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!

Carmike Cinemas Provides Updated Non-GAAP Financial Information

Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema and 3-D motion picture exhibitor, today provided an update to its non-GAAP financial information for the three and six month periods ended June 30, 2012 and 2011.

In the table below, Carmike has updated its presentation of adjusted net income (loss) to present adjustments to net income (loss) net of tax effect. This update has no effect on Carmike’s previously reported revenue, theatre level cash flow, adjusted EBITDA, total debt and net debt for the three and six month periods ended June 30, 2012 and 2011. Going forward, Carmike intends to present adjusted net income (loss) on this basis.

     
 

ADJUSTED NET INCOME (LOSS) (Unaudited)

(in thousands, except per share data)

                 
Three Months

Ended June 30,

Six Months

Ended June 30,

2012 2011 2012 2011
Net income (loss) $ 1,198 $ 5,883 $ 4,429 $ (12,515 )
Impairment of long-lived assets 50 1,164 1,536 1,325
Write-off of note receivable - 750 - 750
Loss on extinguishment of debt 4,961 - 4,961 -
Severance agreement charges 493 845 493 845
Tax effect of adjustments to net income (loss) (1)   (2,174 )   (1,090 )   (2,761 )   (1,153 )
 
Adjusted net income (loss) $ 4,528   $ 7,552   $ 8,658   $ (10,748 )
 
Weighted average shares outstanding (basic) 16,963 12,796 14,894 12,790
Weighted average shares outstanding (diluted) 17,364 12,827 15,147 12,790
Adjusted net income (loss) per share (basic) $ 0.27 $ 0.59 $ 0.58 $ (0.84 )
Adjusted net income (loss) per share (diluted) $ 0.26 $ 0.59 $ 0.57 $ (0.84 )
          (1)   Adjustments to net income (loss) for the three and six months ended June 30, 2012 and 2011 are shown net of tax effect of 39.5%, which represents the estimated combined federal and state tax rates.
 

Supplemental Financial Measures

Adjusted net income (loss) is defined as net income (loss) plus impairment of long-lived assets, write-off of note receivable, loss on extinguishment of debt, and severance agreement charges, net of tax effect. Carmike believes adjusted net income (loss) is an important supplemental measure of operating performance for a motion picture exhibitor because it provides a measure of core operations.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,122.01 +15.31 0.09%
S&P 500 2,000.12 +0.10 0.00%
NASDAQ 4,569.6210 -1.0160 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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