NEW YORK (Thomson Financial) - Carmike Cinemas Inc. reported late Monday a
fourth-quarter net loss of $68.3 million, or $5.40 a share, compared with a loss
of $5.7 million, or 46 cents a share, in the same period a year earlier.
Operating loss was $56.3 million fro the fourth quarter, compared with
operating income of $3.5 million a year ago.
The latest quarterly results included non-cash impairment charges of $26.2
million related to theater assets and $38.2 million related to goodwill.
The mean estimate of analysts polled by Thomson Financial was for a loss of
27 cents a share for the period.
Revenue for the period ended Dec. 31 fell to $116.8 million from last year's
$121.1 million. Analysts had expected revenue of $116.8 million for the quarter.
A weaker than expected fourth quarter box office resulted in disappointing
fourth quarter results for Carmike. While the movie slate in mid-December was
strong, it was not enough to offset weakness in October and November, said chief
executive Michael Patrick.
The stock of the Columbus, Ga.-based motion picture exhibitor closed the
regular session at $7.30.
Wanfeng Zhou
wz/wz/gm
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