Exhibit 99.1



Webcast/Conference Call TODAY, Monday, November 9 at 5:00 p.m. ET


WEBCAST LINK: www.carmikeinvestors.com (archived for 30 days)


CALL DIAL-IN: 800/918-9476 or 303/223-0118 (international callers)


CALL REPLAY: 800/633-8284 or 402/977-9140, passcode: 21779806 (through November 16) Exhibit 99.1


CARMIKE CINEMAS REPORTS 11% RISE IN OPERATING REVENUE TO A THIRD QUARTER RECORD $180.2 MILLION

COLUMBUS, Georgia - November 9, 2015 - Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema and 3-D motion picture exhibitor, today reported results for the three and nine month periods ended September 30, 2015, as summarized below.

SUMMARY FINANCIAL DATA

(unaudited)


Three Months Ended September 30,


Nine Months Ended September 30,


(in millions) 2015 2014 2015 2014


Total operating revenues

$ 180.2

$ 162.6

$ 583.7

$ 504.5

Operating income

2.8

2.4

41.7

29.2

Interest expense

12.3

12.8

37.6

39.0

Theatre level cash flow (1)

25.6

24.5

108.1

89.8

Net loss

(6.3)

(6.8)

(7.3)

(6.7)

Adjusted net (loss) income (1)

(4.6)

(4.1)

7.3

(1.6)

Adjusted EBITDA (1)

20.1

19.2

90.7

74.0


(in millions)


Sept. 30, 2015


Dec. 31, 2014

Total debt(1)

$ 456.7

$ 445.1

Net debt(1)

$ 336.3

$ 347.5


  1. Theatre level cash flow, adjusted net (loss) income, adjusted EBITDA, total debt and net debt are supplemental non-GAAP financial measures. Reconciliations of theatre level cash flow and adjusted EBITDA to net loss and adjusted net (loss) income to net loss for the three and nine months ended September 30, 2015 and 2014, as well as a schedule of total debt and net debt as of September 30, 2015 and December 31, 2014, are included in the supplementary tables accompanying this news announcement.


    'Carmike's record third quarter operating revenue growth reflects the successful execution of our strategies to add value through theatre acquisitions and organic growth and the ongoing success of our theatre-level initiatives, combined with the support of a favorable year-to-date U.S. box office environment. Over the past several years, Carmike's admissions revenue growth per screen has consistently outpaced the industry. The 2015 third quarter extended this trend as admissions revenues per screen grew nearly 9%, outperforming the industry by approximately 290 basis points. Attendance growth of nearly 7% and a 4% increase in average ticket prices versus the comparable 2014 period generated an 11% rise in total operating revenues,' stated David Passman, Carmike Cinemas' President and Chief Executive Officer.


    'In the third quarter, we extended our success around our food and beverage initiatives, which we believe is an important factor in our ability to support top-line growth, with an 11% increase in total concessions and other revenues and 5% rise in concessions

    and other spending per patron. By expanding in-theatre dining services to additional markets and further building on our successful long-term food and beverage strategies, we maintained healthy gross margins while generating concessions and other spending per patron of $4.55, marking 23 consecutive reporting periods of year-over-year concessions and other per patron spending growth.


    'Over the last three years, Carmike has effectively executed its long-term strategy to identify, efficiently finance and integrate accretive theatre acquisitions, which we believe will enhance shareholder value. On October 6, 2015, the Company acquired Sundance Cinemas for $36 million in cash. The Sundance transaction is another positive development for Carmike and we intend to continue our role as an industry consolidator. With a strong balance sheet that includes over $120 million in cash and a recently refinanced capital structure that affords us the financial flexibility to continue pursuing additional strategic transactions and organic growth opportunities, we remain confident in the Company's prospects to further expand the business for sustainable growth.


    'In summary, we are pleased with our record year-to-date operating revenues and remain optimistic that the positive operating environment will continue for the remainder of 2015 and beyond,' concluded Mr. Passman.


