July 30, 2016 10:25 AM ET

Hotels, Restaurants and Leisure

Company Overview of CEC Entertainment Inc.

Company Overview

CEC Entertainment, Inc. develops, operates, and franchises family dining and entertainment centers under the names of Chuck E. Cheese’s and Peter Piper Pizza in the United States and internationally. The company’s stores provide various pizzas, wings, appetizers, salads, sandwiches, and desserts, as well as certain gluten-free options; soft drinks, coffee, tea, beer, and wine; and lunch buffet options with unlimited pizza, salad, and breadsticks. Its stores also offer video games, skill games, rides, and other attractions, as well as tokens, tickets, and prizes. As of January 3, 2016, the company and its franchisees operated approximately 592 Chuck E. Cheese's stores and 140 Peter Piper Pizz...

1707 Market Place Boulevard

Suite 200

Irving, TX 75063

United States

Founded in 1977

19,000 Employees

Phone:

972-258-8507

Key Executives for CEC Entertainment Inc.

Chief Executive Officer and Director
Age: 44
President
Age: 56
Chief Financial Officer and Executive Vice President
Age: 52
Executive Vice President and Director of Operations
Age: 54
Chief Information Officer and Senior Vice President
Age: 53
Compensation as of Fiscal Year 2016.

CEC Entertainment Inc. Key Developments

CEC Entertainment Inc. Announces Unaudited Consolidated Financial Results for the First Quarter Ended April 3, 2016; Provides Capital Expenditures Guidance for 2016

CEC Entertainment Inc. announced unaudited consolidated financial results for the first quarter ended April 3, 2016. Total revenues for the first fiscal quarter of 2016 increased 3.3%, or $8.8 million, over the prior year to $274.3 million against $265.5 million for the same period of last year. The increase is primarily attributable to increased same store sales at both the Chuck E. Cheese's and Peter Piper Pizza brands, despite the calendar shift. On a calendar week basis same store sales for the Chuck E. Cheese's and Peter Piper Pizza stores increased 6.0% over the comparable weeks in 2015. Adjusted EBITDA for the first quarter of 2016 increased $1.4 million over the prior year $80.7 million for period to $82.1 million. The increase is driven by increased store revenues, offset by increased marketing expenses and approximately $0.4 million of incremental deferred revenue, primarily as a result of the PlayPass implementation. The company reported net income of $17.9 million for the first quarter of 2016, compared to net income of $14.7 million for the first quarter of 2015. In addition the company benefited from lower interest and income tax costs in the current year quarter. During the first quarter of 2016, the company had capital expenditures of $22.2 million, of which $4.3 million related to PlayPass initiative and another $5.2 million were related to other growth initiatives. In addition, the company had $4.4 million in capital expenditures related to IT initiatives. Operating income was $46,348,000 against $44,687,000 for the same period of last year. Income before income taxes was $29,287,000 against $27,188,000 for the same period of last year. Net cash provided by operating activities was $43,772,000 against $60,548,000 for the same period of last year. Purchases of property and equipment was $18,823,000 against $16,109,000 for the same period of last year. The company continue to estimate that capital expenditures for 2016 will total $105 million to $115 million, of which approximately $30 million will be on maintenance capital, $10 million on IT efforts and new inventory management system. The company still anticipates spending $40 million to $45 million over the year on new locations, remodels and relocations and $25 million to $30 million related to Play Pass.

CEC Entertainment Inc., Q1 2016 Earnings Call, May 06, 2016

CEC Entertainment Inc., Q1 2016 Earnings Call, May 06, 2016

CEC Entertainment Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended Jan. 3, 2016; Provides Capital Expenditure Guidance for the Year 2016

CEC Entertainment Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended Jan. 3, 2016. For the quarter, total revenues were $223,065,000 against $190,742,000 a year ago. Operating loss was $1,867,000 against $19,746,000 a year ago. Loss before income taxes was $20,417,000 against $37,442,000 a year ago. Net loss was $14,158,000 against $22,153,000 a year ago. Adjusted EBITDA was $45,709,000 against $31,763,000 a year ago. For the quarter, capital expenditures were approximately $18.1 million, of which $9.3 million were related to growth initiatives and other various tests. In addition, the company had $4.9 million in capital expenditures related to IT initiatives. For the full year, total revenues were $922,589,000 against $718,581,000 a year ago. Operating income was $55,131,000 against loss of $32,259,000 a year ago. Loss before income taxes was $15,451,000 against $93,211,000 a year ago. Net loss was $12,510,000 against $62,088,000 a year ago. Net cash provided by operating activities was $100,613,000 against $48,091,000 a year ago. Purchases of property and equipment were $73,034,000 against $61,028,000 a year ago. Adjusted EBITDA was $220,936,000 against $170,456,000 a year ago. CapEx for the full year were $77.8 million. For the year 2016, the company estimates that its capital expenditures will range from approximately $105 million to $115 million. Approximately $30 million of this will be spent for maintenance capital and approximately $10 million on information technology efforts and the improved inventory management system. Additionally, the company currently anticipate spending $40 million to $45 million on new locations, remodels and relocations of existing stores. And finally, the company anticipates spending approximately $25 million to $30 million related to its Play Pass initiatives.

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