Cec Inc.

Half Moon Bay, CA, United States
Half Moon Bay, CA, United States
SEARCH FILTERS
Time filter
Source Type

A replay of the call will be available from 12:00 p.m. Central Time on May 9, 2017 through 11:00 pm Central Time on May 16, 2017.  The replay of the call can be accessed by dialing (800) 585-8367 or (404) 537-3406 for international participants and conference code 14882224. Certain statements made in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are based on management's expectations, beliefs, estimates and projections. Forward-looking statements are made based on management's current expectations and beliefs concerning future events and, therefore, involve a number of assumptions, risks and uncertainties, including the risk factors described in Part I, Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended January 1, 2017, filed with the Securities and Exchange Commission on March 16, 2017. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ from those anticipated, estimated or expected. The Company disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release. For 40 years, CEC Entertainment has served as the nationally recognized leader in family dining and entertainment with both its Chuck E. Cheese's and Peter Piper Pizza venues. As America's #1 place for birthdays, Chuck E. Cheese's goal is to create positive, lifelong memories for families through fun, food, and play and is the place Where A Kid Can Be A Kid ®. Committed to providing a fun, safe environment, Chuck E. Cheese's helps protect families through industry-leading programs such as Kid Check ®. As a strong advocate for its local communities, Chuck E. Cheese's has donated more than $14 million to schools through its fundraising programs and supports its national charity partner, Big Brothers Big Sisters. Peter Piper Pizza, with its neighborhood pizzeria feel, features dining, entertainment and carryout. The solution to 'family night out', Peter Piper Pizza takes pride in delivering a food first, parent friendly experience that reconnects family and friends. Expanding nationally, Peter Piper Pizza recently opened locations in Oklahoma, Nevada and Las Vegas featuring an all new prototype design. As of April 2, 2017 the Company and its franchisees operated a system of 606 Chuck E. Cheese's and 145 Peter Piper Pizza venues, with locations in 47 states and 12 foreign countries and territories. For more information, visit chuckecheese.com and peterpiperpizza.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cec-entertainment-inc-to-announce-first-quarter-2017-financial-results-and-host-conference-call-300452024.html


DALLAS, May 22, 2017 /PRNewswire/ -- Chuck E. Cheese's® celebrated its 40th birthday in a big way by hosting the 'Biggest Birthday Ever' with more than 8,544 people and counting (results are still being tallied) joining together at 550 Chuck E. Cheese's restaurants nationwide to set t...


News Article | May 16, 2017
Site: www.prnewswire.com

DALLAS, May 16, 2017 /PRNewswire/ -- Chuck E. Cheese's® has been the ultimate destination for birthday parties since it opened its door in 1977 and today hosts more than 10 million guests at birthday parties annually. Now, the family dining and entertainment leader is excited to host the...


A replay of the call will be available from 12:00 p.m. Central Time on August 4, 2017 through 11:00 pm Central Time on August 18, 2017.  The replay of the call can be accessed by dialing (800) 585-8367 or (404) 537-3406 for international participants and conference code 47041714. Certain statements made in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are based on management's expectations, beliefs, estimates and projections. Forward-looking statements are made based on management's current expectations and beliefs concerning future events and, therefore, involve a number of assumptions, risks and uncertainties, including the risk factors described in Part I, Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended January 1, 2017, filed with the Securities and Exchange Commission on March 16, 2017. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ from those anticipated, estimated or expected. The Company disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release. For 40 years, CEC Entertainment has served as the nationally recognized leader in family dining and entertainment with both its Chuck E. Cheese's and Peter Piper Pizza venues. As America's #1 place for birthdays, Chuck E. Cheese's goal is to create positive, lifelong memories for families through fun, food, and play and is the place Where A Kid Can Be A Kid ®. Committed to providing a fun, safe environment, Chuck E. Cheese's helps protect families through industry-leading programs such as Kid Check ®. As a strong advocate for its local communities, over the past 13 years Chuck E. Cheese's has donated more than $14 million to schools through its fundraising programs and supports its national charity partner, Big Brothers Big Sisters. Peter Piper Pizza, with its neighborhood pizzeria feel, features dining, entertainment and carryout. The solution to 'the family night out', Peter Piper Pizza takes pride in delivering a food first, parent friendly experience that reconnects family and friends. Expanding nationally, Peter Piper Pizza recently opened locations in Oklahoma, Nevada and Las Vegas featuring an all new prototype design. As of July 2, 2017 the Company and its franchisees operated a system of 610 Chuck E. Cheese's and 147 Peter Piper Pizza venues, with locations in 47 states and 12 foreign countries and territories. For more information, visit chuckecheese.com and peterpiperpizza.com.


