Tag Archives: Carmike Cinemas

Business, Finance, Occupation & Industry

Carmike Cinemas to Open Its Second Ovation Dining Club VIP Dining Experience at the Grand Boulevard

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By Business Wirevia The Motley Fool

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Carmike Cinemas to Open Its Second Ovation Dining Club VIP Dining Experience at the Grand Boulevard 10 Entertainment Complex in Sandestin, FL on March 29

– Boulevard 10 Brings the Theatre-Going Entertainment Experience to a Dramatic New Level in Sandestin with the Ovation Dining Club –

COLUMBUS, Ga. & DESTIN, Fla.–(BUSINESS WIRE)– Carmike Cinemas, Inc. (NAS: CKEC) , a leading DIGITAL cinema and 3-D motion picture exhibitor, announced today that its state-of-the-art Boulevard 10 entertainment complex, set to open March 29th, will be home to the theatre circuit’s second Ovation Dining Club, an upscale dining and movie-going experience that is the “dinner-and-a-movie” concept tweaked and enhanced for the 21st Century.

Located in Grand Boulevard at Sandestin, a beautifully landscaped retail center known for its high-end shopping and dining establishments, the Ovation Dining Club in the Boulevard 10 offers moviegoers a more intimate, sophisticated experience, replete with lush leather seating, swing around tables, a wall-to-wall movie screen, wide selection of premium beers and wine and a full-service restaurant experience.

Imagine immersing oneself in the latest Hollywood blockbuster while being served succulent dishes that range from a simple cheese plate of gruyere and brie with apple, dried and fresh fruit, compote, and toasted baguette; to seared bay scallops with grilled polenta, topped with micro greens and garnished with basil oil and red pepper drizzle; to a soy-glazed chicken breast wrapped in a tomato herb tortilla, with a sweet Asian sesame slaw, peppers, onion, garlic and carrots.

That is a long way from popcorn and candy. But then again, the Ovation Dining Club is for a different type of movie and dining experience. The luxury recliners and over-21 age policy create a perfect backdrop for a date night with that special someone. The drinks, appetizers, and dessert options make it a great spot for a girls’ night out; and the time saved by doing dinner with a movie produce the perfect venue for after-work social gatherings.

It’s a movie theatre. It’s a restaurant. It is the premiere place to watch the future of film and experience the future of film-going, all while enjoying delicious appetizers, entrees, desserts and your favorite wines and beers brought right to your seat.

Join Carmike Cinemas and Grand Boulevard at Sandestin as they celebrate the grand opening of the Boulevard 10 and its crown jewel: the Ovation Dining Club.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Carmike Cinemas: Best of Breed, But Is It Cheap Enough?

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By Michael Lewis, The Motley Fool

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While rising content costs have kept some media companies from raising their bottom lines, movie theaters seem to be navigating the waters well. One regional theater chain knee-deep in its restructuring effort, Carmike Cinemas , has been particularly successful in recent times. The company recently released a stellar earnings report, contributing even more to its more than 30% run since October of last year. Carmike was long ignored as a stock because it is regional player that cannot benefit from the same efficiencies of scale as other, larger theater chains. By now, the secret is out that this company is likely the top pick in the industry, but is it too late for you to invest? Let’s take a closer look.

Business overview and why I like it
Carmike may not be a very exciting company. In fact, it’s not. It’s not as profitable as its national competitors, Regal Entertainment Group and Cinemark, and it has a troubled history — emerging from bankruptcy in 2001. But company management has made some fantastic decisions over the years that has it on the road to real growth. For one, the company took a stake in theater advertising firm Screenvision, and it’s been accretive to Carmike’s bottom line ever since. Instead of the typical revenue share agreement between theaters and advertisers, Screenvision paid Carmike $30  million in cash (which was a lot for the company at the time), and offered a 20% stake. The latter is what proved to be a stellar long-term growth driver, in addition to other organic avenues.

As mentioned by a Wedbush Securities analyst, Carmike is growing its screen count. In two acquisitions during the fourth quarter, it picked up an additional 267 screens. Though films have not steadily produced big returns for their producers, box-office ticket sales are flying high, driven by big 3-D ticket sales.

Back in 2011, value investor Chris Mittleman identified his price target at $17 per share — just short of 6% upside to today’s price. The company has certainly performed well over the last couple of years, but is the margin of safety gone from this theater outperformer?

Recent earnings
Organic screen growth and the Screenvision stake will keep Carmike growing on the income statement, but is that already baked into the stock price?

The most recent earnings release may have some hints.

Fourth-quarter revenue rose up 23% to $146.6 million. Theater level cash flows grew by 32% to $35.6 million. Full-year box-office gains bested the industry by an impressive 220 basis points and helped bring adjusted EBITDA up 60% from 2011. The company has passed the 2,500-screen mark, and seems on track to hit 3,000 screens. Both admissions receipts and concessions rose year over year, confirming solid organic growth on both bottom and top levels.

