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CINEMARK USA, INC. REPORTS FIRST QUARTER EARNINGS

 DALLAS, May 7 /PRNewswire/ -- Cinemark USA, Inc. today reported that its revenues for the first quarter ended March 31, 1993 were up 15.6 percent to $50.8 million from $43.9 million in the same period last year. The increase in revenue resulted primarily from the addition of 116 screens since the first quarter of 1992. Revenues for theaters opened prior to the first quarter of 1992 ("same stores") remained constant despite a down quarter for the industry. Net income for the period was $1.6 million compared to $2.9 million a year earlier. The decrease in net income resulted primarily from an increase of $2.3 million in interest expense in the first quarter of 1993 to $3.9 million from $1.6 million in the same period last year.
 Operating income for the first quarter was $6.0 million compared to $5.4 million in the same period last year. Operating income before non cash expenditures (EBITDA), a key measure of the company's cash flow, was $9.1 million for the first quarter of 1993 vs. $8.4 million for the first quarter of 1992.
 Cinemark USA, Inc., headquartered in Dallas, Texas, is the sixth largest motion picture exhibitor in the United States in terms of the number of theater screens operated. At May 7, 1993, the company operated 1,073 screens in 26 states.
 CINEMARK USA, INC.
 Financial Summary
 (In thousands, except per share)
 First quarter ended March 31 1993 1992
 Total revenues $ 50,775 $ 43,917
 Operating income (loss) (A) 6,009 5,398
 EBITDA (B) 9,068 8,363
 Net earnings 1,642 2,901
 Earnings per common share $ 10.13 $ 13.73
 Average shares outstanding 162,032 211,253
 (A) -- Total revenues less cost of operations, depreciation and amortization and general and administrative expenses.
 (B) -- Represents operating income plus non cash items included in operating income.
 -0- 5/7/93
 /CONTACT: Jeff Stedman, CFO of Cinemark USA, Inc., 214-696-1644 or (fax) 214-369-9972/


CO: Cinemark USA, Inc. ST: Texas IN: ENT SU: ERN

TS -- NY063 -- 6091 05/07/93 16:02 EDT
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Publication:PR Newswire
Date:May 7, 1993
Words:349
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