Marcus posts 3Q profit

Special to The Freeman

March 20, 2014

MILWAUKEE – Marcus Corp. on Thursday reported a fiscal third-quart profit, the Milwaukee-based company said in a statement.

The operator of movie theaters and hotels said it had net income of $4.1 million, or 15 cents a share, compared to a loss of $1.4 million, or 5 cents a share. Revenue for the three months ended Feb. 27 increased 17 percent to $109.8 million from $93.7 million, the statement said.

According to the statement, recent results benefited from a settlement with the company’s partners in the Skirvin Hilton hotel in Oklahoma City, which added 8 cents a share to earnings.

The company also attributed its third-quarter profit to a strong lineup of movies and a smooth transition in leadership in its theater division.

“We are very pleased to report such a strong third quarter driven by record results for Marcus Theatres. The division outperformed the industry for the period. In addition to a strong slate of films this quarter, this division has undergone a smooth transition in leadership and we are making investments in new features and amenities at select locations and executing successful marketing strategies that have attracted more moviegoers to our theatres,” said Gregory S. Marcus, president and chief executive officer of The Marcus Corp.