UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 10-Q
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended : May 31, 1997
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
- --- THE SECURITIES ACT OF 1934
For the transition period from to
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Commission File Number 333-2724
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Cobb Theatres, L.L.C.
(Exact name of Registrant as Specified in its Charter)
Alabama 63-1161322
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
924 Montclair Road
Birmingham, Alabama 35213
(Address of principal executive offices)
(205)591-2323
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all
reports to be filed by Section 13 or 15 (d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that Registrant was required to file such
reports), and (2) has been subject to such filing requirements
for the past 90 days.
Yes Not Applicable No
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COBB THEATRES, L.L.C.
FORM 10-Q
FOR THE QUARTER ENDED May 31, 1997
INDEX
Page No.
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PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
Consolidated Statements of Operations 3
Consolidated Balance Sheets 4
Consolidated Statements of Cash Flows 5
Notes to Consolidated Financial Statements 6
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS 8
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS 13
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K 13
SIGNATURES 14
COBB THEATRES, L.L.C.
CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS)
(UNAUDITED)
THREE MONTHS NINE MONTHS
ENDED MAY 31, ENDED MAY 31,
-------------------- --------------------
1997 1996 1997 1996
--------- --------- --------- ---------
Revenues:
Theatre admissions.................................................. $ 20,947 $ 19,117 $ 59,532 $ 55,700
Concessions......................................................... 9,185 7,673 24,708 21,957
Other............................................................... 642 668 1,937 2,055
--------- --------- --------- ---------
Total revenues.................................................. 30,774 27,458 86,177 79,712
Costs of revenues:
Film rental......................................................... 10,603 9,155 30,031 27,008
Concession.......................................................... 1,373 1,148 3,811 3,335
--------- --------- --------- ---------
Total cost of revenues.......................................... 11,976 10,303 33,842 30,343
--------- --------- --------- ---------
Gross profit.................................................... 18,798 17,155 52,335 49,369
Operating expenses:
Advertising......................................................... 780 834 2,382 2,414
Payroll and related costs........................................... 3,735 3,512 10,969 9,916
Occupancy........................................................... 7,185 6,360 20,862 18,777
Repairs and maintenance............................................. 309 458 1,209 1,020
General and administrative.......................................... 2,034 2,008 5,581 5,773
Depreciation and amortization....................................... 2,469 2,324 7,280 6,792
Other............................................................... 1,123 1,233 3,301 3,470
--------- --------- --------- ---------
Total operating expenses........................................ 17,635 16,729 51,584 48,162
--------- --------- --------- ---------
Operating income................................................ 1,163 426 751 1,207
--------- --------- --------- ---------
Other income (deductions):
Interest expense.................................................... (2,368) (2,266) (6,886) (6,004)
Interest income..................................................... 26 35 68 65
Other............................................................... (213) (118) (256) (146)
--------- --------- --------- ---------
(2,555) (2,349) (7,074) (6,085)
--------- --------- --------- ---------
Income (loss) before income taxes..................................... (1,392) (1,923) (6,323) (4,878)
Income tax expense (benefit).......................................... ( 508) (592) (2,296) (1,671)
--------- --------- --------- ---------
Income (loss) before extraordinary item............................... (884) (1,331) (4,027) (3,207)
Extraordinary item--Loss on extinguishment of debt (net of income tax
of $440)............................................................ 0 (751) 0 (751)
--------- --------- --------- ---------
Net income (loss)............................................... $ (884) $ (2,082) $ (4,027) $ (3,958)
--------- --------- --------- ---------
--------- --------- --------- ---------
See accompanying notes to financial statements.
3
COBB THEATRES, L.L.C.
