FullCircle Registry Goes Profitable in Q1 at Georgetown Theater

After being hamstringed to a certain extent by nearly a year’s worth of road construction in front of its theater outside of Indianapolis, Indiana, FullCircle Registry, Inc. (OTCBB:FLCR) ratcheted-up business in the first quarter flagship movie complex. The company recently said that the preliminary unaudited financials for the March 31, 2012 Quarter show that FullCircle Entertainment, Inc., its subsidiary which operates the Georgetown 14 theater property, achieved a profit for the quarter.

After receiving $790,000 in funding early in January 2012, the company completed a total conversion from 35 mm projection reel equipment to state-of-the-art digital equipment, which was completed later that month. The conversion not only provided a better quality picture and sound, but also afforded Georgetown 14 that ability to show the 3-D movies that theater buffs love to see.

Even though March is traditionally not a strong month in the theater industry and the company had to foot the bill for conversion expenses, interest and property taxes, profitability was achieved during the quarter. The parent company achieved an EBIT (before interest and taxes) profit of approximately $12,347 for the quarter. The Gross Profit margin before operating expenses (unaudited) was $255,874 or 58%.

“This year has gotten off to an exciting start for Georgetown 14 with ticket sales and revenues up significantly over last year,” said Norman Frohreich, President and CEO of FullCircle Registry. “With the summer blockbuster season set to kick off next month, we have every reason to anticipate much more growth and profits for the remainder of the year.”

FullCircle Registry (FLCR) Stock Quote and News:

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