The Marcus Corp. today reported fiscal fourth quarter net earnings of $4.0 million, or 14 cents per share, down from $5.5 million, or 18 cents per share, in the same period a year ago.
The Milwaukee-based company's total revenues for the quarter dropped to $89.5 million from $92.2 million.
The company said its fourth quarter numbers of 2007 benefited from having an additional week. The company also said its 2007 slate of movies were stronger than its 2008 lineup in the quarter.
For the full fiscal year, total revenues were $371.1 million, up 13.3 percent from $327.6 million in the prior year.
Marcus Hotels and Resorts reported a 10.9-percent increase in revenues and a 36.5-percent increase in operating income for the year, driven by the addition of new properties and increased revenues from management contracts.
"We are pleased to report double-digit increases in revenues and operating income over the prior year. This is especially significant in view of the fact that this was a 52-week fiscal year, compared to last year's 53 weeks. New properties in both divisions were the major contributors to the improved performance," said Stephen Marcus, chairman and chief executive officer of The Marcus Corp.
Weaker movie lineup stings Marcus Corp.'s earnings
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