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Six Flags sees slight growth

Posted: August 5, 2008 9:04 p.m.
Updated: October 7, 2008 5:02 a.m.

Six Flags, Inc., owner of the Magic Mountain and Hurricane Harbor theme parks in Valencia, reported a slight increase in total revenues, but dip in total attendance for its second quarter, according to a statement released Monday.

According to the information from the New York-based company, Six Flags, Inc. reported total revenues of $345.7 million, a 1 percent increase over the prior-year quarter.

For the second quarter, which ended June 30, attendance declined 3 percent to 8.6 million.

The company attributes the decrease to the timing of Easter, which was in the first quarter of 2008 as opposed to the second quarter of 2007. On a year-to-date basis, attendance through the second quarter was unchanged at 10.1 million.

The company's revenue growth for second quarter reflected a growth in sponsorship, licensing and other fees, which increased to $14.5 million, a $5.2 million growth over the previous year.

Six Flags, Inc. reported that its net results from continuing operations improved by $150.7 million to income of $108.7 million from a loss of $41.9 million from the second quarter of 2007.

For the first half of 2008, Six Flags, Inc. reports total revenues increased $19.6 million, or five percent, to $413.9 million from $394.3 million in the same period last year.

"Our performance reflects the growing momentum behind this company after two years of repositioning our brand and reinventing the guest experience," said Mark Shapiro, president and chief executive officer of Six Flags, Inc. in a statement. "While we still have a considerable portion of our season in front of us, I'm encouraged by the results, especially in the current economic climate."


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