<PAGE>
EXHIBIT 99
Loews Cineplex Entertainment Corporation
Summary of Operating Results Table I
Second Quarter Ended August 31, 2000 v. 1999
(in thousands, except shares outstanding and per share data)
EQUITY BASIS
<TABLE>
<CAPTION>
3 Months Ended August 31, 6 Months Ended August 31,
2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
REVENUES
Box Office $182,137 $213,001 $325,683 $354,374
Concession 71,416 80,315 125,841 133,500
Other 11,465 9,976 18,764 17,202
------------- ------------- ------------- -------------
265,018 303,292 470,288 505,076
EXPENSES
Theatre operations and other expenses 201,286 209,512 363,671 370,632
Cost of concessions 11,548 12,774 20,187 20,379
General and administrative 13,865 14,274 26,499 26,409
------------- ------------- ------------- -------------
Modified EBITDA (a) 38,319 66,732 59,931 87,656
Depreciation and amortization 30,683 27,728 61,269 53,807
Loss on sale/disposals of theatres 38,669 4,713 38,779 4,713
------------- ------------- ------------- -------------
(LOSS)/INCOME FROM OPERATIONS (31,033) 34,291 (40,117) 29,136
INTEREST EXPENSE 23,515 17,581 45,122 33,646
------------- ------------- ------------- -------------
(LOSS)/INCOME BEFORE INCOME TAXES (54,548) 16,710 (85,239) (4,510)
INCOME TAX EXPENSE 988 847 1,770 1,506
------------- ------------- ------------- -------------
NET (LOSS)/INCOME ($55,536) $15,863 ($87,009) ($6,016)
============= ============= ============= =============
Attributable EBITDA (b) $41,083 $68,519 $65,173 $91,298
============= ============= ============= =============
Weighted Average Shares and
equivalent outstanding - Basic & Diluted 58,622,646 58,622,646 58,622,646 58,622,646
Net (Loss)/Earnings per share - Basic & Diluted ($0.95) $0.27 ($1.48) ($0.10)
Debt Balance, net of cash at 8/31/00 $970,977
=============
</TABLE>
NOTES:
(a) Modified EBITDA consists of earnings, including equity earnings from
investments in the Company's partnerships before interest, taxes,
depreciation and amortization, and losses on asset disposals or sales.
Modified EBITDA should not be construed as an alternative to operating
income (as determined in accordance with U.S. GAAP). In addition, the
Modified EBITDA measure presented herein may not be comparable to similarly
titled measures reported by other companies.
<TABLE>
<S> <C> <C> <C> <C>
(b) Modified EBITDA, including equity earnings $38,319 $66,732 $59,931 $87,656
Less: Equity income/(loss) / other included in
Modified EBITDA 507 2,041 155 1,987
Add: EBITDA from Partnerships 6,542 7,656 10,794 11,258
------------- ------------- ------------- -------------
Total EBITDA 44,354 72,347 70,570 96,927
Less: Partners' share of Total EBITDA 3,271 3,828 5,397 5,629
------------- ------------- ------------- -------------
Attributable EBITDA $41,083 $68,519 $65,173 $91,298
============= ============= ============= =============
</TABLE>
<PAGE>
Loews Cineplex Entertainment Corporation
Summary of Operating Results Table II
Second Quarter Ended August 31, 2000 v. 1999 Page 1 of 2
(in thousands, except shares outstanding and per share data)
FULLY COMBINED BASIS
<TABLE>
<CAPTION>
3 Months Ended August 31, 6 Months Ended August 31,
2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
REVENUES
Box Office $207,193 $238,313 $368,014 $396,563
Concession 82,218 91,000 143,597 150,992
Other 11,814 8,829 20,447 16,726
------------- ------------- ------------- -------------
301,225 338,142 532,058 564,281
EXPENSES
Theatre operations and other expenses 228,359 235,807 409,399 415,199
