This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Marcus' CEO Discusses F4Q12 Results - Earnings Call Transcript

Stocks in this article: MCS

We will also post our Regulation G disclosures when applicable on our website at www.marcuscorp.com.

So with that let’s begin, by talking about our fiscal 2012 fourth quarter and year end results as you can see we ended the year very strong, certainly pleased of your reporting and other significantly improved quarter compared to last year thanks to much stronger results from your Theater division and continued positive trends in our hotels and resorts division.

I am going to take you through some of the detail behind the numbers and then turn the call over to Greg for his comments. Before I get into the operating results let me first briefly address any variations and line items below operating income versus last year. The first unusual item is right off the bat is on the investment income line, during our fourth quarter we recognized a one-time gain of nearly $800,000. On the sales securities that withheld it was investment for some time.

Looking at the fiscal year results, this unusual amount becomes more pronounced due to an approximately $700,000 adjustment to investment income made last year, that was related to the change and estimate of interest income, earned data on the funds we invest several years ago in conjunction with the public portion of the Hilton Milwaukee parking garage.

We view both gain recorded this year and the loss recorded last year as one time unusual items. Investment income is historically included interest earned on cash, cash equivalents and notes receivable including notes related to prior sales of time share units on hotels, resorts division and we currently expect return to reporting investment income on just those items during fiscal 2013.

Moving on we reported another reduction on interest expense during the fourth quarter compared to the same period last year. Our interest expense was down approximately $240,000 during the fourth quarter and ended the year down nearly $1.1 million compared to the prior year same prior year due primarily to reduce borrowings, we are able to fund our fiscal 2012 capital expenditures, dividends and share repurchases out of operating cash flow eliminating the need for additional incremental debt during the year.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs