Business Services Industry
Milwaukee Hotel, Theater Company Posts Fourth-Quarter Profit.
Knight Ridder/Tribune Business News, July, 2001
By Rick Romell, Milwaukee Journal Sentinel Knight Ridder/Tribune Business News
Jul. 27--A gain from the sale of its KFC restaurants turned a $2.16 million loss into a fiscal fourth-quarter profit for the Marcus Corp.
The Milwaukee lodging and theater company reported net income of $5.89 million, or 20 cents a share, in three months ended May 31, doubling last year's profit of $2.98 million or 10 cents. This year's results include $7.82 million the company netted by selling its 30 KFC outlets to a former executive.
Marcus shares dropped by a penny Thursday to close at $13.98.
Revenue rose 11 percent to $96.3 million from $86.7 million. But revenue growth was slowed by higher costs, including a $3.5 million "impairment loss" to...
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