Cost of concessions 13,345 14,509 23,265 23,277
General and administrative 15,167 15,479 28,824 28,878
------------- ------------- ------------- -------------
Total EBITDA (a) 44,354 72,347 70,570 96,927
Depreciation and amortization 33,804 29,875 67,053 57,747
Loss on sale/disposals of theatres 39,107 4,713 39,217 4,713
------------- ------------- ------------- -------------
(LOSS)/INCOME FROM OPERATIONS (28,557) 37,759 (35,700) 34,467
PARTNERS' SHARE 613 2,142 1,079 2,524
INTEREST EXPENSE 25,335 18,814 48,341 35,787
------------- ------------- ------------- -------------
(LOSS)/INCOME BEFORE INCOME TAXES (54,505) 16,803 (85,120) (3,844)
INCOME TAX EXPENSE 1,031 940 1,889 2,172
------------- ------------- ------------- -------------
NET (LOSS)/INCOME ($55,536) $15,863 ($87,009) ($6,016)
============= ============= ============= =============
Attributable EBITDA (b) $41,083 $68,519 $65,173 $91,298
============= ============= ============= =============
Level of Attributable Debt, net of cash at 8/31/00 $999,477
=============
</TABLE>
<TABLE>
<CAPTION>
Operating Statistics:
--------------------
<S> <C> <C> <C> <C>
Total Attendance 37,015 43,879 65,938 73,733
Revenues per location (c) $782.40 $822.73 $1,385.57 $1,359.71
Revenues per screen (c) $101.56 $116.92 $181.28 $196.27
Total EBITDA per location (c) $115.21 $176.03 $183.78 $233.56
Total EBITDA per screen (c) $14.95 $25.02 $24.04 $33.71
Attendance per location (c) 96.14 106.76 171.71 177.67
Attendance per screen (c) 12.48 15.17 22.47 25.65
Average ticket price - Total Circuit $5.60 $5.43 $5.58 $5.38
Average ticket price - U.S. $6.21 $6.11 $6.24 $6.08
Average ticket price - Canada $3.83 $3.69 $3.77 $3.67
Average ticket price - International $3.49 $3.58 $3.53 $3.71
Concession revenue per patron - Total Circuit $2.22 $2.07 $2.18 $2.05
Concession revenue per patron - U.S. $2.44 $2.28 $2.41 $2.27
Concession revenue per patron - Canada $1.63 $1.58 $1.61 $1.57
Concession revenue per patron - International $1.23 $1.12 $1.18 $1.09
Concession margin 83.77% 84.06% 83.80% 84.58%
Operating margin 14.72% 21.40% 13.26% 17.18%
Profit per patron $1.20 $1.65 $1.07 $1.31
</TABLE>
<PAGE>
Loews Cineplex Entertainment Corporation
Summary of Operating Results Table II
Quarter Ended August 31, 2000 v. August 31, 1999 Page 2 of 2
NOTES:
(a) Total EBITDA consists of EBITDA plus loss on sale/disposals of theatres and
includes 100% of the operating results of the Company's partnerships. Total
EBITDA should not be construed as an alternative to operating income (as
determined in accordance with U.S. GAAP), as a measure of the Company's
operating performance, or as an alternative to cash flows from operating
activities (as determined in accordance with U.S. GAAP), as a measure of
the Company's liquidity. In addition, the Total EBITDA measure presented
herein may not be comparable to similarly titled measures reported by other
companies. Total EBITDA measures the amount of cash that a company has
available for investment or other uses and is used by the Company as a
measure of its performance. The Company believes that Total EBITDA is an
important measure, in addition to cash flow from operations and EBITDA, in
viewing its overall liquidity and borrowing capacity.
(b) Attributable EBITDA consists of Total EBITDA less partners' share of Total
EBITDA.
(c) All per screen and location ratios are based upon the weighted average
number of screens and locations in operation during the period and include
100% of the results of the significant partnerships in which the Company
has a 50% interest.
