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Carmike Cinemas 8-K 2008

Documents found in this filing:

  1. 8-K
  2. Ex-99.1
  3. Graphic
  4. Graphic
Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

September 30, 2008

 

 

Carmike Cinemas, Inc.

(Exact Name of Registrant as Specified in its Charter)

 

 

 

Delaware   000-14993   58-1469127

(State or Other Jurisdiction

of Incorporation)

  (Commission File Number)  

(IRS Employer

Identification Number)

 

1301 First Avenue, Columbus, Georgia   31901
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: (706) 576-3400

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 2.02. Results of Operations and Financial Condition.

On September 30, 2008, Carmike Cinemas, Inc. (the “Company”) issued a press release (the “Press Release”) announcing it has made a voluntary $10 million pre-payment to reduce its bank debt. The Press Release contains information about the Company’s financial condition at September 30, 2008. A copy of the Press Release is furnished as Exhibit 99.1 and is incorporated by reference herein in its entirety.

 

Item 8.01. Other Events.

In addition, the Company has announced that its board of directors has suspended the Company’s quarterly dividend.

Disclosure Regarding Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words, “believes,” “expects,” “anticipates,” “plans,” “estimates” or similar expressions. Examples of forward-looking statements in this Form 8-K include the Company’s expectations regarding digital cinema opportunities, box office performance and the Company’s strategies, operating performance improvement plan, sources of liquidity, leverage reduction, the availability of film product, capital expenditures, digital cinema implementation and the opening and closing of theatres. Forward-looking statements are only predictions and are not guarantees of performance. These statements are based on beliefs and assumptions of management, which in turn are based on currently available information. The forward-looking statements also involve risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Many of these factors are beyond the Company’s ability to control or predict. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include, but are not limited to:

 

 

general economic conditions in the Company’s regional and national markets;

 

 

the Company’s ability to comply with covenants contained in its senior secured credit agreement;

 

 

the Company’s ability to operate at expected levels of cash flow;

 

 

financial market conditions including, but not limited to, changes in interest rates and the availability and cost of capital;

 

 

the Company’s ability to meet its contractual obligations, including all outstanding financing commitments;

 

 

the availability of suitable motion pictures for exhibition in the Company’s markets;

 

 

competition in the Company’s markets;

 

 

competition with other forms of entertainment;

 

 

identified weaknesses in internal control over financial reporting;

 

 

the effect of the Company’s leverage on its financial condition;

 

 

prices and availability of operating supplies;

 

 

the impact of continued cost control procedures on operating results;

 

 

the impact of asset impairments;

 

 

the impact of terrorist acts;

 

 

changes in tax laws, regulations and rates;

 

 

financial, legal, tax, regulatory, legislative or accounting changes or actions that may affect the overall performance of the Company’s business; and

 

 

other factors, including the risk factors disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2007, under the caption “Risk Factors”.

The Company believes these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update publicly any of these in light of new information or future events.


Item 9.01. Financial Statements and Exhibits.

 

  (d) Exhibits.

 

Exhibit 99.1   Press release, dated September 30, 2008.


Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    CARMIKE CINEMAS, INC.
Date: September 30, 2008   By:  

/s/ Richard B. Hare

    Richard B. Hare
    Senior Vice President—Finance, Treasurer and Chief Financial Officer


EXHIBIT INDEX

 

Exhibit
Number

  

Description

Exhibit 99.1

   Press release, dated September 30, 2008.
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