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Carmike Cinemas Beats on Both Top and Bottom Lines

Friday - 3/15/2013, 3:45pm  ET

Carmike Cinemas reported earnings on March 14. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Carmike Cinemas beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share expanded significantly.

Margins grew across the board.

Revenue details
Carmike Cinemas notched revenue of $146.6 million. The eight analysts polled by S&P Capital IQ expected to see revenue of $142.2 million on the same basis. GAAP reported sales were 22% higher than the prior-year quarter's $120.1 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.47. The eight earnings estimates compiled by S&P Capital IQ anticipated $0.26 per share. Non-GAAP EPS of $0.47 for Q4 were 57% higher than the prior-year quarter's $0.30 per share. GAAP EPS of $5.19 for Q4 were much higher than the prior-year quarter's $0.13 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 24.3%, 400 basis points better than the prior-year quarter. Operating margin was 12.0%, 310 basis points better than the prior-year quarter. Net margin was 62.5%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $138.3 million. On the bottom line, the average EPS estimate is $0.14.

Next year's average estimate for revenue is $615.8 million. The average EPS estimate is $1.14.

Investor sentiment
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 53 members out of 99 rating the stock outperform, and 46 members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 16 give Carmike Cinemas a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Carmike Cinemas is outperform, with an average price target of $21.21.

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This article was originally published as Carmike Cinemas Beats on Both Top and Bottom Lineson Fool.com

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