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Carmike Cinemas’ Fourth Quarter Revenue Rises 18.2% To A Record $171.8 Million

Carmike Cinemas, Inc. (NASDAQ: CKEC):
Webcast/Conference Call TODAY, Tuesday, March 4 at 5:00 p.m. ET
WEBCAST LINK: (archived for 30 days)
CALL DIAL-IN: 800/917-9975 or 212/231-2900 (international callers)

800/633-8284 or 402/977-9140; passcode: 21706954(through March 11)

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, 2013, as summarized below.



Three Months Ended Dec. 31

Twelve Months Ended Dec. 31
(in millions) 2013   2012 2013   2012
Total operating revenues $ 171.8   $ 145.4 $ 634.8   $ 533.9
Operating income 19.2 16.7 59.6 54.3
Interest expense 12.5 10.5 49.5 36.0
Theatre level cash flow, excluding acquisition-related expenses (1) 38.6 35.6 135.1 117.8
Net income 3.9 91.6 5.8 96.3
Adjusted net income, excluding acquisition-related expenses (1) 5.6 7.6 12.2 18.7
Adjusted EBITDA, excluding acquisition-related expenses (1) 33.7 30.2 113.4 97.4
(in millions) Dec. 31, 2013 Dec. 31, 2012
Total debt (1) $ 455.3 $ 434.7
Net debt (1) $ 311.4 $ 366.2

(1) Theatre level cash flow, adjusted net income, 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 and adjusted net income to net income for the three and twelve months ended December 31, 2013 and 2012, as well as a schedule of total debt and net debt as of December 31, 2013 and 2012, are included in the supplementary tables accompanying this news announcement.

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