Cedar Fair, L.P. today reported that combined attendance at its twelve properties for the month of June increased 1% to 2.22 million guests from 2.20 million a year ago. Over the same period, average in-park guest per capita spending was up 2% and out-of park revenues, including resort hotels, were up 3%, or approximately $400,000. Dorney Park posted a massive boost while Geauga Lake struggled before the new water park opened.
Read the press release from Cedar Fair.
...sounds like a round-about way of saying the weather caused some issues at some parks early in the in the season, no?
Wish I was at Geauga Lake before the waterpark opened to gauge attendance, for the sake of argument. In support of the press release I can say the waterpark does have the most concentration of people, in my opinion.
Here's hoping for a successful season at the park, business-wise.
*** This post was edited by midwave 7/3/2005 2:00:34 AM ***
Dorney achieved an 11% increase in this June's attendance, over the same month last year, so that statement has already occurred.
The "forward looking statement" clause is used because nearly every business extrapolates theories about future performance, based on current (and historical) results in financial performance press releases. Specifically, the forward looking statements contained in this release were:
“With the peak portion of our operating season and nearly 70% of our annual attendance still ahead of us, we remain hopeful that our combined 2005 attendance and revenue goals can still be achieved,” he said.
Kinzel concluded by noting that virtually all of Cedar Fair’s revenues from its seasonal amusement parks and water parks are realized during a 130-day operating period beginning in early May, with the major portion concentrated in the peak vacation months of July and August. Knott’s Berry Farm is open year-round but also operates at its highest level of attendance in the third quarter of the year.
It's pretty much a "CYA" statement provided to companies by the Private Securities Litigation Reform Act of 1995, that protects them from shareholder lawsuits if those "forward looking" statements fall short of expectations for a multitude of reasons...
Joel*** This post was edited by JZarley 7/3/2005 10:11:27 AM ***
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