Bolstered by a strong cast of fall movies, The Marcus Corp. today reported fiscal second quarter net earnings of $4.7 million, or 17 cents per share, up from $2.8 million, or 10 cents per share, in the same period a year ago.
The Milwaukee-based company’s quarterly total revenues grew 11.7 percent to $100.6 million from $90.1 million a year earlier.
“Our record second quarter revenues and significantly increased earnings were due primarily to a strong film slate for Marcus Theatres. While revenues for Marcus Hotels & Resorts increased for the quarter, operating income was impacted by the recent settlement of some of the ongoing litigation related to the Platinum Hotel & Spa in Las Vegas, Nev. Excluding the settlement, operating income for Marcus Hotels would have been up nearly 10 percent in the second quarter,” said Gregory Marcus, president and chief executive officer of The Marcus Corp. “Marcus Theatres achieved a 21.7 percent increase in revenues and an 87.9 percent increase in operating income in the second quarter. This record performance illustrates the impact a steady line-up of good films can have on our results.”
