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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 10-Q/A
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the quarterly period ended SEPTEMBER 30, 2000
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OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
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Commission file number 0-11604
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CARMIKE CINEMAS, INC.
Debtor-In-Possession
(Exact name of registrant as specified in its charter)
DELAWARE 58-1469127
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
1301 FIRST AVENUE, COLUMBUS, GEORGIA 31901-2109
(Address of Principal Executive Offices) (Zip Code)
(706) 576-3400
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant: (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [ ] No [X]
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
Class A Common Stock, $.03 par value --
10,018,287 shares outstanding as of November 1, 2000
Class B Common Stock, $.03 par value --
1,370,700 shares outstanding as of November 1, 2000
The Registrant hereby amends Item 2, page 19, and includes Exhibit 27.2
referenced in Item 6 contained in the Registrant's Report on Form 10-Q for the
quarterly period ending September 30, 2000.
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COMPARISON OF THREE MONTHS AND
NINE MONTHS ENDED
SEPTEMBER 30, 2000 AND SEPTEMBER 30, 1999
RESULTS OF OPERATIONS
Total revenues for the quarter ended September 30, 2000 decreased 11.7% to
$127.9 million from $144.8 million for the quarter ended September 30, 1999.
This decrease consists of a $14.6 million decrease in admissions and a $2.3
million decrease in concessions and other. For the quarter ended September 30,
2000, the Company's average admission price was $4.69, its average concession
sale per patron was $1.98 and the attendance per average screen was 6,866. For
the quarter ended September 30, 1999, the Company's average admission price was
$4.69, its average concession sale per patron was $1.89 and the attendance per
average screen was 7,936. The decrease in attendance, partially offset by per
patron increases in admissions and concessions, resulted in a decrease of
revenue per average screen of 13.4% to $32,200 from $37,191 for the quarter
ended September 30, 1999.
Costs of operations (film exhibition costs, concession costs and other theatre
operating costs) increased 1% from $108.9 million for the quarter ended
September 30, 1999 to $109.9 million for the quarter ended September 30, 2000.
Film exhibition costs increased to $52.1 million from $50.9 million for the
quarter ended September 30, 2000 due to higher film rental charges relating to
the Company's filing for reorganization which was partially offset by decreased
admissions and concessions associated with decreased attendance. Concessions
costs decreased to $5.9 million from $6.0 million for the quarters ended
September 30, 2000 and September 30, 1999, respectively. Other theatre operating
costs, consisting primarily of occupancy costs, salaries, supplies and
utilities, were relatively flat at $51.9 million for the quarters ended
September 30, 2000 and 1999. As a percentage of total revenues, cost of
operations increased to 86.0% of total revenues in the quarter ended September
30, 2000 from 75.2% for the quarter ended September 30, 1999, largely due to the
amount of fixed costs which do not fluctuate with changes in revenues or
attendance.
Total revenues for the nine months ended September 30, 2000 decreased 7.0% to
$342.1 million from $367.8 million for the nine months ended September 30, 1999.
This decrease consists of a $22.9 million decrease in admissions and a $2.8
million decrease in concessions and other. For the nine months ended September
30, 2000, the Company's average admission price was $4.59, its average
concession sale per patron was $1.97 and the attendance per average screen was
18,696. For the nine months ended September 30, 1999, the Company's average
admission price was $4.50, its average concession sale per patron was $1.81 and
the attendance per average screen was 20,758. This decrease in attendance,
partially offset by per patron increases in admissions and concessions, resulted
in a decrease of revenue per average screen of 5.8% to $127,324 from $135,228
for the nine months ended September 30, 1999.
Costs of operations for the nine months ended September 30, 2000 increased 2.4%
from $292.3 million for the nine months ended September 30, 1999 to $299.2
million. Film exhibition costs decreased to $132.6 million from $135.0 million
for the nine months ended September 30,
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CARMIKE CINEMAS, INC.
(Registrant)
Date: November 17, 2000 By: /s/ Michael W. Patrick
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Michael W. Patrick --
President, Chief Executive Officer
Date: November 17, 2000 By: /s/ Martin A. Durant
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Martin A. Durant
Senior Vice President -- Finance
Treasurer and Chief Financial Officer
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