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CINEMARK USA REPORTS SECOND QUARTER EARNINGS

 DALLAS, Aug. 10 /PRNewswire/ -- Cinemark USA, Inc. today reported that its revenues for the second quarter ended June 30, 1993 were up 12.8 percent to $55.1 million from $48.8 million in the same period last year. The increase in revenue resulted primarily from the addition of 122 screens since the second quarter of 1992. Net income for the period was $.6 million compared to $1.3 million a year earlier. The decrease in net income resulted primarily from an increase of $1.0 million in interest expense in the second quarter of 1993 to $3.8 million from $2.8 million in the same period last year.
 Operating income for the second quarter was $5.0 million compared to $5.5 million in the same period last year. Operating income before non- cash expenditures (EBITDA), a key measure of the company's cash flow, was $8.0 million for the second quarter of 1993 vs. $8.4 million for the first quarter of 1992.
 For the six month period ended June 30, 1993, revenues increased 14.1 percent to $105.8 million compared to $92.7 million for the year ago six month period. Net income decreased 46.5 percent to $2.2 million from $4.2 million.
 Operating income for the six month period ended June 30, 1993 remained constant at $10.9 million. EBITDA increased 1.7 percent to $17.0 million from $16.8 million in the year ago period.
 Cinemark USA, Inc., headquartered in Dallas, is the sixth largest motion picture exhibitor in the United States in terms of the number of theater screens operated. At Aug. 10, 1993, the company operated 1,083 screens in 26 states.
 CINEMARK USA, INC.
 Financial Summary
 (In thousands, except per share)
 Second Quarter Six Months
 Period ended June 30, 1993 1992 1993 1992
 Total Revenues $55,058 $48,813 $105,833 $92,730
 Operating Income(A) 4,964 5,512 10,974 10,910
 EBITDA(B) 7,963 8,391 17,032 16,754
 Net Earnings 595 1,273 2,237 4,174
 Earnings per
 Common Share $3.68 $6.96 $13.82 $21.18
 Average Shares
 Outstanding 161,685 182,955 161,859 197,104
 (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- 8/10/93
 /CONTACT: Jeff Stedman, CFO, of Cinemark USA, 214-696-1644, or fax 214-369-9972/


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

MP -- NY067 -- 1279 08/10/93 14:40 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
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