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)
MAY 31, AUGUST 31,
ASSETS 1997 1996
- ---------------------------------------------------------------------- --------- ---------
(UNAUDITED)
Current assets:
Cash and equivalents............................................... $ 1,290 $ 8,073
Receivables........................................................ 589 1,236
Other assets....................................................... 5,202 4,343
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Total current assets........................................... 7,081 13,652
Property and equipment, net.......................................... 83,357 79,683
Intangible assets, net............................................... 15,031 16,187
Other assets......................................................... 5,739 3,973
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Total assets................................................... $ 111,208 $ 113,495
----------- ----------
----------- ----------
LIABILITIES AND MEMBERS' EQUITY
Current liabilities:
Accounts payable................................................... $ 4,430 $ 4,276
Accrued film rentals............................................... 6,775 4,833
Accrued interest payable........................................... 2,317 4,759
Accrued expenses and other liabilities............................. 4,472 4,836
Revolving line of credit........................................... 2,476 --
Obligations under capital leases, current installments............. 275 275
----------- ----------
Total current liabilities...................................... 20,745 18,979
Long-term debt....................................................... 85,000 85,000
Obligations under capital leases..................................... 1,328 1,532
Other long-term liabilites........................................... 5,105 4,927
----------- ----------
Total liabilites............................................... 112,178 110,438
Commitments and contingencies
Members' equity...................................................... (970) 3,057
----------- ----------
Total liabilities and members' equity.......................... $ 111,208 $ 113,495
----------- ----------
----------- ----------
See accompanying notes to financial statements.
4
COBB THEATRES, L.L.C.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN THOUSANDS)
(UNAUDITED)
NINE MONTHS
ENDED MAY 31,
-----------------------
1997 1996
---- ----
Cash flows from operating activities:
Net loss.................................... $(4,027) $ (3,958)
Adjustments to reconcile net loss to net
cash used for operating activities:
Depreciation and amortization............. 7,280 6,792
(Gain) loss on asset dispositions......... 256 146
Provision for deferred income taxes....... (2,296) (2,111)
Extraordinary loss on debt extinguishment. -- 751
(Increase) decrease in assets:
Receivables............................... 647 329
Other current assets...................... 176 (592)
Increase (decrease) in liabilities:
Accounts payable.......................... 154 (1,756)
Accrued film rental....................... 1,942 477
Accrued interest payable.................. (2,442) 2,152
Accrued expenses and other liabilities.... (364) (941)
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Total adjustments....................... 5,353 5,247
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Net cash provided by operating 1,326
activities............................ 1,289
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Cash flows from investing activites:
Additions to property and equipment......... (15,682) (8,972)
Sales of property and equipment 5,340 --
Other....................................... (39) (350)
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Net cash used in investing activities... (10,381) (9,322)
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Cash flows from financing activities:
Proceeds from senior secured notes.......... -- 85,000
Proceeds from senior subordinated notes..... -- 10,000
Payments on senior subordinated notes....... -- (10,000)
Proceeds (payments) on long-term bank debt,
net....................................... -- (60,798)
Proceeds (payments) on revolving line of
credit.................................... 2,476 (9,700)
Principal payments under capital lease...... (204) (146)
Capitalized debt issue costs................ -- (4,376)
Debt prepayment fees........................ -- (615)
------------ -------
Net cash provided by financing activities... 2,272 9,365
------------ -------
Net (decrease) increase in cash and
equivalents............................... (6,783) 1,332
Cash and equivalents--beginning of period... 8,073 1,241
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Cash and equivalents--end of period......... $1,290 $ 2,573
------------ -------
----------- -------
Supplemental disclosures of cash flow
information:
Cash paid for: Interest $9,160 $ 5,939
---------- -------
---------- -------
Income taxes $ -- $ 1,634
---------- -------
---------- -------
See accompanying notes to financial statements.
5
COBB THEATRES, L.L.C.
Notes to Consolidated Financial
May 31, 1997
(unaudited)
NOTE 1--BASIS OF PRESENTATION
Cobb Theatres, L.L.C. (the "Company") is an Alabama limited liability company
engaged in the operation and management of multi-screen motion picture
theatres.
The accompanying unaudited consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for
interim financial information. Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting
principles for complete financial statements. In the opinion of management,
all adjustments (consisting of normal recurring accruals) considered
necessary for a fair presentation have been included.
Due to the seasonal nature of the Company's business, operating results for
the three months and nine months ended May 31, 1997 are not necessarily
indicative of the results that may be expected for the year ending August 31,
1997. For further information, refer to the audited consolidated financial
statements and footnotes thereto included in the Form 10-K for the year ended
August 31, 1996.
