Business

Steadily expanding Carmike to report quarterly, 2015 earnings data on Feb. 29

BY TONY ADAMS

tadams@ledger-enquirer.com

Carmike Cinemas, headquartered in Columbus and the fourth-largest movie theater chain in the U.S., has set the date for release of its fourth-quarter and full-year 2015 financial information.

The company will issue its earnings report after the stock markets close on Feb. 29. Carmike shares are traded on the Nasdaq exchange.

Wall Street analysts surveyed by research firm Thomson Financial are currently expecting the company to report, on average, quarterly revenues of nearly $211 million and earnings per share of 12 cents. Carmike posted a loss of 4 cents a share in the October-December period the year prior.

Highlights for the company in 2015 included an agreement with Fathom Events to expand alternative programming, particularly special events, to 150 locations by the end of the year.

The firm also opened new theaters and complexes in Bloomington, Ill., Yulee, Fla., Midlothian, Va., New Smyrna Beach, Fla., Spring Hill, Tenn., Athens, Ga., Duncansville, Pa., Lawton, Okla., Traverse City, Mich., Missoula, Mont., and Albuquerque, N.M. A week ago, it opened a new complex in Tulsa, Okla. It now reports 274 theaters and 2,930 total screens in 41 states.

Carmike also pulled the trigger last year on a $36 million purchase of Los Angeles-based Sundance Cinemas, the chain associated with major motion picture actor Robert Redford. That deal added five theaters and 37 screens to the Columbus company’s portfolio.

The firm also refinanced $230 million of its debt to more favorable terms, adding a $50 million revolving line of credit in the process. Its board of directors also authorized the repurchase of $50 million of the corporation’s stock.

In trading Thursday on the Nasdaq exchange, Carmike shares gained 3 cents to close at $20.39 apiece. The stock’s 52-week performance range is $18.52 to $34.94 per share.

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