The Marcus Corporation Reports Fourth Quarter and Fiscal 2011 Results (United States)
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The Marcus Corporation Reports Fourth Quarter and Fiscal 2011 Results (United States)
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Category: North America & West Indies / Carribean islands - United States - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2011-07-22
Marcus Theatres(R) reports strong fourth quarter; Full year results for Marcus Hotels increase significantly
The Marcus Corporation (NYSE: MCS) today reported results for the fourth quarter and fiscal year ended May 26, 2011. The company reported a strong fourth quarter due to increased revenues and operating income from Marcus Theatres. For the full year, Marcus Hotels and Resorts achieved significant improvement in revenues and operating income, while Marcus Theatres performed below last year's record results.
Fourth Quarter Fiscal 2011 Highlights
Total revenues for the fourth quarter of fiscal 2011 were $92,316,000, a 3.6% increase from revenues of $89,106,000 for the fourth quarter of fiscal 2010.
Operating income was $8,576,000 for the fourth quarter of fiscal 2011, an 18.8% increase from operating income of $7,217,000 for the same period in the prior year.
Net earnings were $3,483,000, or $0.12 per diluted common share, for the fourth quarter of fiscal 2011, a 15.0% increase from net earnings of $3,029,000, or $0.10 per diluted common share, for the fourth quarter of fiscal 2010.
Full Year Fiscal 2011 Highlights
Total revenues for fiscal 2011 were $377,004,000, compared to revenues of $379,069,000 for fiscal 2010.
Operating income was $33,497,000 for fiscal 2011, compared to operating income of $36,203,000 for fiscal 2010.
Net earnings were $13,558,000, or $0.46 per diluted common share, for fiscal 2011, compared to earnings of $16,115,000, or $0.54 per diluted common share for fiscal 2010.
Fiscal 2011 results were unfavorably impacted by unusual items totaling approximately $1.8 million, or $0.04 per diluted common share, related to an adverse legal judgment concerning the company's Las Vegas property and a change in an interest income estimate. The company is currently appealing the legal judgment.
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