Buoyed by a record performance from its Marcus Theatres division, Milwaukee-based Marcus Corp. reported fiscal first quarter net earnings of $12.5 million, or 42 cents per share, up 24.5 percent from net earnings of $10.0 million, or 34 cents per share, in the same period a year ago.
The company’s total revenues for the grew 8.7 percent to $123.9 million from $114.0 million a year earlier.
“Our fiscal year is off to a strong start, with a record quarter for Marcus Theatres and the continued improvement of Marcus Hotels & Resorts. Both divisions made solid contributions to the 24.5-percent increase in net earnings, as well as to our increased revenues and operating income,” said Gregory Marcus, president and chief executive officer of The Marcus Corp. “A strong slate of films during the busy summer season generated an 8.0% increase in revenues and a 16.1-percent increase in operating income for Marcus Theatres, setting new first quarter records for the division.”