DALLAS, Aug. 1, 2017 /PRNewswire/ -- Renowned for being "Where a Kid Can Be a Kid" for birthday parties and family fun, Chuck E. Cheese's is once again getting national recognition for its great-tasting pizza. In a recent nationwide blind taste test, more than 60 percent of people...


News Article | August 3, 2017
Site: www.prnewswire.com

"While we are pleased that our cost efforts allowed us to preserve margins, we are disappointed with our revenue performance in the second quarter," said Tom Leverton, Chief Executive Officer. "We experienced traffic declines in walk-in business as well as booked birthday parties during the quarter. To address the issue, we have returned our advertising messaging to our successful 2016 themes which focused on our many improvements to the in-store experience." Leverton continued, "A strong operating focus and the favorable impact of our recently implemented inventory management system led to Adjusted EBITDA of $40.3 million for the quarter." Total revenues decreased $4.8 million to $211.8 million during the second quarter of 2017 compared to the second quarter of 2016, primarily driven by a 3.8% decline in comparable venue sales, offset partially by new venue sales. The Company reported a net loss of $5.9 million for the second quarter of 2017, compared to a net loss of $9.1 million for the second quarter of 2016. The improved results were driven by improved venue level operating margins, lower depreciation, and lower general and administrative expenses, which offset the decline in Company-operated venue sales. During the second quarter of 2017 Adjusted EBITDA decreased $1.4 million, or 3.3%, to $40.3 million compared to the second quarter of 2016. As of July 2, 2017, cash and cash equivalents were $89.5 million, and the principal outstanding on our debt was $990.3 million, with net availability of $140.1 million on our undrawn revolving credit facility. During the second quarter of 2017, we had capital expenditures of $25.2 million, of which $8.7 million related to our PlayPass initiative and another $6.8 million related to other growth initiatives. In addition, we had $1.8 million in capital expenditures related to IT initiatives, and $7.9 million related to maintenance capital expenditures, primarily game enhancements and general venue capital expenditures. As of July 2, 2017, the Company's system-wide portfolio consisted of: The Company will host a conference call beginning at 9:00 a.m. Central Time on Friday, August 4, 2017. The call can be accessed by dialing (855) 743-8451 or (330) 968-0151 for international participants and conference code 47041714. A replay of the call will be available from 12:00 p.m. Central Time on August 4, 2017 through 11:00 p.m. Central Time on August 18, 2017. The replay of the call can be accessed by dialing (800) 585-8367 or (404) 537-3406 for international participants and conference code 47041714. For 40 years, CEC Entertainment has served as the nationally recognized leader in family dining and entertainment with both its Chuck E. Cheese's and Peter Piper Pizza venues. As America's #1 place for birthdays, Chuck E. Cheese's goal is to create positive, lifelong memories for families through fun, food, and play and is the place Where A Kid Can Be A Kid ®. Committed to providing a fun, safe environment, Chuck E. Cheese's helps protect families through industry-leading programs such as Kid Check®. As a strong advocate for its local communities, over the past 13 years Chuck E. Cheese's has donated more than $14 million to schools through its fundraising programs and supports its national charity partner, Big Brothers Big Sisters. Peter Piper Pizza, with its neighborhood pizzeria feel, features dining, entertainment and carryout. The solution to 'the family night out', Peter Piper Pizza takes pride in delivering a food first, parent friendly experience that reconnects family and friends. Expanding nationally, Peter Piper Pizza recently opened locations in Oklahoma, Nevada, New Mexico and Arizona featuring an all new prototype design. As of July 2, 2017, the Company and its franchisees operated a system of 610 Chuck E. Cheese's and 147 Peter Piper Pizza venues, with locations in 47 states and 12 foreign countries and territories. For more information, visit chuckecheese.com and peterpiperpizza.com. This press release contains forward-looking statements, which involve risks and uncertainties. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. All statements other than statements of historical facts contained in this press release, including statements regarding our strategy, future operations, objectives of management and expected market growth, are forward-looking statements. Forward-looking statements are made based on management's current expectations and beliefs concerning future events and, therefore, involve a number of assumptions, risks and uncertainties, including the risk factors described in Part I, Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended January 1, 2017, filed with the Securities and Exchange Commission on March 16, 2017. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ from those anticipated, estimated or expected. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including but not limited to: These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause our results to vary from expectations include, but are not limited to: The forward-looking statements made in this press release reflect our views with respect to future events as of the date of this press release and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, undue reliance should not be placed on these forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release and, except as required by law, we undertake no obligation to update or review publicly any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this report. We anticipate that subsequent events and developments will cause our views to change. Our forward-looking statements do not reflect the potential impact of any future acquisitions, merger, dispositions, joint ventures or investments we may undertake. We qualify all of our forward-looking statements by these cautionary statements. CEC ENTERTAINMENT, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) (in thousands, except percentages) Certain financial measures presented in this press release, such as Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") and Adjusted EBITDA as a percentage of revenues ("Adjusted EBITDA Margin") are not recognized terms under accounting principles generally accepted in the United States ("GAAP"). The Company's management believes that the presentation of these measures is appropriate to provide useful information to investors regarding its operating performance and its capacity to incur and service debt and fund capital expenditures. Further, the Company believes that Adjusted EBITDA is used by many investors, analysts and rating agencies as a measure of performance. The Company also presents Adjusted EBITDA because it is substantially similar to Credit Agreement EBITDA, a measure used in calculating financial ratios and other calculations under our debt agreements, except for (i) adding back the change in deferred amusement revenue, and (ii) excluding the annualized full year effect of Company-operated and franchised venues that were opened and closed during the year. By reporting Adjusted EBITDA, the Company provides a basis for comparison of its business operations between current, past and future periods by excluding items that we do not believe are indicative of our core operating performance. The Company's definition of Adjusted EBITDA allows for the exclusion of certain non-cash and other income and expense items that are used in calculating net income from continuing operations. However, these are items that may recur, vary greatly and can be difficult to predict. They can represent the effect of long-term strategies as opposed to short-term results. In addition, certain of these items can represent the reduction of cash that could be used for other corporate purposes. These measures should not be considered as alternatives to operating income, cash flows from operating activities or any other performance measures derived in accordance with GAAP as measures of operating performance, or cash flows as measures of liquidity. These measures have important limitations as analytical tools, and users should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. Because of these limitations, the Company relies primarily on its GAAP results and uses Adjusted EBITDA and Adjusted EBITDA Margin only supplementally. The following table sets forth a reconciliation of net income (loss) to Adjusted EBITDA and Adjusted EBITDA Margin for the periods shown:


