Marcus loses money in 3Q, film slate weaker
MILWAUKEE (AP) — Hotel and movie theater operator Marcus lost money in its fiscal third quarter, stung by one-time costs for a lawsuit settlement and a weaker batch of films than a year ago.
For the quarter that ended Feb. 28, Marcus Corp. lost $1.4 million, or 5 cents per share. That compares with a profit of $734,000, or 3 cents per share a year earlier.
Taking out 4 cents per share related to lawsuit settlement costs and an impairment charge, it lost 1 cent per share.
Marcus said Thursday that its film lineup during the quarter — which included the busy holiday season — was not as deep as last year's holiday slate. The current quarter's top films included "The Hobbit: An Unexpected Journey," ''Les Misérables," ''Lincoln" and "Django Unchained."
The movie theater unit, Marcus Theatres, currently owns or manages 687 screens at 55 locations in Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio.
Quarterly revenue climbed 2 percent to $93.7 million from $92.1 million.
In the company's hotels and resorts division, revenue per available room for comparable hotels climbed 10.7 percent mostly because of increased occupancy during the traditionally weak season. This figure is a key indicator of a lodging operator's performance.
Marcus Hotels & Resorts owns or manages 20 hotels, resorts and other properties in 11 states.
Shares of Marcus, based in Milwaukee, added 10 cents to $12.13 in morning trading.