Carmike Cinemas Reports Record Fourth-Quarter Revenue
The movie theater chain posted record net income of $6.9 million.
Carmike Cinemas on Monday reported earning 27 cents per share in the fourth quarter on $220.7 million in revenue, easily surpassing Wall Street's estimates of 10 cents per share on revenue of $210 million.
The movie theater chain posted record net income of $6.9 million, reversing a loss in the same frame last year of $2.2 million.
In the fourth quarter, Carmike had an average 275 theaters with 2,930 screens.
The average patron paid $8.08 for a movie ticket during the quarter, up from $7.35 a year ago, and spent $5.33 at the concession stand, up from $4.57.
Admission revenue was $133 million in the fourth quarter, up from $114.4 million last year, and concession revenue was $87.7 million, up from $71 million.