March 04, 2015 2:10 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 Chuck E. Cheese’s name in the United States and internationally. Its stores provide various dining selections, such as pizzas, sandwiches, wings, appetizers, salad bars, beverages, and desserts, as well as musical and comic entertainment through computer-controlled robotic characters, family-oriented arcade-style and skill-oriented games, video games, rides, and other activities for families with children between 2 and 12 years of age. As of March 13, 2014, the company and its franchisees operated 571 Chuck E. Cheese's stores in 48 states, and 10 foreign countries or territories. The ...

4441 West Airport Freeway

Irving, TX 75062

United States

Founded in 1977

Phone:

972-258-8507

Key Executives for CEC Entertainment Inc.

Chief Executive Officer and Director
Chief Financial Officer
Executive Vice President and Director of Operations
Age: 52
President of International Division
Age: 54
Principal Accounting Officer, Vice President and Controller
Age: 41
Compensation as of Fiscal Year 2014.

CEC Entertainment Inc. Key Developments

CEC Entertainment, Inc. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended December 28, 2014

CEC Entertainment Inc. announced unaudited consolidated financial results for the fourth quarter and full year ended December 28, 2014. For the quarter, total revenues increased 6.8%, or $12.2 million, over the prior year to $190.7 million against $178,568,000 a year ago. The increase primarily related to additional revenues of $12.3 million resulting from the Peter Piper Pizza acquisition, which closed in October 2014. Operating loss was $19,746,000 against operating income of $560,000 a year ago. Loss before income taxes was $37,442,000 against $1,384,000 a year ago. Adjusted EBITDA increased 8.4%, or $2.5 million, over the prior year to $31.8 million against $29,304,000 a year ago. The increase primarily related to $2.9 million in additional Adjusted EBITDA resulting from the Peter Piper Pizza acquisition. The company reported a net loss of $22.2 million compared to a net loss of $0.1 million for the fourth quarter of 2013. The increase in the net loss is primarily due to transaction costs related to the acquisition of Peter Piper Pizza, an increase in depreciation and amortization expense resulting from purchase accounting and additional interest expense. For the full year, total revenues increased 1.4%, or $11.1 million, over the prior year to $832.8 million against $821,721,000 a year ago. The increase primarily related to additional revenues from new Chuck E. Cheese's store openings and additional revenues of $12.3 million resulting from the Peter Piper Pizza acquisition, which closed in October 2014. Operating loss was $29,386,000 against operating income of $83,471,000 a year ago. Loss before income taxes was $91,489,000 against income before income taxes of $76,018,000 a year ago. Adjusted EBITDA increased 5.0%, or $9.3 million, over the prior year to $195.4 million against $186,131,000 a year ago. The increase is a result of increased revenues from new store openings in 2014, store and corporate cost reduction efforts and $2.9 million in additional Adjusted EBITDA resulting from the Peter Piper Pizza acquisition. The company reported a net loss of $61.4 million compared to net income of $47.8 million for the fiscal year 2013. The change to a net loss is primarily due to transaction costs related to the company's going-private transaction, sale-leaseback arrangements of certain of its stores, and the acquisition of Peter Piper Pizza; an increase in depreciation and amortization expense resulting from purchase accounting; and additional interest expense. Capital expenditures were $74.4 million. Net cash provided by operating activities was $70,405,000 against $138,664,000 a year ago. Purchases of property and equipment were $72,267,000 against $74,085,000 a year ago.

CEC Entertainment Inc. to Report Q4, 2014 Results on Feb 26, 2015

CEC Entertainment Inc. announced that they will report Q4, 2014 results After-Market on Feb 26, 2015

CEC Entertainment Inc., Q4 2014 Earnings Call, Feb 27, 2015

CEC Entertainment Inc., Q4 2014 Earnings Call, Feb 27, 2015

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 16, 2014
Peter Piper Pizza, Inc.
Merger/Acquisition
September 9, 2014
CEC Entertainment Inc., 14,305-Square-Foot Chuck E. Cheese's Restaurant at 1636 N. Germantown
 

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