NOTE 2--EARNINGS PER SHARE
Earnings per share information is not presented as the Company is a limited
liability company consisting of members' interests rather than shareholders'
interests.
NOTE 3--LONG TERM DEBT
On March 6, 1996, the Company issued $85 million of 10 5/8% Senior Secured
Notes due March 1, 2003. Concurrent with the issuance of the Senior Secured
Notes, the Company entered into a $25 million New Credit Facility, led by one
of its existing banks. Cobb Finance Corp. and the Company are joint and
several obligors with respect to the Senior Secured Notes and the New Credit
Facility.
The Senior Secured Notes and the New Credit Facility are fully and
unconditionally guaranteed on a joint and several basis by a first pledge of
the equity interests of the guarantor subsidiaries of the Company, all
intercompany notes and a security interest in all of the assets (other than
real property) of the Company's subsidiaries.
6
NOTE 4--SUMMARIZED INCOME STATEMENT INFORMATION FOR
GUARANTOR SUBSIDIARIES
R.C. Cobb, Inc. and Cobb Theatres II, Inc. (the guarantor subsidiaries) along
with Cobb Finance Corp. are wholly-owned subsidiaries of the Company and
comprise all of the direct subsidiaries of the Company. There are no indirect
subsidiaries. Cobb Finance Corp. does not have any substantial operations or
assets of any kind.
Summarized income statement information for the Company's guarantor
subsidiaries is as follows:
THREE MONTHS NINE MONTHS
ENDED MAY 31, 1997 ENDED MAY 31, 1997
---------------------------- ----------------------------
COBB COBB
R.C. THEATRES II, R.C. THEATRES II,
COBB, INC. INC. COBB, INC. INC.
----------- --------------- ----------- ---------------
Total revenues.......................................... $ 22,242 $ 8,883 $ 63,571 $ 23,587
Cost of revenues........................................ 8,320 3,656 24,034 9,808
Operating expenses...................................... 9,740 3,743 29,083 10,619
General and administrative expenses..................... 1,953 81 5,405 176
Depreciation and amortization........................... 1,529 940 4,515 2,765
Operating income........................................ 700 463 534 218
Interest expense, net................................... 1,146 1,193 3,468 3,350
Net income (loss)....................................... (419) (465) (2,038) (1,989)
Separate financial statements and other disclosures concerning Cobb Finance
Corp. and the guarantor subsidiaries are not presented because management has
determined that separate disclosures for each of the two operating
subsidiaries would not provide any additional information that would be
material to investors that is not already presented in the consolidated
financial statements.
NOTE 5--SUBSEQUENT EVENTS
On June 11, 1997, the Company entered into an agreement to merge with Regal
Cinemas, Inc. of Knoxville, Tennessee. The transaction will be accounted for
as a pooling of interests. The consideration of approximately $200 million
consists of Regal common stock and the assumption of all outstanding
indebtedness of Cobb Theatres. Consummation of the transaction is subject to
customary closing conditions and the expiration of the waiting period under
the Hart-Scott-Rodino Act. The Company expects the merger to be completed by
the end of July 1997.
7
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
The following discussion of the financial condition and results of operations
of the Company should be read in conjunction with the consolidated financial
statements and the notes thereto included herein.
OVERVIEW
The Company's revenues are generated primarily from admission revenues and
concession revenues. Additional revenues are generated by on-screen
advertising and electronic video games installed in the lobbies of the
Company's theatres. The two major components of admissions revenues are
attendance and ticket prices. Attendance is most influenced by the quality of
films released by distributors and, to a lesser extent, by expansions into
new markets, competition and population growth in the geographic markets.
Although the Company's ticket pricing in a particular market may change in
response to competition and other factors, the Company's average ticket price
has remained relatively stable throughout the periods presented. The
Company's principal costs of operations are film rentals, costs of
concessions, payroll, occupancy costs, such as theatre rentals, ad valorem
taxes and utilities, advertising costs and other expenses, such as insurance.
