Focus on Entertainment Stocks
Spotlight on AMC Entertainment Inc.: The company’s profit fell 67% for the first quarter compared to year-ago figures, although revenue was up 40.8%. Says analyst Matthew J. Harrigan of Bear Stearns & Co.: “They try hard to present a friendly face and make moviegoing a true family experience. They have more screens per theater than any other exhibitor, which enables them to meet the tastes of both Bette Midler and Steven Seagal fans and allows better cross-marketing of films.”
Major Properties
* Theaters: 243 with 1,631 screens in 22 states
* Innovations: AMC Training Academy, a six-week program for training college and business school graduates
* Marketing: Domestic attendance averaged 100 million people last year
Financial Data
* Cash: $50.1 million
* Long-term debt: $200.6 million
* 1993 revenue: $404.5 million
* 1993 profit: $1.3 million
* Earnings per share: $0.06
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