    THEATRE PERFORMANCE STATISTICS

    (unaudited)


    Three Months Ended September 30,

    Nine Months Ended September 30,


    2015

    2014

    2015

    2014

    Average theatres

    269

    269

    271

    257

    Average screens

    2,875

    2,830

    2,885

    2,713

    Average attendance per screen (1)

    5,319

    5,069

    16,859

    15,999

    Average admission per patron (1)

    $ 7.23

    $ 6.98

    $ 7.36

    $ 7.19

    Average concessions and other sales per patron (1)

    $ 4.55

    $ 4.35

    $ 4.68

    $ 4.41

    Total attendance (in thousands) (1)

    15,294

    14,348

    48,475

    43,500

    Total operating revenues (in thousands)

    $ 180,241

    $ 162,632

    $ 583,674

    $ 504,542


    1. Includes activity from theatres designated as discontinued operations and reported as such in the consolidated statements of operations.


    2. Carmike Cinemas' Chief Financial Officer Richard B. Hare stated, 'Third quarter operating revenue increase of 10.8% reflects balanced growth across our two revenue streams - a 10.4% increase in admissions revenue and 11.4% rise in concessions and other revenue. Top-line growth is attributable to Carmike's expanded theatre circuit, favorable box office environment, and our ability to gain a greater share of the consumer wallet as reflected in a 4.9% rise in average attendance per screen, a 3.6% increase in average ticket prices and a 4.6% rise in concessions/other spending per patron. Overall, guests spent an average of $11.78 per visit in the third quarter, which represents a 4% increase in combined per-patron spending, compared to the prior year.


      'Carmike's Q3 2015 film exhibition costs as a percentage of admissions revenues were 55.5%, versus 54.6% in the third quarter of 2014, as a result of strong performing titles. Concession costs as a percentage of concessions and other revenue increased to 12.8%, due to higher costs related to our Ovation dine-in theatres, expanded beverage offerings, (including alcohol), at a greater number of locations and the timing of concession rebates.


      'The year-over-year increases in our three theatre-level expense categories primarily reflect the overall increase in Carmike's average screen count related to recent acquisitions and new theatre openings. Salaries and benefits rose $2.8 million to $25.7 million while theatre occupancy costs increased $2.2 million to $24.0 million and other theatre operating costs rose to $34.6 million, compared to $31.4 million in the third quarter of 2014. As a percentage of total operating revenues, these combined theatre- level expense categories remained flat at 46.8% versus the prior year period.


      'General and administrative expenses were $7.0 million for the third quarter of 2015, including $1.2 million of non-cash share- based compensation expense and $0.3 million of one-time merger and acquisition related costs, while quarterly interest expense decreased $0.5 million to $12.3 million in the quarter, primarily due to more favorable terms as a result of the refinancing transactions we completed in the second quarter of 2015.


      'Adjusted EBITDA increased 4.6% to $20.1 million and theatre level cash flow rose approximately 4.2% to $25.6 million. We will continue to exercise sensible cost management, especially on controllable expenses, to maximize our future organizational operating performance.

      'We continue to have a strong balance sheet and ample liquidity to fund our operating and growth strategies as reflected in our cash position of $120.4 million at September 30, 2015. Net debt for the quarter was $336.3 million, compared with $347.5 million at December 31, 2014. We expect Carmike's total financial leverage ratio to remain below 4x, reflecting recent refinancing activity inclusive of approximately $1.7 million in annual interest expense savings through 2023. Our capital allocation strategy continues to focus on deploying cash to expand our theatre circuit through accretive acquisitions and new build locations,' concluded Mr. Hare.


