The Marcus Corporation announced the retirement of Bruce J. Olson, president of Marcus Theatres(R) and senior vice president of The Marcus Corporation, effective September 2013. Olson will remain with the company through the first quarter of the company's fiscal year and for a period beyond to ensure a successful transition. Olson will continue to serve on the company's Board of Directors.

The Marcus Corporation announced unaudited consolidated earnings results for the third quarter and nine ended February 28, 2013. For the quarter, the company reported total revenues of $93,674,000 against $92,077,000 a year ago. Operating loss was $224,000 against operating income of $4,075,000 a year ago. Earnings before income taxes were $2,968,000 against $926,000 a year ago. Net earnings were $4,278,000 against $734,000 a year ago. Net loss attributable to company was $1,372,000 against net earnings attributable to the company of $734,000 a year ago. Net loss per diluted common share attributable to company was $0.05 against net earnings per diluted common share attributable to company of $0.03 for the same period a year ago. For the nine months, the company reported total revenues of $312,246,000 against $306,053,000 a year ago. Operating income was $29,948,000 against $33,684,000 a year ago. Earnings before income taxes were $28,795,000 against $25,837,000 a year ago. Net earnings were $19,744,000 against $16,035,000 a year ago. Net earnings attributable to company were $14,031,000 against $16,035,000 a year ago. Net earnings per diluted common share attributable to company were $0.50 against $0.55 for the same period a year ago. Results for the first three quarters of fiscal 2013 were unfavorably impacted by unusual items totaling approximately $4.0 million, or $0.09 per diluted common share, consisting of $3.0 million of costs related to the settlement of lawsuits concerning the company’s Las Vegas property and $1.0 million of impairment charges in the theatre division. Total capital expenditures were approximately $15 million compared to $31 million last year. The company announced that impairment charge of $618,000 for the third quarter ended December 31, 2012. For the fiscal 2013, the company expects capital expenditures may end up in the $25 million to $35 million range, again excluding the approximately $30 million non-cash Cornhusker transaction.

The Marcus Corporation, Q3 2013 Earnings Call, Mar 21, 2013