Six Flags revenue up, attendance flat

Posted Thursday, June 7, 2007 9:40 AM | Contributed by Jeff

Six Flags revenue is up 5% over last year due to an increase of per capita spending by 3% and sponsorship revenue. Attendance was flat.

Read more from AP via Yahoo.

Thursday, June 7, 2007 9:41 AM
Jeff's avatar I'm surprised that they didn't work in the fact that attendance was flat with fewer parks and fewer operating days. That's a good metric.
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Thursday, June 7, 2007 11:02 AM
Probably, saving it for the end of the quarter.
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Thursday, June 7, 2007 12:15 PM
Maybe, they were comparing attendance flat without those parks they don't own anymore. It's too late to judge now if it's going to be a successful year. Last year was a horrible attendance year, so for it be flat like last year isn't that good. In my opinion, it's always good to not lose people whatever you are charging. It's hard keeping people. It's great that there per cap is higher, but they are still not gaining more people which is bad. If your not gaining people, it's easier to go down than to go up.
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Thursday, June 7, 2007 1:16 PM
Jeff's avatar If it was a "same park" basis, I'm sure they would've said so. It's a public company. People go to jail for misrepresenting the business.
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Thursday, June 7, 2007 3:13 PM
AP abstracted a press release, rather than printing the whole thing. Here is the Six Flags release. It is flat on fewer operating days, and on a same-park basis. That's still pretty good news.

http://investors.sixflags.com/phoenix.zhtml?c=61629&p=irol-newsArticle&ID=1012521&highlight=
*** This post was edited by Brian Noble 6/7/2007 3:15:34 PM ***

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Thursday, June 7, 2007 3:54 PM
Lord Gonchar's avatar Just reading an article on the SIX stock after this release and found this quote from SMH Capital analyst David Miller:

"Even on flat attendance, repeat visitors are up 15 percent, a testament both to Season Pass volumes and overall guest satisfaction."

I wonder where that info comes from because it's certainly not in the cute little releases we get to see.

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Thursday, June 7, 2007 4:05 PM
rollergator's avatar Jeff said: "If it was a "same park" basis, I'm sure they would've said so. It's a public company. People go to jail for misrepresenting the business."

But even AP doesn't always get the facts TOTALLY squared away and properly checked for accuracy. If there are factual errors, I'd be tempted to look first at the writing, then at the source. For exactly the reason you mentioned.

Also, I'm kinda surprised there wasn't a bigger increase in sponsorship revenue.

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Thursday, June 7, 2007 5:29 PM
Jason Hammond's avatar rollergator said: "But even AP doesn't always get the facts TOTALLY squared away and properly checked for accuracy."

That's Crazy Talk!

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Thursday, June 7, 2007 6:04 PM
Not to rain on the parade (as I always do with good SIX news :) )...but where is the mention of expenses? There is no doubt that 5% revenue increase is a good thing...but won't look so good if expenses are up 10%.

...I'll admit that things are starting to look better IF they can get the expenses and debt under control to actually turn a profit.

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Thursday, June 7, 2007 6:17 PM
Im glad to hear that. Six Flags is finally getting their act together. Their doing something that Cedar Fair cant which is hold attendance and not make excuses. Congrats again.
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Thursday, June 7, 2007 9:32 PM
“we are getting more strollers and less tattoos”. That is a quote from Shapiro I found on another website. Im going to have to disagree with him. I was at Great Adventure today (6/7) and the crowds were just as bad if not worse than previous years. The language I heard and the general disrespect for others was everywhere. I even heard a grandmother calling 6-7 boys m-fers because they wanted one last ride before they had to catch their bus. Not to mention that all 3 kiddie lands had little to no lines.

Maybe its because I am a father now and this was my sons first trip there, but today I noticed more ignorant patrons than before. I will say that they are trying. Security got into more than a few arguements with guests over their language and general lack of resect. The park looks great as well. Better than I have seen it and Ive been going there since 1993.

I made the comment to my wife that this really isnt some place I would take my son reguarly.

On a side note, my toddler made me power ride the Wiley Coyote coaster like 6 times in a row :)

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Friday, June 8, 2007 9:41 AM
JRS: with fewer operating days, I'd be awfully surprised if costs didn't go *down*. Up seems very unlikely.
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Friday, June 8, 2007 1:45 PM
Jeff makes his typical negative posts, is wrong and does not respond. What a surprize. This thread is doomed to be locked or dealted soon.
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Friday, June 8, 2007 10:45 PM
Jeff's avatar What the hell are you talking about?

Some people around here need to get out now and then, and actually go to theme parks instead of talking about them. I can see The Incredible Hulk from my window right now. What can you see?

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Monday, June 11, 2007 10:51 AM
I agree with you, Jeff: WHAT IS GOING ON HERE? I've read your posts, and they are NOT negative.
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Monday, June 18, 2007 4:38 PM
Well, watchout for signs of weakness. Six Flags Over GA not only cut number of days from the schedule but also shorten the daily hours. Now in peak of summer, in Hotlanta, where there is daylight until 8:30 pm. the park closes at 7:00 pm. Parents who used to bring their kids after work to the park and make it an evening are skiping. Folks from south GA and Birmingham are driving back. They are not spending money in the park.

It seems in order to cut labor cost they looked at the entry turnstile but ignored real consumer focused group. It might have been a wioser decision to start the park at 12 noon and close at 9PM instead of 7PM. This will impact long term revenue in season passes as well as in park spening.

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