The following table sets forth, for the fiscal periods indicated, the
percentage of total revenues represented by certain items reflected in the
Company's consolidated statements of operations:
PERCENTAGE OF TOTAL REVENUES
------------------------------------------
THREE MONTHS NINE MONTHS
ENDED MAY 31, ENDED MAY 31,
-------------------- --------------------
1997 1996 1997 1996
--------- --------- --------- ---------
Revenues:
Theatre Admissions......................................................... 68.1% 69.6% 69.1% 69.9%
Concessions................................................................ 29.9% 27.9% 28.7% 27.5%
Other...................................................................... 2.0% 2.5% 2.2% 2.6%
--------- --------- --------- ---------
Total Revenues........................................................... 100.0% 100.0% 100.0% 100.0%
Cost of Revenues............................................................... 38.9% 37.5% 39.3% 38.1%
--------- --------- --------- ---------
Gross Profit................................................................... 61.1% 62.5% 60.7% 61.9%
Other theatre operating costs.................................................. 42.7% 45.1% 44.9% 44.7%
General and administrative expenses............................................ 6.6% 7.3% 6.5% 7.2%
Depreciation and amortization.................................................. 8.0% 8.5% 8.4% 8.5%
--------- --------- --------- ---------
Operating income............................................................... 3.8% 1.5% 0.9% 1.5%
Interest expense, net.......................................................... (7.7%) (8.1%) (8.0%) (7.5%)
Net income (loss).............................................................. (2.9%) (7.6%) (4.7%) (5.0%)
Other key ratios:
Film rental as a percentage of admission revenues.............................. 50.6% 47.9% 50.4% 48.5%
Cost of concessions as a percentage of concession revenues..................... 14.9% 15.0% 15.4% 15.2%
8
COMPARISON OF THE THREE MONTHS ENDED MAY 31, 1997 AND 1996
REVENUES. Revenues increased 12.1% in the three months ended May 31, 1997
(third quarter of fiscal 1997) to $30.8 million from $27.5 million in the
three months ended May 31, 1996 (third quarter of fiscal 1996). The increase
in revenues is attributable to a 4.3% increase in the average screen count, a
$0.27 increase in the average ticket price and a $.25 increase in concession
revenues per patron partially offset by a 213 patron decrease in average
attendance per screen.
GROSS PROFIT. Gross profit (consisting of revenues less film rental costs
and cost of concessions) increased 9.6% in the third quarter of fiscal 1997
to $18.8 million from $17.2 million in the third quarter of fiscal 1996. This
increase is primarily attributable to the 12.1% increase in revenues,
partially offset by the increase of 15.8% in film rental expense and 19.6% in
costs of concessions. Gross profit as a percentage of total revenues (the
"gross profit percentage") was 61.1% in the third quarter of fiscal 1997 and
62.5% in the third quarter of fiscal 1996. The decrease in gross profit as a
percentage of revenues resulted primarily from an increase in film rental
costs as a percentage of theatre admissions from 47.9% to 50.6%.
OTHER THEATRE OPERATING COSTS. Other theatre operating costs increased 5.9%
in the third quarter of fiscal 1997 to $13.1 million from $12.4 million in
the third quarter of fiscal 1996, primarily resulting from a 4.3% increase in
the average screen count at a higher average cost per screen, partially
offset by a decrease in repairs and maintenance expense, supplies expense and
insurance expense. Other theatre operating costs as a percentage of revenues
decreased to 42.7% in the third quarter of fiscal 1997 from 45.1% in the
third quarter of fiscal 1996 primarily due to the reasons stated above as
well as the overall increase in revenues.
GENERAL AND ADMINISTRATIVE EXPENSES. General and administrative expenses
increased 1.3% in the third quarter of fiscal 1997 compared to the third
quarter of fiscal 1996. General and administrative expenses as a percentage
of revenues decreased to 6.6% in the third quarter of fiscal 1997 from 7.3%
in the third quarter of fiscal 1996 due to the increase in the Company's
revenues.
DEPRECIATION AND AMORTIZATION. Depreciation and amortization expense
increased 6.2% in the third quarter of fiscal 1997 to $2.5 million from $2.3
million in the third quarter of fiscal 1996. This increase was primarily the
result of theatre property additions over the past twelve months.
