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GCC parent sees 3rd quarter loss

Company sees operating loss of $900K

HOLLYWOOD — GC Companies, the parent company of General Cinemas, said investment losses added to fiscal third-quarter red ink from its movie circuit for an overall loss of $10.1 million.

That compared to net income of $3.8 million in the same period of the previous fiscal year.

The Chestnut Hill, Mass.-based company, which has investments in global telecoms and other companies in addition to operating the 1,060-screen theater chain, said General Cinemas saw an operating loss of $900,000 in the three-month period ended July 31. The circuit had posted an operating profit of $1.9 million in the year-ago quarter.

GC’s total revenue was off 6% in the latest quarter, at $108.6 million.

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