The mostly rural theater chain reported net income of $3.1M, up from $530,000 in the period last year, on revenues of $134M, up 8.5%. The revenue figure nearly matched the $134.43M that analysts expected, while profits, at 24 cents a share, beat forecasts by a penny. Carmike says that the average price consumers spent for a ticket fell 1.8% to $6.49 due to “increased discounts and promotional activities.” But it had a 5.6% pickup in box office sales as average attendance per screen grew 7.8%. It also saw 14.4% growth in revenues from concessions as the average consumer spent $3.57, up 6.3%. As for 4Q, CEO David Passman says that “we expect the quarter to finish strongly.”
Carmike Reports 3Q Profit Boost As Increased Attendance And Pop Corn Sales Outweigh Ticket Discounts
Get Deadline news and alerts FREE to your inbox...
This article was printed from http://www.deadline.com/2011/11/carmike-reports-3q-profit-boost-as-increased-attendance-and-pop-corn-sales-outweigh-ticket-discounts/
SUBSCRIBE TO DEADLINE NEWS
‘Friends’ Reunion – ‘Ellen’
News/Opinion PollLoading ...
By The Numbers
Box Office PollLoading ...