INTEREST EXPENSE. Interest expense increased 4.5% in the third quarter of
fiscal 1997 to $2.4 million from $2.3 million in the third quarter of fiscal
1996.
NET LOSS. The Company incurred a net loss of $885,000 in the third quarter
of fiscal 1997 compared to a net loss of $2.1 million in the third quarter of
fiscal 1996, primarily resulting from the increase in revenues and the
decrease in other theatre operating costs as a percentage of revenues ,
partially offset by the increase in film rental costs. In addition, the net
loss for the third quarter of fiscal 1996 included an extraordinary loss on
the extinguishment of debt of $751,000, net of income tax.
9
COMPARISON OF THE NINE MONTHS ENDED MAY 31, 1997 AND 1996
REVENUES. Revenues increased 8.1% in the nine months ended May 31, 1997 (the
1997 period) to $86.2 million from $79.7 million in the nine months ended May
31, 1996 (the 1996 period). The increase in revenues is attributable to a
3.1% increase in the average screen count in the 1997 period from the 1996
period, a $0.13 increase in the average ticket price and a $0.13 increase in
concession revenues per patron.
GROSS PROFIT. Gross profit (consisting of revenues less film rental costs
and cost of concessions) increased 6.0% in the 1997 period to $52.3 million
from $49.4 million in the 1996 period. This increase is primarily
attributable to the 8.1% increase in revenues, partially offset by the
increase of 11.2% in film rental expense and 14.3% in concession costs. Gross
profit as a percentage of total revenues (the "gross profit percentage")
decreased to 60.7% in the 1997 period from 61.9% in the 1996 period. The
decrease in gross profit as a percentage of revenues resulted primarily from
an increase in film rental costs as a percentage of theatre admissions from
48.5% to 50.5%.
OTHER THEATRE OPERATING COSTS. Other theatre operating costs increased 8.8%
in the 1997 period to $38.7 million from $35.6 million in the 1996 period,
primarily resulting from a 3.1% increase in the average screen count at a
higher average cost per screen, an increase in payroll costs as a percentage
of revenues and an increase in repairs and maintenance costs. Other theatre
operating costs as a percentage of revenues increased to 44.9% in the 1997
period from 44.7% in the 1996 period primarily due to the reasons stated
above plus the fact that facility and other costs were incurred on 12 screens
which were closed during most of the 1997 period for renovation and expansion
plus an additional 14 screens which were closed for three and a half months
for renovation and expansion.
GENERAL AND ADMINISTRATIVE EXPENSES. General and administrative expenses
decreased 3.3% in the 1997 period compared to the 1996 period. General and
administrative expenses as a percentage of revenues decreased to 6.5% in the
1997 period from 7.2% in the 1996 period due to the increase in the Company's
revenues combined with the decrease in general and administrative expenses.
DEPRECIATION AND AMORTIZATION. Depreciation and amortization expenses
increased 7.2% in the 1997 period to $7.3 million from $6.8 million in the
1996 period. This increase was primarily the result of theatre property
additions over the past twelve months.
INTEREST EXPENSE. Interest expense increased 14.7% in the 1997 period to
$6.9 million from $6.0 million in the 1996 period. The increase was due to an
increase in the average debt outstanding and higher interest rates on a
significant portion of the Company's debt in the 1997 period versus the 1996
period.
NET LOSS. The Company incurred a net loss in the 1997 period of $4.0 million
compared to a net loss of $4.0 million in the 1996 period. The net loss for
the 1996 period included a loss on the extinguishment of debt of $751,000,
net of income tax. The increased loss in the 1997 period was primarily due to
the increase in film rental costs as a percentage of theatre admissions and
the increase in other theatre operating costs and interest expense.
10
LIQUIDITY AND CAPITAL RESOURCES
The Company's revenues are collected in cash, primarily through box office
admissions and theatre concession revenues. The Company has an operating
"float" which partially finances its operations and which permits the Company
to maintain a small amount of working capital capacity. The "float" exists
because its revenues are received in cash, while exhibition costs (primarily
film rentals) are ordinarily paid to distributors within 14 to 45 days
following receipt of admission revenues.
