Carmike Reports Successful 2015
Carmike Cinemas today reported results for the three and twelve-month periods ended December 31, 2015 and noted continued growth. “Carmike’s record fourth quarter and 2015 full year financial results reflect the ongoing success of our theatre-level initiatives, the progress we are achieving with our value-building theatre acquisition and organic growth strategies and the overall strength of the U.S. box office. Our admissions revenue growth per screen of over 15 percent in the 2015 fourth quarter and 9 percent for the full year outpaced the industry by almost 500 and 200 basis points, respectively. We achieved record results across several key financial metrics, including a 19 percent rise in operating revenues to an all-time quarterly record, as well as a rise in operating income of over 100 percent, which drove increases in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and theatre level cash flow of approximately 61 percent and 51 percent, respectively,” said David Passman, Carmike Cinemas’ president and chief executive officer.
