Universal attendance and profit down in third quarter

Posted | Contributed by Jeff

The parent company of Universal Studios theme parks in Orlando, California and Japan said this morning that attendance at the resorts continued to struggle during the third quarter but that it was able to partially offset the declines with continued cost-cutting. General Electric Co. said operating profit at its theme parks was down 14 percent for the quarter, underscoring the pressure the parks remain under amid the global recession. In a conference call with investors, GE Vice Chairman and Chief Financial Officer Keith Sherin called the decline "expected in this environment."

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