- Carmike Cinemas (NASDAQ:CKEC) has tumbled after hours, -11.7%, following on a Q2 earnings report where profits missed expectations substantially, and despite revenues that grew 19.7% Y/Y.
- Revenue breakout: Admissions, $135M (up 17.3%); Concessions and other, $84.1M (up 23.9%). EBITDA of $40.8M missed an expected $45.2M.
- Average attendance per screen was up 5%, to 6,145. Average admission/patron was $7.62, up 3.1%, while average concessions/other sales per patron was $4.75, up 8.9%.
- Attendance was up, boosted by early summer hits like Avengers: Age of Ultron and Jurassic World. But exhibition costs were up 23% to $79.3M -- and up to 58.7% of admission revenue, from 56% a year ago, "reflecting a higher concentration of strong performing titles."
- Press Release