      About Carmike Cinemas (www.carmike.com)

      Carmike Cinemas, Inc. is a U.S. leader in digital cinema, 3-D cinema deployments and alternative programming and is one of the nation's largest motion picture exhibitors. Carmike has 275 theatres with 2,921 screens in 41 states. The circuit includes 50 premium large format (PLF) auditoriums featuring state-of-the-art technology and luxurious seating, including 32 'BigDs,' 16 IMAX auditoriums and two MuviXL screens. As 'America's Hometown Theatre Chain' Carmike's primary focus is mid-sized communities. Visit www.carmike.com for exact show-times and to purchase tickets.


      Disclosure Regarding Forward-Looking Statements

      This press release contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about our beliefs, expectations and future performance, are forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words, 'believes,' 'expects,' 'anticipates,' 'plans,' 'estimates,' 'seeks' or similar expressions. Examples of forward-looking statements in this press release include the Company's expectations regarding results from our operating strategies, box office performance, operating results from our recent acquisitions, food and beverage strategies, circuit expansion and additional acquisition opportunities. 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 our 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: our ability to achieve expected results from our strategic acquisitions, general economic conditions in our regional and national markets; our ability to comply with covenants contained in the agreements governing our indebtedness; our 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; our ability to meet our contractual obligations, including all outstanding financing commitments; the availability of suitable motion pictures for exhibition in our markets; competition in our markets; competition with other forms of entertainment; the effect of our leverage on our 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 our business; and other factors, including the risk factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2014, under the caption 'Risk Factors.' We believe 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 we undertake no obligation to update publicly any of them in light of new information or future events.


      Contact:

      Norberto Aja or Jennifer Neuman Richard B. Hare

      JCIR Chief Financial Officer

      212/835-8500 or ckec@jcir.com 706/576-3416

      CARMIKE CINEMAS, INC. and SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data)


      Three Months Ended Nine Months Ended September 30, September 30,

      2015

      2014

      2015

      2014

      (Unaudited)

      (Unaudited)

      (Unaudited)

      (Unaudited)

      Revenues:

      Admissions

      $ 110,633

      $ 100,173

      $ 356,975

      $ 312,860

      Concessions and other

      69,608

      62,459

      226,699

      191,682

      Total operating revenues

      180,241

      162,632

      583,674

      504,542

      Operating costs and expenses:

      Film exhibition costs

      61,376

      54,698

      202,348

      172,021

      Concession costs

      8,938

      7,318

      26,688

      22,414

      Salaries and benefits

      25,722

      22,947

      75,505

      67,968

      Theatre occupancy costs

      24,019

      21,782

      71,353

      63,097

      Other theatre operating costs

      34,620

      31,357

      99,730

      89,285

      General and administrative expenses

      6,963

      8,413

      25,201

      22,439

      Depreciation and amortization

      14,455

      12,206

      41,289

      35,903

      (Gain) loss on sale of property and equipment

      (41)

      292

      (3,365)

      620

      Impairment of long-lived assets

      1,388

      1,198

      3,258

      1,556

      Total operating costs and expenses

      177,440

      160,211

      542,007

      475,303

      Operating income

      2,801

      2,421

      41,667

      29,239

      Interest expense

      12,309

      12,846

      37,617

      38,962

      Loss on extinguishment of debt

      -

      -

      17,550

      -

      Loss before income tax and income from unconsolidated affiliates

      (9,508)

      (10,425)

      (13,500)

      (9,723)

      Income tax benefit

      (2,212)

      (2,912)

      (3,226)

      (2,530)

      Income from unconsolidated affiliates (Note 11)

      1,039

      756

      2,963

      546

      Loss from continuing operations

      (6,257)

      (6,757)

      (7,311)

      (6,647)

      Loss from discontinued operations (Note 7) - - -(52)

      Net loss

      $ (6,257)

      $ (6,757)

      $ (7,311)

      $ (6,699)

      Weighted average shares outstanding:

      Basic and Diluted

      24,510

      23,596

      24,394

      23,099

      Diluted

      24,510

      23,596

      24,394

      23,099

      Net loss per common share (Basic and Diluted)

      $ (0.26)

      $ (0.29)

      $ (0.30)

      $ (0.29)

    distributed by