News Article | May 24, 2017
Site: www.gizmag.com

Vehicles like the EarthRoamer XV-LTS and other off-road, off-grid behemoths are among the big draws of Overland Expo West, but not everyone has the will or means for such a massive global wanderer – fun to gawk at, not necessarily relevant to your immediate or future travel plans. More practical are the legions of off-road trailers, camper vans and roof-top tents that pop up (often literally) at every corner of the show. This year's show had plenty of trailers and a broader field of camper vans and roof-top tents than we've seen in the past. These compact, mobile shelters will get you every bit as far off the grid as huge, diesel-truck-based expedition vehicles, but they'll keep size and pricing down. The idea of leaving routine, 9-to-5 life behind to travel and live out of a van has captured the US imagination in the Van life movement that's been intensifying over the past few years. And why wouldn't those types of nomads, who carry an unquenchable thirst for adventure and new experiences, want to hang a left off the highway and rumble over rock and dirt toward less-explored corners of the world once in a while? Why wouldn't they want a 4x4 van, maybe a fully ruggedized adventure van with tons of aftermarket love? If the increasing buzz around camper vans at this year's Overland Expo West is any indication, some of the rootless van-campers want just that. Ruggedized, 4WD camper vans have been a part of the OX show for as long as we've been attending, with brands like Sportsmobile highlighting how basic cargo and passenger vans can become go-anywhere adventure campers. This year, though, new brands and camper van designs seemed to be lurking down every aisle, and rental van services were also well represented. Building a proper expedition camper van all starts with getting the right base van. The Mercedes Sprinter has fast risen in popularity due to the fact Mercedes opened up the 4x4 option to the US market starting with the 2015 model year. Van converters can now take delivery of a Sprinter 4x4 without having to equip it with an aftermarket 4WD solution, the way they have to do with other vans. With four powered wheels running the show, aftermarket brands can have fun doing what they like to do – dressing the Sprinter up in the kinds of ruggedized components you'd expect to find on a fully kitted 4x4 or truck. Overland Expo hosted a number of off-road van component brands, but Roambuilt was one we had been waiting to check out for nearly a year, as it had been hosting a placeholder "coming soon" web page for at least that long. The actual full website launch keeps getting pushed back, and owner Cec Annett explained he's striving to get all his production ducks in a row before going fully live, ensuring that he's able to fulfill orders, not just take them. Annett has every reason to expect that the orders will roll in, having started Roambuilt in response to the enthusiastic inquiries he was receiving while driving around in his own Sprinter, dressed up in components he self-designed with help from a local welder. Other people clearly shared his vision for van design, so he launched Roambuilt, tapping into the branding and product development experience he cultivated in a career that saw him co-found The Clymb outdoor gear discounter and work as an Adidas VP. Roambuilt will offer a line of Sprinter accessories like ruggedized bumpers, skid plates, roof racks, ladders and more. Its Sprinters were definitely among the most rugged and memorable of the show, so we can see why would-be customers are anxiously awaiting the full launch. We originally thought that Roambuilt was planning to do full camper conversions, but we learned it's focused solely on exterior components, leaving interior work up to the owner or a few interior conversion shops it's teamed with. We had a chance to tour the work of one of those partners, North Vancouver-based custom van shop Nomad Vanz (not to be confused with British VW van converter, Nomad Campervans). We looked at its Mud Men, the Betty Edition, a van combining nostalgic design inspired by the Mad Men era with a healthy love for modern-day mud