Carmike Says ‘Godzilla’ Will Bite Its Profit

Carmike Cinemas Inc., the nation’s largest movie theater operator, warned that its second-quarter profit will fall well below analysts’ forecasts because of the disappointing performance of “Godzilla” and other films. Sony Corp.’s “Godzilla,” which opened May 19, was expected to lift the fortunes of the film business after a slow spring, but the $55 million in ticket sales it garnered in its first weekend fell below the $100 million some analysts expected. “It is unlikely that the upcoming pictures will surpass expectations sufficiently to overcome the current shortfall,” Carmike said in a statement. Columbus, Ga.-based Carmike, which operates 513 theaters, with about 2,700 screens, was expected to earn 54 cents a share, according to the average estimate of analysts surveyed by IBES International Inc. Estimates ranged from 48 cents to 62 cents a share. Carmike earned $5.9 million, or 52 cents a share, in the previous second quarter. The announcement sent Carmike’s shares down $1.56, or 5.7%, in heavy trading, to close at $25.75 on the New York Stock Exchange.