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The Marcus Corporation Reports Second Quarter Results

The Marcus Corporation (NYSE: MCS) today reported results for the second quarter ended November 29, 2012. Increased revenues, operating income and net earnings were primarily driven by a record quarter for Marcus Theatres®.

Second Quarter Fiscal 2013 Highlights

  • Total revenues for the second quarter of fiscal 2013 were $100,633,000, an 11.7% increase from revenues of $90,069,000 for the second quarter of fiscal 2012.
  • Operating income was $9,717,000 for the second quarter of fiscal 2013, a 55.2% increase from operating income of $6,261,000 for the second quarter of fiscal 2012.
  • Net earnings were $4,724,000 for the second quarter of fiscal 2013, a 67.3% increase from net earnings of $2,824,000 for the second quarter of fiscal 2012.
  • Earnings per diluted common share were $0.17 for the second quarter of fiscal 2013, a 70.0% increase from earnings of $0.10 per diluted common share for the second quarter of fiscal 2012.

First Half Fiscal 2013 Highlights

  • Total revenues for the first half of fiscal 2013 were $218,572,000, a 2.1% increase from revenues of $213,976,000 for the same period in fiscal 2012.
  • Operating income was $30,172,000 for the first half of fiscal 2013, a 1.9% increase from operating income of $29,609,000 for the first half of fiscal 2012.
  • Net earnings were $15,403,000 for the first half of fiscal 2013, a 0.7% increase from net earnings of $15,301,000 for the same period in fiscal 2012.
  • Earnings per diluted common share were $0.54 for the first half of fiscal 2013, a 3.8% increase from earnings of $0.52 per diluted common share for the first half of fiscal 2012.

“Our record second quarter revenues and significantly increased earnings were due primarily to a strong film slate for Marcus Theatres. While revenues for Marcus Hotels & Resorts increased for the quarter, operating income was impacted by the recent settlement of some of the ongoing litigation related to the Platinum Hotel & Spa in Las Vegas, Nev. Excluding the settlement, operating income for Marcus Hotels would have been up nearly 10% in the second quarter,” said Gregory S. Marcus, president and chief executive officer of The Marcus Corporation.

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