But let’s get down to it. In his 2011 interview with The Wall Street Journal, Mittleman thought a reasonable, if conservative, EBITDA multiple for the industry would be seven times. Currently, the …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Carmike Cinemas Beats on Both Top and Bottom Lines

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By Seth Jayson, The Motley Fool

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Carmike Cinemas (NAS: CKEC) reported earnings on March 14. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Dec. 31 (Q4), Carmike Cinemas beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share expanded significantly.

Margins grew across the board.

Revenue details
 Carmike Cinemas notched revenue of $146.6 million. The eight analysts polled by S&P Capital IQ expected to see revenue of $142.2 million on the same basis. GAAP reported sales were 22% higher than the prior-year quarter’s $120.1 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.47. The eight earnings estimates compiled by S&P Capital IQ anticipated $0.26 per share. Non-GAAP EPS of $0.47 for Q4 were 57% higher than the prior-year quarter’s $0.30 per share. GAAP EPS of $5.19 for Q4 were much higher than the prior-year quarter’s $0.13 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 24.3%, 400 basis points better than the prior-year quarter. Operating margin was 12.0%, 310 basis points better than the prior-year quarter. Net margin was 62.5%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter’s average estimate for revenue is $138.3 million. On the bottom line, the average EPS estimate is $0.14.

Next year’s average estimate for revenue is $615.8 million. The average EPS estimate is $1.14.

Investor sentiment
 The stock has a one-star rating (out of five) at Motley Fool CAPS, with 53 members out of 99 rating the stock outperform, and 46 members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 16 give Carmike Cinemas a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Carmike Cinemas is outperform, with an average price target of $21.21.

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The article Carmike Cinemas Beats on Both Top and Bottom Lines originally appeared on Fool.com.


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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Carmike to Bring New Critically Acclaimed "BIGD" Experience to Snellville, GA Area Movie-Goers with

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By Business Wirevia The Motley Fool

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Carmike to Bring New Critically Acclaimed “BIGD” Experience to Snellville, GA Area Movie-Goers with Development of the Carmike 13 Entertainment Complex

COLUMBUS, Ga–(BUSINESS WIRE)– Carmike Cinemas, Inc. (NAS: CKEC) , a leading DIGITAL cinema and 3D motion picture exhibitor, today announced that construction will begin shortly on a new Carmike Cinemas entertainment complex in Snellville, GA. The Carmike 13 will be an anchor tenant of a 43 acre multi-use development to be constructed at the corner of Scenic Highway 124 near Webb Jen House Road, Snellville’s fastest growing area. The planned development is located directly across the street from a new “The Avenue,” making this a prime site that will attract additional top-tier retail, restaurant and commercial tenants to the area.

The new theatre will feature 13 screens with total seating for over 2,800 guests and will be highlighted by a state-of-the-art “BIGD” auditorium, Carmike’s acclaimed premium theatre environment. The new facility will be equipped with auditoriums featuring stadium style seating, with comfortable high back rocking luxury seats, in addition to retractable armrests and convenient cup holders. The Carmike 13 will also contain large, wall-to-wall screens, as well as DLP DIGITAL projection and DIGITAL sound. The new theatre will have an upscale lobby and multiple concession areas featuring Coca-Cola Freestyle drink centers. One-stop ticketing and concessions stations are a unique design feature of the Carmike 13. Filmgoers can escape the elements, purchase their tickets and favorite concessions and quickly move into their comfortable seats. The new complex will also feature special services for the visually and hearing impaired.

Notes Carmike President and CEO David Passman: “We’re providing the ultimate entertainment experience that centerpieces large format DIGITAL with bigger screens, bigger sound, and luxurious theatre seating for cutting-edge presentation and the definitive enjoyment of our audiences.” With the opening of the new location, the Snellville area joins a select and growing list of communities across the nation offering Carmike theatregoers the exciting new “BIGD” format. The “BIGD” auditorium will seat nearly 600 guests in luxurious comfort. “Carmike continues actively expanding our growing circuit, on our way to 300 theatres and 3,000 screens through selective acquisitions and the addition of multiple new-build theatres in promising locations like Snellville, across ‘Hometown America.'”

Expected to draw area movie-goers from across the region, the “BIGD” Experience features cutting edge theatre amenities, which will immerse the theatregoer in the movie experience. The “BIGD” auditorium features the incredible wall-to-wall screen measuring over 81 feet wide and three stories tall. To further enhance the experience, the custom QSC DIGITAL audio system is tuned to …read more
Source: FULL ARTICLE at DailyFinance