investments in our cinemas and real estate development project and returning capital directly to stockholders. In March 2017, our Board of Directors authorized a stock repurchase program to repurchase up to $25 million of Reading stock. We remain committed to the buyback program, which we believe demonstrates our confidence in the business and commitment to returning capital to stockholders. To date, we have purchased 433,361 shares at an average cost of $15.97 per share, excluding any transactions costs, for a total of $6.9 million. Our next question. With the expected maturity of the U.S., New Zealand and Australian loans in 2019, are they going to be refinanced prior to adding to Reading's working capital deficit by allowing them to be classified as additional current maturities of long-term debt? Dev?

We are encouraged with the discussions that we've been having with our banks with regard to future terms for our credit facilities in the U.S., Australia and New Zealand that mature in November and December 2019. We are working towards having replacement credit facilities in place before the end of 2018 and before these loans become current.

Thank you, Dev. That marks the conclusion of the call. We are available for any follow-up calls, so please do not hesitate to reach out. We will also be hosting our 2018 Annual Stockholders' Meeting on November 7, 2018. We will be announcing the location in the next month. Once again, we appreciate you listening to the call and wish you a good evening, good day.