FX.co ★ Marcus Turns To Q2 Loss

The Marcus Corporation (MCS) announced a net loss of $20.22 million, or $0.64 per share, for the second quarter, compared to a net income of $13.47 million, or $0.35 per share, in the same period last year.

The reported net loss was significantly affected by a $15 million, or $0.47 per share, debt conversion expense and related tax impacts stemming from previously announced repurchases of convertible senior notes.

Excluding these items, the company recorded a loss of $5.2 million, or $0.17 per share.

Quarterly revenue saw a decline, dropping to $176.03 million from the previous year's $207.01 million.