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Six Flags announces first quarter 2012 revenue

up 8% to $66.4 million

Update : 27/04/12 - 18h07 Published by François Mayné the 25 April 2012, Corporate.

Six Flags Entertainment Corporation, the world's largest regional theme park company, announced today that first quarter 2012 revenue grew 8 percent or $5 million over prior year to $66.4 million (about €50.36 million), while Adjusted EBITDA* for the same three-month period improved by $3.5 million to a $45.6 million (€34.6 million) loss. For the last twelve months, Adjusted EBITDA reached $354 million (€268.5 million) while Modified EBITDA* margin improved to 37.6 percent, a record high for the company.

"I am pleased to report our eighth consecutive quarter of EBITDA growth," said Jim Reid-Anderson, Chairman, President and CEO. "As we enter the heart of our operating season, we look forward to introducing even more world-class rides and attractions at each of our parks. We are well-positioned to deliver another excellent year for our guests, employees and shareholders."

On a constant currency* basis, revenue grew 10 percent with approximately 5 percent of the growth due to attendance and pricing improvements, and 5 percent due to the settlement of business interruption insurance proceeds related to Hurricane Irene, totaling $3.0 million.

Total guest spending per capita grew $3.14 or 8 percent with admissions revenue per capita increasing $2.10 or 10 percent to $22.72. In-park per capita revenue increased $1.04 or 6 percent in the quarter and attendance grew 1.5 percent. On a constant currency basis, and excluding the insurance proceeds benefit, total guest spending per capita increased 4 percent or $1.56 primarily driven by an increase in admissions revenue per capita. Deferred revenue as of March 31, 2012, which is made up primarily of season pass sales, increased $10 million or 18% versus last year.

Cash earnings per share* for the last twelve months was $3.34, an increase of $0.79 as compared to the prior 12-month time period. The company believes cash earnings per share is a meaningful metric given the current $1.1 billion accumulated tax loss carryforward and the net depreciation and amortization impacts relating to fresh-start accounting. The first quarter reported loss per share of $2.11 was an improvement of $0.56 per share as compared to the first quarter 2011.

Net Debt* as of March 31, 2012 was $887 million, compared to $726 million as of December 31, 2011. In the first quarter the company invested $36 million in new capital, net of property insurance recoveries, paid $33 million in dividends, or $0.60 per common share, and repurchased $44 million or 970 thousand shares of its stock.

* For more details, please visit Six Flags investors website.

- - -

Written by François Mayné

François Mayné Publishing Director » Contact Us
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Hong Kong Disneyland Resort
(7 articles found)

Disney to introduce first major Marvel attraction at Hong Kong Disneyland in 2016 read more

When The Walt Disney Company acquired Marvel Entertainment in 2009, its intention was to strengthen its position as a leading global provider...

NEW | Hong Kong Disneyland Resort - Published on October 13, 2013

Disney's theme parks and resorts sign strong financial results with revenues up 7% in Q3 2013 read more

The theme parks and resorts of The Walt Disney Company (TWDC) have once again achieved excellent financial performance in the third quarter of...

CORPORATE | Hong Kong Disneyland Resort - Published on August 11, 2013

Growing quarterly results for theme parks and resorts of The Walt Disney Company read more

The Walt Disney Company (TWDC) published earlier this month its financial results for the first quarter of fiscal year 2013 ended December 31,...

CORPORATE | Hong Kong Disneyland Resort - Published on February 17, 2013

Disney reports revenue of theme parks and resorts up 10% to $12.9 billion for FY 2012 read more

The Walt Disney Company reported that the revenue of its business segment of theme parks and resorts increased 10% to $12.9 billion (approx €9.97 b...

CORPORATE | Hong Kong Disneyland Resort - Published on November 29, 2012

Increase in profits for the theme parks and resorts of The Walt Disney Company in first half 2012 read more

TWDC announced earlier this week the earnings for its second fiscal quarter and six months ended March 31, 2012. The Group reported global revenues...

CORPORATE | Hong Kong Disneyland Resort - Published on May 11, 2012

The Walt Disney Company's Parks and Resorts revenues increased 10% for Q1 of FY12 read more

The Walt Disney Company reported yesterday earnings for its first fiscal quarter ended December 31, 2011. Diluted earnings per share (EPS) ...

CORPORATE | Hong Kong Disneyland Resort - Published on February 8, 2012

Fright tactics cranked up at Ocean Park read more

Ocean Park has some hair-raising figures - and they're meant to frighten Disneyland. It says its visitor numbers shot up 20 percent to 6.5 million between October 1 last year and September 30. It used that time frame - ...

PRESS REVIEW | Hong Kong Disneyland Resort - Published on October 3, 2011

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