GENERAL CINEMA &lt;GCN> POOR SEASON LOWERS NET

  General Cinema Corp said
  lower attendence at its theatres against last year's record
  Christmas season lowered its first fiscal quarter operating
  earnings nine pct to 15.9 mln dlrs.
      "While we are not off to as good a start in fiscal 1987 as
  we would like, business has picked up in the last few weeks,"
  chairman Richard Smith said.
      He said that the company expected net pricing to be higher
  and unit volume to improve in the remaining quarters of the
  fiscal year.
      The company added that operating earnings in its theatre
  unit will be higher in fiscal 1987 if the important summer
  season film releases perform well.
      In addition, its other key business, General Cinema
  Beverages, is expected to achieve record operating results for
  the full year, Smith said.
      The company's superstar video business which rents video
  cassettes in supermarkets continues to operate at an expected
  loss, the company added.
      General Cinema said the financing costs associated with its
  purchase of 3.5 mln Carter Hawley Hale Stores Inc &lt;CHH> shares
  for 177.9 mln dlrs, and its 89.7 mln sterling investment in
  &lt;Cadbury Schweppes PLC>, lowered first quarter net.
      But it said the loss was offset by a 2.5 mln dlr gain on
  the sale of common shares of Sea-Land Corp, a unit of CSX Corp
  &lt;CSX>.
  

