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Carmike Cinemas Inc (CKEC) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Carmike Cinemas Inc

CIK: 799088 Ticker: CKEC


Exhibit 99.1
 
 
Webcast/Conference Call TODAY, Monday, February 29 at 5:00 p.m. ET
 
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CARMIKE CINEMAS Reports All Time Records in Revenue, Operating Income, Theatre
Level Cash Flow and Adjusted EBITDA

COLUMBUS, Georgia – February 29, 2016 - Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema, alternative programming and 3-D motion picture exhibitor, today reported results for the three and twelve month periods ended December 31, 2015, as summarized below.
SUMMARY FINANCIAL DATA
(unaudited)
 
 
Three Months Ended December 31,
 
Twelve Months Ended December 31,
(in millions)
 
2015
 
2014
 
2015
 
2014
Total operating revenues
 
$
220.7
 
 
$
185.4
 
 
$
804.4
 
 
$
689.9
 
Operating income
 
23.7
 
 
11.8
 
 
65.4
 
 
41.0
 
Interest expense
 
12.3
 
 
12.7
 
 
50.0
 
 
51.7
 
Theatre level cash flow (1)
 
52.0
 
 
34.5
 
 
160.1
 
 
124.3
 
Net income (loss)
 
6.9
 
 
(2.2)
 
 
(0.4)
 
 
(8.9)
 
Adjusted net income (loss)  (1)
 
10.3
 
 
(0.8)
 
 
17.5
 
 
(2.6)
 
Adjusted EBITDA (1)
 
44.7
 
 
27.7
 
 
135.1
 
 
101.3
 

(in millions)
 
Dec. 31, 2015
 
 
Dec. 31, 2014
Total debt(1)
 
$
454.7
 
 
 
$
445.1
 
Net debt(1)
 
$
352.2
 
 
 
$
347.5
 

(1)
Theatre level cash flow, adjusted net income (loss), adjusted EBITDA, total debt and net debt are supplemental non-GAAP financial measures. Reconciliations of theatre level cash flow, adjusted EBITDA and adjusted net income (loss) to net income (loss) for the three and twelve months ended December 31, 2015 and 2014, as well as a schedule of total debt and net debt as of December 31, 2015 and December 31, 2014, are included in the supplementary tables accompanying this news announcement.

“Carmike’s record fourth quarter and 2015 full year financial results reflect the ongoing success of our theatre-level initiatives, the progress we are achieving with our value-building theatre acquisition and organic growth strategies and the overall strength of the U.S. box office. Our admissions revenue growth per screen of over 15% in the 2015 fourth quarter and 9% for the full year, outpaced the industry by almost 500 and 200 basis points, respectively. We achieved record results across several key financial metrics, including a 19% rise in operating revenues to an all-time quarterly record, as well as a rise in operating income of over 100%, which drove increases in adjusted EBITDA and theatre level cash flow of approximately 61% and 51%, respectively,” stated David Passman, Carmike Cinemas’ President and Chief Executive Officer.


