Marcus Corp. Turns To Profit In Q3 - Quick Facts

(RTTNews) - Marcus Corp. (MCS) said that net earnings attributable to the company for the third quarter of fiscal 2014 were $4.07 million, compared to a net loss of $1.37 million in the third quarter of fiscal 2013. Net earnings per share were $0.15, compared to a net loss per share of $0.05 last year.

Net earnings attributable to the company for the latest-quarter benefited from an allocation of a $3,798,000 pre-tax loss attributable to noncontrolling interests related primarily to a recent settlement with the company's partners in the Skirvin Hilton hotel. The settlement resulted in a reallocation between partners of the income from the extinguishment of debt at the Skirvin Hilton, contributing to an increase in net earnings attributable to The Marcus Corporation of $0.08 per diluted common share.

The prior year quarter results were unfavorably impacted by unusual items totaling about $2.0 million, or $0.04 per diluted common share, consisting of about $1.4 million of costs related to the settlement of lawsuits concerning the company's Las Vegas property and a $618,000 impairment charge in the theatre division.

Total revenues for the quarter were $109.85 million, a 17.3% increase from last year's $93.67 million.

On average, 2 analysts polled by Thomson Reuters expected the company to report earnings of $0.01 per share on revenues of $99.70 million for the quarter. Analysts' estimates typically exclude special items.