Boxoffice-January.2000

EXHIBITION
BRIEFINGS
LEAD STORY: CINEMARK'S
THIRD QUARTER RESULTS
Piano, Tex. -based movie theatre circuit
Cinemark USA has reported that while its
third-quarter revenue increased by 28 percent
to $210.6 million, compared to $164.6
million earned during the same period a
year ago, the company's net income
decreased by 12 percent during the three
months, falling from last
year's $9.5 million
to $8.3 million. Earnings before interest,
taxes, depreciation and amortization for the
chain, however, grew by 29 percent from
last year's $36.1 million to this year's record
$46.6 million. Cinemark took a $2.5 million
pre-tax charge resulting from closure and
writeoffs of non-performing assets.
CHANGES AT AMC AFFECT
SECOND QUARTER RESULTS
Kansas City-based exhibitor AMC
Entertainment, which recently consolidated
three of its regional offices into its corporate
headquarters (see Exhibition Briefings,
December 1999), has released the financial
results for its second quarter. Due to the closure
of its divisional branches, AMC's general
and administrative expenses fell to $12.3
million compared to year-ago figures of
$14.1 million. The circuit also reports net
earnings of $7 million, or 30 cents per share,
for the three-month period, falling slightly
from second quarter 1998 net earnings of
$7.9 million, or 34 cents per share. This
year's figure excludes a $12 million charge
related to the closure of regional operations.
AMC's revenue rose by 15 percent during
the period, growing from $290 million a
year ago to $334 million.
CINEMASTAR POWER
CinemaStar Luxury Theatres has
announced its financial results for the quarter
ending September 30, 1999. The San
Diego, Calif.-based chain reports that revenues
for the three-month period totaled
$8.2 million, falling slightly from last year's
$8.3 million. Total costs and expenses
accrued by the circuit equaled nearly $8.1
million, compared to year-ago figures of $8
million, while theatre cash flow during the
quarter came to $1.5 million, or 18.6 percent
of revenues, compared to $1 .7 million,
or 21 percent of revenues, for the same period
of the prior year.
MEXICO SELLS CINEMAS
According to local sources, the federal
government of Mexico is planning to auction
34 older cinemas located within the
country. Although leading Mexican
exhibitors, including Cinemex and Organizacion
Ramirez, have expressed interest in
purchasing the sites,
observers believe that
the outdated venues are virtually worthless,
with the exception of each theatre's real
estate value. Missing such features as digital
NATO REGIONAL NEWS
Starting this month, BOXOFFICE is incorporating a former section of the
known to longtime subscribers as Regional News, into an expanded Exhibition
column. BOXOFFICE invites all regional NATO offices to contribute any news item: the}
wish to have included in upcoming issues.
NATO OF ARKANSAS FORMED;
SOUTH CENTRAL STATES NATO NOW COMPLETE
Through a recently concluded balloting by mail, the exhibitors of Arkansas elected its
Board of Directors for 1999-2000. The following exhibitors were elected as directors:
Carol Allred, Paris Cinema, Paris; Eugene Boggs, Searcy Cinema, Searcy; Don Burchett,
Malco Theatres, Ft. Smith; Randy Hester, Cinemark USA, Piano, Tex.; Dean Lincoln,
Market St. Cinema, Little Rock; Jack Lowery, Picwood Cinemas, Russellville; Mark Reis,
Regal Cinemas, Knoxville, Tenn.; Paul Stinson, UA Theatres, Dallas, Tex.; and Ada
Williams, Rialto Theatre, El Dorado.
The board held its first meeting at the UA Cinema 150 in Little Rock on Tuesday, Oct.
12. After certifying the ballots, the board elected the following officers: Dean Lincoln,
President; Don Burchett, Vice President; Eugene Boggs, Treasurer; and Carol Allred,
Secretary. The board also voted to join South Central States NATO, which will be administering
the affairs of the association, as it now does for Louisiana, Oklahoma and Texas.
After obtaining and reviewing the consitution
and by-laws of the previous NATO of
be made
Arkansas, which disbanded some years ago, application for re-certification will
to National NATO.
The addition of Arkansas completes the organizational effort in this region initiated by
National NATO and NATO of Texas. Contributed by Rein Rabakukk, executive director,
NATO of Arkansas
MID-ATLANTIC NATO SCHOLARSHIPS
Just a reminder that the applications for Mid-Atlantic NATO's 2000 Scholarship Program
will go out in early January 2000. Employees of our member theatres are eligible to participate,
and both high school seniors and college employees are able to apply for the
$17,000 in scholarships, which will be given out in May 2000. Be sure that managers and
employees are cognizant of this very popular Mid-Atlantic NATO program. Contributed
by Jerome Gordon, executive director, Mid-Atlantic NATO
Send news clips to:
BOXOFFICE Magazine
155 S. El Molino Ave., Suite
Pasadena, CA 91101
Attn: Regional News
sound and modern seating, the cinemas lack
the qualities that have increased movie
attendance in the country significantly during
the past five years. Exhibitors have noted
that if they acquire the sites, they plan to
build new theatres from scratch on top of the
old properties.
SHOWEST WATCH
Sony Pictures distribution president Jeff
Blake has announced that the studio will
host the March 8 luncheon at this year's
ShoWest convention. Sony took a hiatus last
year from the NATO and NATO of
California/Nevada-sponsored event after
at appearing both the 1997 and 1998 conventions.
ShoWest general chairman Milton
Moritz says that the convention coordinators
are "enormously gratified to welcome back
Sony, which has consistently been one of the
top suppliers of successful, high-quality
entertainment to exhibitors all over the
world."
OBITUARY
Native San Franciscan and retired film
industry executive Charles F. "Mike" Powers
Jr. died September 1 9 at the age of 76 after a
hard-fought battle with cancer. Powers
began his long film career at the age of 13,
ushering at San Francisco's Alexandria
Theatre. Powers went on to work for 20th
Century Fox Film Corp., interrupting his
career during World War II to enlist in the
Navy. Afterwards, he joined Producers
00
Releasing Corp. in Portland. Powers' illustrious
career included a return to Fox, followed
by distinguished service with
Cinerama Releasing Corp., Affiliated
Theaters, American International Pictures,
Norman Lear's Filmways, Embassy Pictures
and Mike Powers Enterprises.
Active for many years in both San
Francisco's Round Table and Variety Club,
Powers was also an avid golfer and traveler.
He is survived by Dorothy, his wife of 55
years, their five children and 13 grandchildren,
as well as his stepmother, brother and
SHOWMINDER CALENDAR
Remember to save these dates:
ShoWest, March 6—9, Bally's
Hotel/Paris, Las Vegas. Call (310) 657-
7724... 7th International Urban
Entertainment Development Conference
March 13—14, 2000, New York City. Call
(202) 624-7140 ...NAC/Snack Bar
University, May 2—5, 2000, Washington
DC. Call (312) 236-3858 ...Large Format
Cinema Association 2000 Conference and
Large Format Film Festival, May 17-20,
Los Angeles. Call (209) 951-8113.
...ShowCanada, May 5—10, 2000, Chateau
Whistler, Whistler, British Columbia. Call
Dina Lebo at (416) 969-7057...Cinema
Expo, June 26—29, 2000, RAI, Amsterdam.
(all (212) 246-6460...ShowEast, Oct. 11 —
14, 2000, Mariott Worldwide, Orlando, Fla.
Call (212) 246-6460.
.lanuan, 2000 53