The following information was filed by Carmike Cinemas Inc (CKEC) on Monday, February 29, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' (deficit) Equity
Accrued Expenses
Accrued Expenses (tables)
Accrued Expenses - Summary Of Accrued Expenses (detail)
Acquisitions
Acquisitions (tables)
Acquisitions - Additional Information (detail)
Acquisitions - Summary Of Selected Unaudited Pro Forma Results Of Operations Information (detail)
Acquisitions - Summary Of The Preliminary Purchase Price (detail)
Acquisitions - Summary Of The Purchase Price And Purchase Price Allocation Based On Fair Value Of Net Assets Acquired, Digiplex (details)
Acquisitions - Summary Of The Purchase Price And Purchase Price Allocation Based On Fair Value Of Net Assets Acquired, Muvico (details)
Acquisitions - Summary Of The Purchase Price And Purchase Price Allocation Based On Fair Value Of Net Assets Acquired, Sundance (details)
Benefit Plans
Benefit Plans - Additional Information (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Summary Of Future Capital Lease, Operating Lease And Financing Lease Obligation (detail)
Commitments And Contingencies - Summary Of Future Capital Lease, Operating Lease And Financing Lease Obligation (non-printing) (detail)
Debt
Debt (tables)
Debt - Additional Information (detail)
Debt - Components Of Debt (detail)
Debt - Fair Value Of Senior Secured Notes Based On Quoted Market Prices (detail)
Debt - Summary Of Future Maturities Of Long Term Debt Obligations (detail)
Discontinued Operations
Discontinued Operations (tables)
Discontinued Operations - Additional Information (detail)
Discontinued Operations - Summary Of Activity For Discontinued Operations (detail)
Goodwill And Other Intangible - Additional Information (detail)
Goodwill And Other Intangibles
Goodwill And Other Intangibles (tables)
Goodwill And Other Intangibles - Schedule Of Changes In The Carrying Amount Of Goodwill (detail)
Goodwill And Other Intangibles - Summary Of Goodwill And Other Intangible Assets Acquired (detail)
Impairment Of Property And Equipment
Impairment Of Property And Equipment (tables)
Impairment Of Property And Equipment - Additional Information (detail)
Impairment Of Property And Equipment - Summary Of Impairment Of Property And Equipment (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Balance Sheet Presentation Of The Company's Deferred Income Taxes (detail)
Income Taxes - Components Of The Company's Deferred Tax Assets (liabilities) (detail)
Income Taxes - Income Tax Expense (benefit) From Continuing Operations (detail)
Income Taxes - Reconciliation Of The Beginning And Ending Uncertain Tax Positions (detail)
Income Taxes - Schedule Of Income Tax Reconciliation (detail)
Investment In Unconsolidated Affiliates
Investment In Unconsolidated Affiliates (tables)
Investment In Unconsolidated Affiliates Investments In Unconsolidated Affiliates - Combined Financial Information Of Unconsolidated Affiliated Companies (details)
Investment In Unconsolidated Affiliates Investments In Unconsolidated Affiliates - Summary Of Activity In Income From Unconsolidated Affiliates (details)
Lease Termination Charges
Lease Termination Charges - Additional Information (detail)
Litigation
Net (loss) Income Per Share
Net (loss) Income Per Share (tables)
Net (loss) Income Per Share - Additional Information (detail)
Net (loss) Income Per Share - Summary Of Basic Net (loss) Income Per Common Share (detail)
Organization, Nature Of Business And Basis Of Presentation
Organization, Nature Of Business And Basis Of Presentation - Additional Information (detail)
Other Assets
Other Assets (tables)
Other Assets - Summary Of Other Assets (detail)
Other Liabilities
Other Liabilities (details)
Other Liabilities (tables)
Prepaid Expenses And Other Current Assets
Prepaid Expenses And Other Current Assets (details)
Prepaid Expenses And Other Current Assets (tables)
Quarterly Results (unaudited)
Quarterly Results (unaudited) (tables)
Quarterly Results (unaudited) - Schedule Of Quarterly Income Statement Including Basic And Diluted Earning Per Share (detail)
Quarterly Results (unaudited) - Schedule Of Quarterly Income Statement Including Basic And Diluted Earning Per Share (footnotes) (detail)
Screenvision Transaction
Screenvision Transaction (tables)
Screenvision Transaction - Additional Information (detail)
Screenvision Transaction - Summary Of Changes In Investments In Unconsolidated Affiliates And Deferred Revenue (detail)
Significant Accounting Policies
Significant Accounting Policies (tables)
Significant Accounting Policies - Additional Information (detail)
Significant Accounting Policies - Schedule Of Useful Life Of Plant And Property (detail)
Significant Accounting Policies Policies (policies)
Stockholders' Equity And Share-based Compensation
Stockholders' Equity And Share-based Compensation (tables)
Stockholders' Equity And Share-based Compensation - Additional Information (detail)
Stockholders' Equity And Share-based Compensation - Summary Of Activity For Restricted Stock Grants (detail)
Stockholders' Equity And Share-based Compensation - Summary Of Option Activity For Stock Options (detail)
Stockholders' Equity And Share-based Compensation - Summary Of Option Activity For Stock Options With Market Condition Vesting (detail)
Stockholders' Equity And Share-based Compensation Stockholders' Equity And Share-based Compensation - Summary Of Share Repurchase (detail) (details)
Subsequent Events
Subsequent Events (details)
Ticker: CKEC
CIK: 799088
Form Type: 10-K Annual Report
Accession Number: 0001628280-16-011964
Submitted to the SEC: Mon Feb 29 2016 4:28:53 PM EST
Accepted by the SEC: Mon Feb 29 2016
Period: Thursday, December 31, 2015
Industry: Motion Picture Theaters

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