Milwaukee-based The Marcus Corp. today reported third quarter net income of $2.8 million, or 11 cents per share, compared with net income of $273,000, or 15 cents per share, in the third quarter of 2014.
Net earnings attributable to The Marcus Corp. were down 24 percent in the third quarter of 2015. The decrease resulted from a $3.8 million pre-tax loss attributable to non-controlling interests, related to a settlement with the company’s partners in the Skirvin Hilton hotel, that was recorded in the third quarter of 2014.
Operating income in the third quarter of 2015 was $7.3 million, up from $5.7 million in the same period a year ago.
Marcus reported total revenues of $120.2 million in the third quarter, up 9.4 percent from $110 million in the third quarter of 2014.
“We are pleased to report record revenues and another strong third quarter, driven by record results for Marcus Theatres,” said Gregory Marcus, president and chief executive officer of the company. “The division significantly outperformed the industry for the fifth consecutive quarter. Marcus Hotels & Resorts also reported record third quarter revenues, although operating income was reduced by the temporary impact of construction for the conversion of our downtown Chicago hotel into one of the first AC Hotels by Marriott in the U.S.”
