Strong slate helps increase revenues 13%
Boosted by a strong film slate, Carmike Cinemas has posted second-quarter earnings of $2.2 million compared with a $2.2 million loss in the year-ago period.Revenues increased 13% to $133.1 million. “We benefited from a very strong film slate, including two high-profile 3-D motion pictures — ‘Monsters vs. Aliens,’ which was released at the end of the first quarter by DreamWorks Animation, and Disney/Pixar’s ‘Up,'” Carmike chief David Passman said. Passman also said the second half looks promising. “Several widely anticipated 3-D movies will be released that we believe should play well on Carmike’s leading digital 3-D theater platform,” he added. Carmike, which operates 247 theaters with 2,285 screens, said average admission rose 34¢ to $6.50 while average concession sales fell 6¢ to $3.23.