Revenue rose 2% to $130.4 million in latest quarter
HOLLYWOOD — Carmike Cinemas, which recently filed for a bankruptcy reorg plan, Wednesday reported a third-quarter profit of $11.1 million.
That compares with a loss of $2.1 million in the same period last year. Revenue rose 2% to $130.4 million in the latest quarter.
The Columbus, Ga.-based circuit revealed its financial results in a regulatory filing. Carmike also disclosed that it has rejected 130 theater leases since filing for Chapter 11 bankruptcy on Aug. 8.
Exhib proposes to restructure $263.3 million in bank loans. Objections to the plan must be filed by Dec. 1, with a voting deadline set for Dec. 20 and a confirmation hearing skedded Jan. 3.
At the time of its Chapter 11 filing, Carmike listed $841.2 million in assets and $652.9 million in liabilities.
(Dow Jones contributed to this report.)