and dirt. The Mud Men's interior caught our attention immediately with the blue plaid of the VW tartan upholstery, glossy laminate furniture and surfy teak wood. A closer look revealed a kitchen with a cooktop piped to the diesel tank of the base Sprinter, a 200-watt solar panel-backed electrical system with lithium-ion storage, a Webasto heater, a cassette toilet, a rear platform bed, and a folding two-seat bench good for sleeping two kids. Between the bed compartment wall and the rear double doors, a bicycle garage holds three bikes, a built-in air compressor, and the "ground control" system with plumbing, heating and electrical equipment. It's a van that challenges occupants to play hard before retiring to their cozy mobile abode. Last year saw an explosion of new trailers at both Overland Expo West and East. Trailers didn't seem to have quite as dominating a presence at this month's show, but there were still some new faces around, including one of the latest overseas brands breaking into the US market, Australia's Patriot Campers. Short of launching big toy-hauling campers like the TH610, Patriot brought two of its smaller staple models to the show, including the multi-award-winning X1. The X1's electrical and safety equipment has been reworked for the US, and the trailer has been certified to US standards. It rides on a galvanized interlocked chassis and utilizes a standard airbag suspension for on/off-road versatility and easy campsite leveling. The X1 has a monocoque aluminum body and a variety of cabinets, drawers, slides and fold-outs, and standard and optional equipment includes a trailer-top tent, add-on kids' dual-bunk tent, slide-out kitchen, heat and hot water system, 150 W folding solar blanket, AGM or lithium-ion battery storage, Bluetooth stereo system, and generously sized awning fanning out over the kitchen side and rear. Prices start at US$33,990, and Patriot is also offering the smaller X2 starting at $22,295. Truck canopies and bed campers were popular in 2016, with models like the Tacoma Habitat and EarthCruiser GZL making debuts at Overland Expo. Both of those truck campers were shown in expanded lineups at OX West 2017, sized up for larger full-size pickup trucks. We also came across an entirely different breed of truck bed camper. Combining the advantages of a truck topper, open pickup bed and pop-up camper, the Topper EZLift system lifts a pickup topper (sold separately) straight up with a push-button electrical system wired to the truck's 12 V battery. This allows for hauling oversized gear like ATVs and motorcycles without having to remove the topper completely and also creates space for camping, space the Minnesota-based company fills with its own line of fabric camper packages. Each package includes ventilated side windows, and insulation is available at extra cost. A Topper EZLift with camper package starts at $2,400, as currently advertised on the company's website. Hot on the heels of our first roof-top tent camping excursion, we took in all kinds of new RTT names, models and designs at Overland Expo. Tepui showed the aluminized fabric designed to turn its Baja tent into a cold-weather shelter, and iKamper previewed its Skycamp expandable hard-shell tent for both general attendees and the early supporters who helped it raise $2.4 million on Kickstarter just months ago. One roof-top tent that we hadn't previously seen in person, the Eezi-Awn Stealth (pictured below) has a design so slick we might even call it sexy, not an adjective we're used to using for roof-top tents. The tent's matte-black powder-coated aluminum body and sharp lines give it an almost aeronautical look, while total weight comes in at 220 lb (100 kg). The unique elevated shape of the roof is designed to add space for stored bedding. Salt Lake City-based Equipt Expedition Outfitters is South Africa-based Eezi-Awn's US distributor and sells the Stealth for $3,900. In the coming days and weeks, we'll be looking at a few more standout camper vans, trailers, roof tents and pickup campers from OX West 2017. In the meantime, you can have a look at the accompanying photo gallery to see the entire field of products we checked out.


