Carmike reports losses; but admissions revenue up -, GA News Weather & Sports

Carmike reports losses; but admissions revenue up

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COLUMBUS, GA (WTVM) - Columbus-based Carmike Cinemas Inc. is reporting its earnings in the  third quarter.

The cinema owner and operator reported a net loss of $20.7 million and a loss of $1.63 a share.  

Its third-quarter revenue stayed flat at $124.4 million.  Company officials say box office numbers were weak in the third quarter compared to the same time last year.

While the industry as a whole is experiencing a decline in admissions revenue, Carmike did see a bump in admissions revenue.  The average admission per patron was up 23 cents at  $6.46, while the average concessions per patron was down 5 cents to $3.17.  

 "The beginning of the third quarter was weak at the box office compared to the same period in 2008, but receipts improved as the quarter progressed based on the strengthening of the film slate," said Carmike Cinemas President and CEO David Passman, in an earnings statement. "Carmike's Q3 admissions revenue rose 1.8 percent compared to a 0.6 percent decline for the industry."

Click here to view Carmike's official press release.  

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