Cinema Ride Announces Positive Cash Flow.Business Editors STUDIO CITY, Calif.--(BUSINESS WIRE)--Aug. 16, 2000 Cinema Ride Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :Move) announced its second quarter results today that revealed a positive operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. for the second quarter (before depreciation) and also for the first six months of this year (before depreciation and new facility start-up costs). The second quarter net operating cash flow (before depreciation) was $31,544 and for the first six months, the net operating cash flow (before depreciation and start-up costs) was $9,581. Revenue for the quarter increased by $105,323, or 15.9% as compared to the same quarter last year. The company attributes most of the increase to the opening of its newest facility at the Jersey Gardens Mall. Selling, general and administrative expenses increased by $42,662. The increase is largely attributable to operations at the new facility. The company reported a net loss for the quarter of $66,140, including depreciation and amortization of $97,684. Mitch The name Mitch can mean:
Cinema Ride develops, owns and operates motion simulation theater attractions at leading destination tourist sites in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. The company's fifteen seat motion simulation capsules feature six-axis, military-quality flight simulator flight simulator, device providing a controlled environment in which a flight trainee can experience conditions approximating those of actual flight. A simulator generally consists of an enclosure housing a working replica of the interior of the cockpit of an hardware that is computer-programmed to move in concert with action viewed on a motion picture screen. The Cinema Ride facilities were the first to feature 3-D ride films and utilize the company's patented 3-D technology. The company's library includes such titles as "Atlantis Submarine submarine, naval craft capable of operating for an extended period of time underwater. Submarines are almost always warships, although a few are used for scientific or business purposes (see also submersible). Race," "Runaway Coasters," "Haunted haunt v. haunt·ed, haunt·ing, haunts v.tr. 1. To inhabit, visit, or appear to in the form of a ghost or other supernatural being. 2. Graveyard Run" and "Warren Miller's Ski Ride." NOTE: Except for the historical information contained herein, the statements made in this release constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, and the other risks detailed from time to time in the company's reports on file at the Securities and Exchange Commission. |
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