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The Marcus Corporation Reports Third Quarter Results

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By Business Wirevia The Motley Fool

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The Marcus Corporation Reports Third Quarter Results

Results impacted by weaker film slate and one-time legal expenses

MILWAUKEE–(BUSINESS WIRE)– The Marcus Corporation (NYS: MCS) today reported results for the third quarter ended February 28, 2013. The company’s results were impacted by a weaker overall film slate for Marcus Theatres® compared to the prior year and one-time lawsuit settlement costs for Marcus® Hotels & Resorts.


Third Quarter Fiscal 2013 Highlights

  • Total revenues for the third quarter of fiscal 2013 were $93,674,000, a 1.7% increase from revenues of $92,077,000 for the third quarter of fiscal 2012.
  • The company reported an operating loss of $(224,000) for the third quarter of fiscal 2013, compared to operating income of $4,075,000 for the third quarter of fiscal 2012.
  • The company reported a net loss attributable to The Marcus Corporation of $(1,372,000), or $(0.05) per diluted common share, for the third quarter of fiscal 2013, compared to net earnings attributable to The Marcus Corporation of $734,000, or $0.03 per diluted common share, for the third quarter of fiscal 2012.
  • Results for the third quarter of fiscal 2013 were unfavorably impacted by unusual items totaling approximately $2.0 million, or $0.04 per diluted common share, consisting of approximately $1.4 million of costs related to the settlement of lawsuits concerning the company’s Las Vegas property and a $618,000 impairment charge in the theatre division.
  • Results for the third quarter of fiscal 2013 include $6,008,000 of income from the extinguishment of debt related to debt refinancing at the Skirvin Hilton hotel. The income had no impact on net earnings attributable to The Marcus Corporation, however, due to the company’s determination that the entire amount was attributable to non-controlling interests.


First Three Quarters Fiscal 2013 Highlights
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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Marcus Theatres® Announces New UltraScreen® at Gurnee Cinema

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By Business Wirevia The Motley Fool

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Marcus Theatres® Announces New UltraScreen® at Gurnee Cinema

New auditorium will provide moviegoers an unparalleled audiovisual experience

MILWAUKEE–(BUSINESS WIRE)– Marcus Theatres® , a division of The Marcus Corporation (NYS: MCS) , today announced that construction has begun on the company’s 15thUltraScreen® at the Gurnee Cinema in Gurnee, Ill. Two of the theatre’s 20 screens are being demolished to make room for a completely new UltraScreen auditorium. The 424 seat UltraScreen will be 72 foot-wide, 31 foot-tall and the first to feature Auro 11.1 audio, the next-generation immersive sound format from Barco.

Every aspect of the new UltraScreen addition is engineered for the ultimate in picture, sound and comfort. Not only does the UltraScreen provide moviegoers with a razor sharp picture and a totally new level of excitement that can never be experienced at home, but it also is the ultimate in comfort featuring plush memory foam seats with reclining backs.

“Marcus Theatres is continuously striving to meet our customers’ sophisticated tastes and desire for a truly unique experience when going to the movies,” said Bruce J. Olson, president of Marcus Theatres. “The giant UltraScreen, combined with the Auro 11.1 system, will provide moviegoers with a stunning audio and visual experience unmatched in the film industry.”

Famed filmmaker George Lucas once said that sound accounts for 50 percent of the movie experience, which means that moviegoers at the Gurnee Cinema are in for a feast of sight and sound. In addition to the remarkable size and clarity of the UltraScreen images, they will experience fully immersive sound with Auro 11.1 technology. Auro 11.1 uses a sound reproduction speaker layout based on three axes (width, depth and height) to create a spectacular sound experience. Ambient sounds come from all directions, providing moviegoers with the most true-to-life reproduction of sound. This creates a fundamentally different experience from traditional surround sound.

The addition is expected to be completed by October in time for the big fall releases. The Gurnee Cinema is located at 6144 Grand Avenue, in Gurnee, Ill. at the northwestern side of Gurnee Mills Mall.


About Marcus Theatres

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Source: FULL ARTICLE at DailyFinance