10-Q/A 1 g65458a1e10-qa.txt CARMIKE CINEMAS, INC. 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q/A (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended SEPTEMBER 30, 2000 ------------------ OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to -------- --------- Commission file number 0-11604 ------- CARMIKE CINEMAS, INC. Debtor-In-Possession (Exact name of registrant as specified in its charter) DELAWARE 58-1469127 (State or other jurisdiction of (I.R.S. Employer Identification No.) incorporation or organization) 1301 FIRST AVENUE, COLUMBUS, GEORGIA 31901-2109 (Address of Principal Executive Offices) (Zip Code) (706) 576-3400 (Registrant's telephone number, including area code) Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [ ] No [X] Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Class A Common Stock, $.03 par value -- 10,018,287 shares outstanding as of November 1, 2000 Class B Common Stock, $.03 par value -- 1,370,700 shares outstanding as of November 1, 2000 The Registrant hereby amends Item 2, page 19, and includes Exhibit 27.2 referenced in Item 6 contained in the Registrant's Report on Form 10-Q for the quarterly period ending September 30, 2000. 2 COMPARISON OF THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 2000 AND SEPTEMBER 30, 1999 RESULTS OF OPERATIONS Total revenues for the quarter ended September 30, 2000 decreased 11.7% to $127.9 million from $144.8 million for the quarter ended September 30, 1999. This decrease consists of a $14.6 million decrease in admissions and a $2.3 million decrease in concessions and other. For the quarter ended September 30, 2000, the Company's average admission price was $4.69, its average concession sale per patron was $1.98 and the attendance per average screen was 6,866. For the quarter ended September 30, 1999, the Company's average admission price was $4.69, its average concession sale per patron was $1.89 and the attendance per average screen was 7,936. The decrease in attendance, partially offset by per patron increases in admissions and concessions, resulted in a decrease of revenue per average screen of 13.4% to $32,200 from $37,191 for the quarter ended September 30, 1999. Costs of operations (film exhibition costs, concession costs and other theatre operating costs) increased 1% from $108.9 million for the quarter ended September 30, 1999 to $109.9 million for the quarter ended September 30, 2000. Film exhibition costs increased to $52.1 million from $50.9 million for the quarter ended September 30, 2000 due to higher film rental charges relating to the Company's filing for reorganization which was partially offset by decreased admissions and concessions associated with decreased attendance. Concessions costs decreased to $5.9 million from $6.0 million for the quarters ended September 30, 2000 and September 30, 1999, respectively. Other theatre operating costs, consisting primarily of occupancy costs, salaries, supplies and utilities, were relatively flat at $51.9 million for the quarters ended September 30, 2000 and 1999. As a percentage of total revenues, cost of operations increased to 86.0% of total revenues in the quarter ended September 30, 2000 from 75.2% for the quarter ended September 30, 1999, largely due to the amount of fixed costs which do not fluctuate with changes in revenues or attendance. Total revenues for the nine months ended September 30, 2000 decreased 7.0% to $342.1 million from $367.8 million for the nine months ended September 30, 1999. This decrease consists of a $22.9 million decrease in admissions and a $2.8 million decrease in concessions and other. For the nine months ended September 30, 2000, the Company's average admission price was $4.59, its average concession sale per patron was $1.97 and the attendance per average screen was 18,696. For the nine months ended September 30, 1999, the Company's average admission price was $4.50, its average concession sale per patron was $1.81 and the attendance per average screen was 20,758. This decrease in attendance, partially offset by per patron increases in admissions and concessions, resulted in a decrease of revenue per average screen of 5.8% to $127,324 from $135,228 for the nine months ended September 30, 1999. Costs of operations for the nine months ended September 30, 2000 increased 2.4% from $292.3 million for the nine months ended September 30, 1999 to $299.2 million. Film exhibition costs decreased to $132.6 million from $135.0 million for the nine months ended September 30, 19 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. CARMIKE CINEMAS, INC. (Registrant) Date: November 17, 2000 By: /s/ Michael W. Patrick -------------------------------------- Michael W. Patrick -- President, Chief Executive Officer Date: November 17, 2000 By: /s/ Martin A. Durant -------------------------------------- Martin A. Durant Senior Vice President -- Finance Treasurer and Chief Financial Officer 26