The Marcus Corporation (MCS) has reported a 73.39 percent jump in profit for the quarter ended Mar. 30, 2017. The company has earned $9.45 million, or $0.33 a share in the quarter, compared with $5.45 million, or $0.20 a share for the same period last year. Revenue during the quarter grew 25.92 percent to $157.95 million from $125.44 million in the previous year period. Gross margin for the quarter contracted 13 basis points over the previous year period to 43.99 percent. Total expenses were 88.59 percent of quarterly revenues, down from 90.96 percent for the same period last year. This has led to an improvement of 237 basis points in operating margin to 11.41 percent.
Operating income for the quarter was $18.02 million, compared with $11.35 million in the previous year period.
“Fiscal 2017 is off to an excellent start, with revenues that were higher than any quarter in our history. Marcus Theatres drove our strong first quarter performance, setting new all-time records for both revenues and operating income and continuing to outperform the industry. Marcus Hotels & Resorts achieved increased revenues and also outperformed the industry during its traditionally slower winter season,” said Gregory S. Marcus, president and chief executive officer of The Marcus Corporation.
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