This Day On The Street
Continue to site
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

Carmike Cinemas Reports 2012 Q2 Adjusted EBITDA Of $24.4 Million

Carmike Cinemas, Inc. (NASDAQ: CKEC):

Webcast/Conference Call TODAY, Wednesday, August 1 at 5:00 p.m. ET
 
WEBCAST LINK:

www.carmikeinvestors.com (archived for 30 days)

 
CALL DIAL-IN: 888/221-1894 or 303/223-2680 (international callers)
 
CALL REPLAY: 800/633-8284 or 402/977-9140; passcode: 21599663

(through August 8)

Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema and 3-D motion picture exhibitor, today reported results for the three and six months periods ended June 30, 2012, as summarized below.

SUMMARY FINANCIAL DATA
(unaudited)
               
Three Months Ended Six Months Ended
June 30, June 30,
(in millions)   2012   2011   2012   2011  
Total operating revenue $ 136.3 $ 131.5 $ 267.0 $ 227.2
Operating income 16.1 14.9 30.6 13.0
Interest expense 8.6 8.6 16.9 17.8
Theatre level cash flow (1) 29.5 30.1 58.6 40.8
Net income (loss) 1.2 5.9 4.4 (12.5 )
Adjusted net income (loss) (1) 6.7 8.6 11.4 (9.6 )
Adjusted EBITDA (1) 24.4 25.6 48.4 31.6
 
June 30, Dec. 31,
(in millions) 2012 2011
Total debt (1) $ 325.4 $ 315.4
Net debt (1) $ 239.6 $ 301.8
(1)   Theatre level cash flow, adjusted net income (loss), adjusted EBITDA, total debt and net debt are supplemental non-GAAP financial measures. Reconciliations of theatre level cash flow and adjusted EBITDA to net income (loss) and adjusted net income (loss) to net income (loss) for the three and six months ended June 30, 2012 and 2011, as well as a schedule of total debt and net debt as of June 30, 2012 and December 31, 2011, are included in the supplementary tables accompanying this news announcement.

Carmike Cinemas’ President and Chief Executive Officer David Passman stated, “We are very pleased with our second quarter financial results, with Carmike for the fifth consecutive quarter generating above industry performance metrics compared to the same period in 2011. An increase in aggregate admissions revenues of 2.7%, along with an increase of 5.5% in concessions and other revenues, combined for an increase of 3.7% in total revenues. This compares quite favorably to a reported industry box office revenue decline of over 1%.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs