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CINEMARK USA REPORTS INCREASED FOURTH QUARTER RESULTS

 DALLAS, March 26 /PRNewswire/ -- Cinemark USA, Inc. today reported that its revenues for the fourth quarter ended Dec. 31, 1992 were up 26 percent to $50.7 million from $40.4 million in the same period last year. Net income for the period was $.6 million compared to a loss of $1.5 million a year earlier. Included in net income for the quarter ended Dec. 31, 1991 was a net extraordinary loss of $1.1 million related to a loss on early extinguishment of debt.
 Operating income for the fourth quarter was $3.8 million compared to $.95 million in the same period last year. Operating income before non cash expenditures (EBITDA), a key measure of the company's cash flow, was $6.4 million for the fourth second quarter of 1992 versus $4.6 million for the fourth quarter of 1991, an increase of 40 percent. Cinemark's Chief Executive Officer, Lee Roy Mitchell, said the results are an indication of more successful film product and Cinemark's improved operating margins.
 For the year ended Dec. 31, 1992, revenues increased 18 percent to $194.7 million compared to $164.4 million for the year 1991. Net income rose 58 percent to $5.8 million from $3.7 million.
 Operating income for the year ended Dec. 31, 1992 increased 41 percent to $19.9 million from $14.1 million. EBITDA increased 21 percent to $31.3 million from $25.8 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 March 25, 1993, the company operated 1,059 screens in 26 states.
 CINEMARK USA, INC.
 Financial Summary
 Fiscal Fourth Quarter and Year
 (In Thousands, Except Per Share)
 Periods ended Fourth quarter Year
 Dec. 31, 1992 1991 1992 1991
 Total Revenues $ 50,740 $ 40,391 $194,652 $164,425
 Operating Income
 (Loss) (A) 3,778 954 19,878 14,092
 EBITDA (B) 6,352 4,563 31,249 25,788
 Net Earnings 637 (1,500) 5,829 3,701
 Earnings per
 Common Share $ 3.93 $ (7.19) $ 32.50 $ 17.42
 Avg. Shares Outstg. 162,032 208,837 179,337 212,491
 (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- 3/26/93
 /CONTACT: Steve Holmes, CFO of Cinemark USA, Inc., 214-696-1644, or FAX, 214-369-9972/


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

SH -- NY010 -- 9975 03/26/93 09:41 EST
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Publication:PR Newswire
Date:Mar 26, 1993
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