Carmike Cinemas Provides Updated Non-GAAP Financial Information Business Wire COLUMBUS, Ga. -- August 02, 2012 Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema and 3-D motion picture exhibitor, today provided an update to its non-GAAP financial information for the three and six month periods ended June30, 2012 and 2011. In the table below, Carmike has updated its presentation of adjusted net income (loss) to present adjustments to net income (loss) net of tax effect. This update has no effect on Carmike’s previously reported revenue, theatre level cash flow, adjusted EBITDA, total debt and net debt for the three and six month periods ended June30, 2012 and 2011. Going forward, Carmike intends to present adjusted net income (loss) on this basis. ADJUSTED NET INCOME (LOSS) (Unaudited) (in thousands, except per share data) Three Months Six Months Ended June 30, Ended June 30, 2012 2011 2012 2011 Net income $ 1,198 $ 5,883 $ 4,429 $ (12,515 ) (loss) Impairment of long-lived 50 1,164 1,536 1,325 assets Write-off of note - 750 - 750 receivable Loss on extinguishment 4,961 - 4,961 - of debt Severance agreement 493 845 493 845 charges Tax effect of adjustments to (2,174 ) (1,090 ) (2,761 ) (1,153 ) net income (loss) (1) Adjusted net $ 4,528 $ 7,552 $ 8,658 $ (10,748 ) income (loss) Weighted average shares 16,963 12,796 14,894 12,790 outstanding (basic) Weighted average shares 17,364 12,827 15,147 12,790 outstanding (diluted) Adjusted net income (loss) $ 0.27 $ 0.59 $ 0.58 $ (0.84 ) per share (basic) Adjusted net income (loss) $ 0.26 $ 0.59 $ 0.57 $ (0.84 ) per share (diluted) Adjustments to net income (loss) for the three and six months (1) ended June 30, 2012 and 2011 are shown net of tax effect of 39.5%, which represents the estimated combined federal and state tax rates. Supplemental Financial Measures Adjusted net income (loss) is defined as net income (loss) plus impairment of long-lived assets, write-off of note receivable, loss on extinguishment of debt, and severance agreement charges, net of tax effect. Carmike believes adjusted net income (loss) is an important supplemental measure of operating performance for a motion picture exhibitor because it provides a measure of core operations. About Carmike Cinemas (www.carmike.com) Carmike Cinemas, Inc. is a U.S. leader in digital cinema and 3-D cinema deployments and one of the nation’s largest motion picture exhibitors. As of June30, 2012, Carmike had 233 theatres with 2,245 screens in 35 states. Carmike’s digital cinema footprint reached 2,122 screens, including 209 theatres with 750 screens that are also equipped for 3-D. The circuit also includes 13 Big D large format digital experience auditoriums, featuring state-of-the-art equipment and luxurious seating. As ‘America’s Hometown Theatre chain,’ Carmike’s primary focus for its locations is small to mid-sized communities. Contact: J C I R Robert Rinderman / Jennifer Neuman, 212-835-8500 Investor Relations/Corporate Communications email@example.com or Carmike Cinemas, Inc. Richard B. Hare, 706-576-3416 Chief Financial Officer
Carmike Cinemas Provides Updated Non-GAAP Financial Information
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