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CINEMARK USA REPORTS THIRD QUARTER EARNINGS

 CINEMARK USA REPORTS THIRD QUARTER EARNINGS
 DALLAS, Oct. 30 /PRNewswire/ -- Cinemark USA, INC. today reported


that its revenues for the third quarter ended Sept. 30, 1992 were up 10 percent to $51.2 million from $46.4 million in the same period last year despite a down quarter for the industry with box office results down 3 percent for the third quarter of 1992 compared to the third quarter of 1991. The increase in revenue resulted primarily from the addition of 98 screens since the third quarter of 1991. Net income for the period was $.88 million compared to $3.1 million a year earlier. The decrease in net income resulted primarily from an increase of $2.1 million in interest expense in the third quarter of 1992 to $3.7 million from $1.6 million in the same period last year.
 Operating income for the third quarter was $5.2 million compared to $6.0 million in the same period last year. Operating income before non cash expenditures (EBITDA), a key measure of the company's cash flow, was $8.1 million for the third quarter of 1992 vs. $8.7 million for the second quarter of 1991.
 For the nine month period ended Sept. 30, 1992, revenues increased 16 percent to $143.9 million compared to $124.0 million for the year ago nine month period. Net income was $5.1 million ended Sept. 30, 1992, vs. nine months period from $5.2 million for the same period in 1991.
 Operating income for the nine month period ended Sept. 30, 1992 increased 23 percent to $16.1 million from $13.1 million. EBITDA increased 17 percent to $24.9 million from $21.2 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 Oct. 30, 1992, the company operated 1,006 screens in 25 states.
 CINEMARK USA, INC.
 Financial Summary
 For the fiscal third quarter and nine months
 ended September 30, 1992 and September 30, 1991
 (In Thousands, Except Per Share)
 Periods ended Third quarter Nine months
 Sept. 30, 1992 1991 1992 1991
 Total Revenues $51,185 $46,411 $143,911 $124,033
 Operating
 Income(A) 5,189 6,016 16,100 13,138
 EBITDA(B) 8,143 8,712 24,896 21,226
 Net Earnings 882 3,083 5,056 5,201
 Earnings per
 Common Share $ 5.47 $ 14.43 $ 27.30 $ 24.34
 Average Shares
 Outstanding 161,297 213,685 185,168 213,685
 (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- 10/30/92
 /CONTACT: Steve Holmes, C.F.O. of Cinemark USA, Inc., 214-696-1644, or 214-369-9972 (FAX)/ CO: Cinemark USA, Inc. ST: Texas IN: ENT SU: ERN


SH -- NY020 -- 7003 10/30/92 09:27 EST
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Publication:PR Newswire
Date:Oct 30, 1992
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