News Article | May 8, 2017
Site: www.prnewswire.com

Leverton continued, "Additionally, we continue to invest in growth and technology initiatives to advance our brand and enhance the experience we deliver to our guests. During the first quarter of 2017, we implemented PlayPass in 87 additional venues. Recently we decided to expand our test of Order Service Kiosks to four additional markets and expand our test of table-side ordering tablets to 50 additional venues. Finally, we successfully opened an additional new Peter Piper Pizza venue during the first quarter, bringing the total to five new Company-operated Peter Piper Pizza venues since the third quarter of 2016, while our franchisees opened three new Chuck E. Cheese's international locations during the quarter. Looking forward in 2017, we expect to complete the PlayPass implementation nationwide and expand our Peter Piper presence further, while continuing to further refine our food and entertainment offerings and continually enhance our in-store experience." Comparable venue sales for our Company-operated venues decreased 2.8%. Company-operated venue sales for the first quarter of 2017 were negatively impacted by a delay in income tax refunds to much of our core customer base. Company-operated venue sales were also negatively impacted by approximately $4.7 million of incremental deferred revenue when compared to the first quarter of 2016, resulting from the implementation of our proprietary PlayPass card system. Total revenues decreased $9.4 million to $265.0 million during the first quarter of 2017 compared to the first quarter of 2016. Before the impact of incremental deferred revenue related to PlayPass, total revenues decreased $4.7 million. The Company reported net income of $17.2 million for the first quarter of 2017, compared to net income of $17.9 million for the first quarter of 2016. The decrease in net income was driven by the decrease in Company-operated venue sales and the impact of incremental deferred revenue, offset by improved Company-operated venue cost margins and lower general and administrative expenses. During the first quarter of 2017 Adjusted EBITDA increased $1.0 million, or 1.3%, to $83.5 million compared to the first quarter of 2016. As of April 2, 2017, cash and cash equivalents were $94.9 million, and the principal outstanding on our debt was $1.0 billion, with net availability of $140.1 million on our undrawn revolving credit facility. During the first quarter of 2017, we had capital expenditures of $23.9 million, of which $9.2 million related to our PlayPass initiative and another $4.3 million related to other growth initiatives. In addition, we had $2.1 million in capital expenditures related to IT initiatives. As of April 2, 2017, the Company's system-wide portfolio consisted of: The Company will host a conference call beginning at 9:00 a.m. Central Time on Tuesday, May 9, 2017. The call can be accessed by dialing (855) 743-8451 or (330) 968-0151 for international participants and conference code 14882224. A replay of the call will be available from 12:00 p.m. Central Time on May 9, 2017 through 11:00 p.m. Central Time on May 16, 2017. The replay of the call can be accessed by dialing (800) 585-8367 or (404) 537-3406 for international participants and conference code 14882224. For 40 years, CEC Entertainment has served as the nationally recognized leader in family dining and entertainment with both its Chuck E. Cheese's and Peter Piper Pizza venues. As America's #1 place for birthdays, Chuck E. Cheese's goal is to create positive, lifelong memories for families through fun, food, and play and is the place Where A Kid Can Be A Kid ®. Committed to providing a fun, safe environment, Chuck E. Cheese's helps protect families through industry-leading programs such as Kid Check®. As a strong advocate for its local communities, Chuck E. Cheese's has donated more than $14 million to schools through its fundraising programs and supports its national charity partner, Big Brothers Big Sisters. Peter Piper Pizza, with its neighborhood pizzeria feel, features dining, entertainment and carryout. The solution to 'family night out', Peter Piper Pizza takes pride in delivering a food first, parent friendly experience that reconnects family and friends. Expanding nationally, Peter Piper Pizza recently opened locations in Oklahoma, Nevada and Las Vegas featuring an all new prototype design.  As of April 2, 2017 the Company and its franchisees operated a system of 606 Chuck E. Cheese's and 145 Peter Piper Pizza venues, with locations in 47 states and 12 foreign countries and territories. For more information, visit chuckecheese.com and peterpiperpizza.com. This press release contains forward-looking statements, which involve risks and uncertainties. