Posted
Cedar Fair, L.P. today announced results for the second quarter ended June 25, 2006. The second quarter results exclude operating results of the five Paramount Parks, which were acquired on June 30, 2006. Net revenues for the quarter, decreased 2% to $145.4 million from $148.9 million in 2005, while net income decreased $1.2 million to $11.1 million, or $0.20 per diluted limited partner unit, compared to net income of $12.3 million, or $0.22 per unit, a year ago. Adjusted EBITDA, which management believes is a very meaningful measure of the Partnership’s park-level operating results, decreased $1.8 million to $38.1 million versus $39.9 million for the same period in 2005. Adjusted EBITDA represents earnings before interest, taxes, depreciation and other non-cash items.
Read the press release from Cedar Fair.
I just wonder when what is now Geauga Lake will become phase III of the shopping center. If Cedar Fair keeps having these poor results, it is only a matter of time.
I really hope that they save the Big Dipper though, as that ride is a classic. Maybe they could theme the shopping center around the ride...
-Sam
If August, Sept, October can be "normal, things should be fine.
Geauga Lake just hasnt drawn jack most of the year, besides when i was there last sunday. I would hope there were more days when i had to park near the booths for parking. Its intresting to say the least, i know nothing of the weather or other factors with dorney, but these three parks were the mentioned ones, so to blame it on the weather could be a few days at CP, but Geauga Lake doesnt always get that weather, and im sure dorney doesnt either, so that excuse could be moot at this point.
Im not worried to say the least, but they certainly will lose a bit more for the next quarter because the haunt is dead at geauga lake, but as i understand revenues werent where they wanted them last year for the event so they scrapped it this year, but it would have still added to the revenue somehow.
The Haunt was mainly in the beginning of the fourth quarter so I'm interested in seeing how July, August, September will be for the park.
X Factor
But the Geauga Lake turnaround is finally starting to take hold. People are starting to figure out that it isn't Six Flags anymore.
--Dave Althoff, Jr.
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