Carmike Cinemas (CKEC) Posts Q4 Loss Versus Expected Profit

Carmike Cinemas (NASDAQ: CKEC) reported Q4 EPS of ($0.04), which may note compare to the analyst estimate of $0.20. Revenue for the quarter came in at $185.4 million versus the consensus estimate of $191 million.

Carmike Cinemas’ President and Chief Executive Officer David Passman stated, “Carmike performed favorably on several key metrics in Q4 2014 despite a third consecutive quarter of year-over-year industry box office declines. Total admission revenues, which increased 5.9% year over year, continues to reach record highs as we complete acquisitions and replace older theatres with state-of-the-art entertainment complexes.

“We believe our theatre-level operating teams performed well in the quarter despite the soft industry trends. Our concessions strategies continue to capture a greater share of concessions spending. Carmike’s 11.2% increase in total concessions and other revenues and 6.5% rise in concessions and other spending per patron during the quarter extends our industry leadership in these performance metrics and highlights the benefit of our focus on delivering a diverse range of food and beverage offerings to theatregoers at affordable price points. In this regard, we are proud that the 2014 fourth quarter marks our twentieth consecutive reporting period of year-over-year concessions and other per patron revenue growth."

For earnings history and earnings-related data on Carmike Cinemas (CKEC) click here.

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