But the chain's diminishing cash flow concerns analysts, especially after the company reported in a new Securities and Exchange Commission filing that it had $5.4 million on hand at Dec. 31, 2000, down from $14.1 million in the comparable 1999 period.
Still, Planet Hollywood officials remain confident its three revolving lines of credit will support its reorganization plans. The firm had used $4.1 million of $16.8 million available at year end 2000, according to the SEC filing.
Revenue in 2000 totaled $175.9 million, down from $280.9 million in 1999. Net income was $90.3 million or $1.99 per share.
The fourth-quarter loss of $18.2 million or $1.83 per share on revenue of $39.37 million compared with a loss of $62.2 million or 57 cents a share on revenue of $48.8 million the previous year. Despite the losses, the company raised prices by 9%, bringing the average customer's check to $16.09.
Planet Hollywood is still trying to sell the lease rights to its All Star Cafes in Miami and Myrtle Beach, SC.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more information visit Asset & Logo Licensing.
