Milwaukee-based Marcus Corp. today reported fiscal second quarter net earnings of $3.2 million, or 12 cents per share, down from $4.7 million, or 17 cents per share, in the same period a year ago.
Net earnings were impacted by a pre-tax loss of approximately $750,000, or approximately 2 cents per share, resulting from the sale of the company’s minority ownership interest in a hotel joint venture.
The lodging and theater operator’s total revenues for the second quarter were flat at $100.6 million.
“Marcus Hotels & Resorts continued its steady improvement, reporting record revenues and operating income for the second quarter. Although Marcus Theatres achieved the second-highest revenues in any second quarter in its history, we had a difficult comparison against last year’s record second quarter performance,” said Gregory Marcus, president and chief executive officer of the company. “Year to date, our overall results are still up nicely, with a 5.1 percent increase in revenues, a 9.9 percent increase in operating income and a 14.8 percent increase in earnings per share.”