On March 6, 1996, the Company issued $85 million of 10 5/8% Senior Secured
Notes due 2003 and entered into a $25 million New Credit Facility. Interest
on the Senior Secured Notes is paid semi-annually and commenced on September
1, 1996. The New Credit Facility consists of a seasonal revolving loan
facility in the aggregate amount of $12.5 million (the "Seasonal Revolver")
available for working capital purposes and a reducing revolving loan facility
in the aggregate commitment amount of $12.5 million (the "Reducing Revolver")
available for future capital expenditures.
Under the terms of the New Credit Facility, $12.5 million was available under
the Seasonal Revolver at May 31, 1997 with $2.5 million outstanding. The
Company will have access to the Reducing Revolver once its ratio of net debt
to EBITDA is less than (i) 4.5 to 1.0, with respect to the first $7.0 million
available under the Reducing Revolver and (ii) 4.25 to 1.0, with respect to
the remaining $5.5 million available under the Reducing Revolver.
The New Credit Facility contains covenants that, among other things, restrict
the ability of the Company to incur additional debt, create certain liens,
make certain investments (including certain capital expenditures), pay
dividends or make other distributions, sell assets of the Company or its
subsidiaries, issue or sell equity interests of the Company's subsidiaries or
enter into certain mergers or consolidations. Under the New Credit Facility,
the Company is required to comply with specified financial ratios, including
maximum net debt to EBITDA and minimum interest coverage and fixed charge
coverage ratios.
The Company's primary capital requirements are for furniture and equipment
relating to new theatre openings and for remodeling, expansion and
maintenance of existing theatres. The Company prefers to develop theatres on
a leasehold basis rather than a fee-owned basis due to the fact that the
capital requirements associated with developing a theatre on a leasehold
basis are significantly less than developing a theatre on a fee-owned basis.
The Company has historically developed, and plans to continue developing, a
significant portion of new theatres by entering into long-term, net leases
which provide for the incurrence by the landlord of the construction costs of
the theatre, other than those for furniture, fixtures and equipment, in
exchange for the Company's entering into the lease. The Company historically
has funded its capital expansion needs through financing activities and with
excess funds generated from its operations.
During the nine months ended May 31, 1997, the Company made capital
expenditures of approximately $15.7 million primarily for developing new
theatres and adding new screens to existing theatres. During this period the
Company opened three leased theatres with 34 screens and added 18 new screens
to two leased theatres. The Company closed six leased theatres with 26
screens resulting in a circuit total of 619 screens in 67 theatres as of May
31, 1997.
11
In December 1996, the Company completed the sale of two parcels of
undeveloped land for approximately $4.0 million and simultaneously entered
into leaseback arrangements for the development of two new theatres on these
parcels with a total of 36 screens scheduled to be completed in November 1997.
Construction is underway in the development of four new theatres with a total
of 83 screens which are scheduled to open prior to December 31, 1997.
12
PART II--OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
From time to time, the Company is involved in various legal proceedings
arising in the ordinary course of its business operations, such as personal
injury claims, employment matters and contractual disputes. Management
believes that the Company's potential liability with respect to proceedings
currently pending is not material in the aggregate to the Company's
consolidated financial position or results of operations.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
Exhibit 2 Plan of acquisition
Exhibit 27 Financial Data Schedule
(b) Reports on Form 8-K
The Registrant filed no Current Reports on Form 8-K during the period covered
by this Quarterly Report on Form 10-Q.
No other Items of Form 10-Q are applicable to the Registrant for the period
covered by this Quarterly Report on Form 10-Q.
13
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 thereunto duly authorized.
COBB THEATRES, L.L.C.
----------------------
(Registrant)
Date: 7/15/97 /s/ Robert M. Cobb
---------------------- ------------------
Robert M. Cobb
President and Chief Executive Officer
Date: 7/15/97 /s/ Ricky W. Thomas
---------------------- -------------------
Ricky W. Thomas
Senior Vice President and Chief Financial Officer
14