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. All statements other than statements of historical facts contained in this press release, including statements regarding our strategy, future operations, objectives of management and expected market growth, are forward-looking statements. Forward-looking statements are made based on management's current expectations and beliefs concerning future events and, therefore, involve a number of assumptions, risks and uncertainties, including the risk factors described in Part I, Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended January 1, 2017, filed with the Securities and Exchange Commission on March 16, 2017. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ from those anticipated, estimated or expected. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including but not limited to: These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause our results to vary from expectations include, but are not limited to: The forward-looking statements made in this press release reflect our views with respect to future events as of the date of this press release and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, undue reliance should not be placed on these forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release and, except as required by law, we undertake no obligation to update or review publicly any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this report. We anticipate that subsequent events and developments will cause our views to change. Our forward-looking statements do not reflect the potential impact of any future acquisitions, merger, dispositions, joint ventures or investments we may undertake. We qualify all of our forward-looking statements by these cautionary statements. CEC ENTERTAINMENT, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) (in thousands, except percentages) Certain financial measures presented in this press release, such as Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") and Adjusted EBITDA as a percentage of revenues ("Adjusted EBITDA Margin") are not recognized terms under accounting principles generally accepted in the United States ("GAAP"). The Company believes that the presentation of these measures is appropriate to provide additional information to investors about certain material non-cash items and about unusual items that the Company's management does not expect to continue at the same level in the future, as well as other items. Further, the Company believes that these measures provide a meaningful measure of operating profitability because the Company's management uses them for performance evaluations and compensation measures for the Company's executives, to supplement GAAP measures of performance in the evaluation of the effectiveness of the Company's business strategies, to make budgeting decisions and to compare the Company's performance against that of other peer companies using similar measures. The Company also presents Adjusted EBITDA because it is substantially similar to Credit Agreement EBITDA, a measure used in calculating financial ratios and other calculations under our debt agreements, except for the Change in deferred amusement revenue. By reporting Adjusted EBITDA, the Company provides a basis for comparison of its business operations between current, past and future periods by excluding items that we do not believe are indicative of our core operating performance. The Company's definition of Adjusted EBITDA allows for the exclusion of certain non-cash and other income and expense items that are used in calculating net income from continuing operations. However, these are items that may recur, vary greatly and can be difficult to predict. They can represent the effect of long-term strategies as opposed to short-term results. In addition, certain of these items can represent the reduction of cash that could be used for other corporate purposes. These measures should not be considered as alternatives to operating income, cash flows from operating activities or any other performance measures derived in accordance with GAAP as measures of operating performance, or cash flows as measures of liquidity. These measures have important limitations as analytical tools, and users should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. Because of these limitations, the Company relies primarily on its GAAP results and uses Adjusted EBITDA and Adjusted EBITDA Margin only supplementally. The following table sets forth a reconciliation of net income to Adjusted EBITDA and Adjusted EBITDA Margin for the periods shown: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cec-entertainment-inc-reports-financial-results-for-the-2017-first-quarter-300453621.html


