Carmike Cinemas Inc. (NASDAQ:CKEC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Carmike Cinemas Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 207.14% to $0.43 in the quarter versus EPS of $0.14 in the year-earlier quarter.
Revenue: Rose 22.05% to $146.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Carmike Cinemas Inc. reported adjusted EPS income of $0.43 per share. By that measure, the company beat the mean analyst estimate of $0.24. It beat the average revenue estimate of $144.25 million.
Quoting Management: Carmike Cinemas’ President and Chief Executive Officer David Passman stated, “Carmike finished the year on a strong note, propelled by attendance gains, the Rave asset acquisition and increased average ticket and concessions purchases by our patrons. Carmike’s full-year admissions receipts increased by 11.7%, some 520 basis points above the reported industry percentages. Excluding the acquisition of Rave, Carmike’s full year box office gains bettered the industry by 220 basis points.”
Key Stats (on next page)…