Carmike Cinemas Reports 23% Year Over Year Increase In Q4 Revenue To $146.6 Million
Carmike Cinemas, Inc. (NASDAQ: CKEC):
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Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema and 3-D motion picture exhibitor, today reported results for the three and twelve month periods ended December 31, 2012, as summarized below.
| SUMMARY FINANCIAL DATA (unaudited) | ||||||||||||
| Three Months Ended Dec. 31 | Twelve Months Ended Dec. 31 | |||||||||||
| (in millions) | 2012 | 2011 | 2012 | 2011 | ||||||||
| Total revenue | $ | 146.6 | $ | 118.9 | $ | 539.3 | $ | 477.8 | ||||
| Operating income | 16.7 | 8.3 | 54.7 | 35.5 | ||||||||
| Interest expense | 10.5 | 8.3 | 36.0 | 34.1 | ||||||||
| Theatre level cash flow (1) | 35.6 | 24.3 | 118.3 | 91.8 | ||||||||
| Net income (loss) | 91.6 | 1.7 | 96.3 | (7.7) | ||||||||
| Adjusted net income (loss) (1) | 7.6 | 3.1 | 18.7 | (4.6) | ||||||||
| Adjusted EBITDA (1) | 30.2 | 18.9 | 97.9 | 72.7 | ||||||||
| (in millions) | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||
| Total debt (1) | $ | 434.7 | $ | 315.4 | ||||||||
| Net debt (1) | $ | 366.2 | $ | 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 twelve months ended December 31, 2012 and 2011, as well as a schedule of total debt and net debt as of December 31, 2012 and 2011, are included in the supplementary tables accompanying this news announcement.
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