Carmike Cinemas discusses its plans for GKC Theaters (quotes from 1Q05 conf call)

Below are some comments from Carmike Cinemas (CKEC) from its May 11, 2005 conference call with investors.

…when we surveyed this circuit and did our due diligence that this circuit would need approximately $10 million in Cap Ex for improvement and stadium retro, and new screen additions….

We targeted three markets to start a stadium retro program in the fall….we should have these facilities completed before the Thanksgiving holiday and ready for the holiday season.

We are very excited on what this circuit can bring to us….

We feel that the circuit overall is somewhat depressed in its box office pricing and we think we have opportunity there. … before we pull the trigger on any pricing, we want to be sure that we understand the market and make sure that there is not any underlying reasons for the ticket prices to be as low as they are. We should be able to …have the ticket price increases in effect before the summer gets really rolling.

The concession prices mirror their box office pricing strategies….. we will be pulling certain items off the menu…that are not generating our expectation of profit levels or they are…interfering with the core movie-going items such as popcorn sales and frank sales.

(Quotes from the CCBN StreetEvents transcript.)