The mostly rural theater chain reported net income of $3.1M, up from $530,000 in the period last year, on revenues of $134M, up 8.5%. The revenue figure nearly matched the $134.43M that analysts expected, while profits, at 24 cents a share, beat forecasts by a penny. Carmike says that the average price consumers spent for a ticket fell 1.8% to $6.49 due to “increased discounts and promotional activities.” But it had a 5.6% pickup in box office sales as average attendance per screen grew 7.8%. It also saw 14.4% growth in revenues from concessions as the average consumer spent $3.57, up 6.3%. As for 4Q, CEO David Passman says that “we expect the quarter to finish strongly.”
Carmike Reports 3Q Profit Boost As Increased Attendance And Pop Corn Sales Outweigh Ticket Discounts
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