News Article | June 25, 2017
Site: www.prweb.com

The Council for Exceptional Children (CEC) and the Center for Collaboration for Effective Educator Development, Accountability and Reform (CEEDAR) announce the creation and release of a set of high-leverage practices (HLPs) for special educators and teacher candidates. HLPs are educational practices that all special educators must master before they begin teaching. The selected practices―in the areas of collaboration, assessment, social/emotional/behavioral, and instruction―are used frequently in classrooms and have been shown to improve student outcomes. “This is really going to reform how teacher candidates are prepared," says CEC President Mikki Garcia. Teacher preparation programs recently have struggled to keep up with increased demands for instructional content, an evolving understanding of the complexity of why learners struggle, and new research surrounding evidence-based practices. CEEDAR Director Mary Brownell explains that, in light of these changes, teacher preparation programs needed guidance regarding which practices are most effective. "Programs have only so much time to educate new teachers," she says. "As a profession, we needed to establish a baseline for what every teacher must know and be able to do." There is general agreement in the field of special education that teacher preparation should focus more explicitly on instructional practice, Brownell says. "Colleges and state departments of education know they need to reform how they prepare and license teachers. We need to be sure we have capable teachers in every classroom who have had consistent and adequate training and practice." She also noted the relevance of the HLPs for general education teachers as well as special educators. "We hope the HLPs can help to reform practice in general education in ways that will better prepare general education teachers for their work in inclusive classrooms or as co-teachers." The HLP writing team that identified and distilled the list of practices included special education practitioners, scholars, preparation faculty, and advocates who were appointed for their knowledge and expertise around both the reform of teacher preparation and the evidence base behind the practices in question. "These are the best thinkers in our membership," says Garcia. CEC and CEEDAR plan to disseminate the HLPs widely, sharing them with CEC members, institutes of higher education, state departments of education, certification and licensure bodies, state governors, members of Congress, and associations and organizations. The CEC publication “High-Leverage Practices in Special Education” was released in April 2017 and is available for sale through the CEC Catalog. Continue to follow updates and developments on highleveragepractices.org. Learn more about the Council for Exceptional Children at http://www.cec.sped.org.


Grant
Agency: Department of Agriculture | Branch: | Program: SBIR | Phase: Phase I | Award Amount: 100.00K | Year: 2014

The project focuses on making solar energy affordable to meet the basic energy needs for low-income, rural households. By focusing on solar energy as the source, this project addresses the societal challenge area relating to global change & amp; sustainable energy.Our goal is to substantially reduce the system cost to address essential energy needs, providing on the order of 10kWh per day with energy storage to operate after the sun goes down or on cloudy days. Essential energy needs are divided between electrical and thermal loads. Thermal loads include space and water heating as well as space cooling. Electrical loads include lighting, communications, cooking and computers as well as controllers and DC pumps for the thermal loads. By reducing the size of the loads, smaller solar photovoltaic and thermal systems can be used to meet the needs at a lower overall cost.If successful, the project will introduce new products that will create jobs and increase rural economic opportunities. Societal-impacting climate change is addressed through reduced dependence on fossil fuels and reduced greenhouse gas emission for meeting basic energy needs.

Loading Cec Inc. collaborators
Loading Cec Inc. collaborators