Six Flags revenue down 7%, attendance down about 1%
Posted November 2, 2009, 8:48P |
Contributed by Jeff
Total revenues of $457.0 million decreased 7% from the prior-year quarter's
total of $489.3 million, primarily reflecting reduced attendance and guest
spending. Attendance for the quarter was 12.0 million, down 1% comparing to
12.2 million in the third quarter of 2008. Although the Company benefitted
from increased single-day ticket and season pass attendance, this was more
than offset by a decline in group sales, reflecting cutbacks in outings by
companies, schools and other organizations, and reduced complimentary and free
promotional tickets.
Per capita guest spending decreased 5% to $36.93 from $38.67 in the third
quarter of 2008, reflecting reduced in-park spending and admissions. Included
in the lower guest spending is the impact of a weaker Mexican peso and
Canadian dollar in the current-year quarter, affecting U.S. dollar translated
results for the parks in Mexico City and Montreal. Exchange rates accounted
for approximately one percentage point, or $0.45, of the guest spending per
capita decline for the quarter compared to the prior year quarter.
Revenues for the quarter also were affected by a decline in sponsorship,
licensing and other fees of $5.5 million compared to the prior-year quarter,
primarily driven by lower international licensing fees.
Read the entire press release on Reuters.