3D Films Boost Carmike Cinemas to $500,000 Third-Quarter Profit
Theatrical exhibitor had recorded a year-earlier loss of $20.7 million.
Carmike Cinemas on Monday reported a swing into the black in the third quarter, posting a $500,000 profit amid strong 3D theatrical box office.
That compared with a year-earlier loss of $20.7 million. Carmike said it continues to close underperforming screens in its circuit yet increased per-screen revenue by almost 3% in the September quarter.
Overall quarterly revenue for the Columbus, Ga.-based circuit rose 2% to $124.8 million.
"Despite a solid 3D slate of movies during the quarter, the mix of 2D product did not perform as well in our markets," Carmike chief David Passman said. "Certain high-grossing movies such as Inception and Salt performed well in large metropolitan markets but significantly underperformed in small towns."
Some 23% of the 2,241-screen circuit's quarterly revenue came from 3D box office.