Posted Thursday, February 8, 2007 9:07 AM | Contributed by Jeff
Together the combined operations generated full year revenues of $831.4 million, with income before taxes of $126.6 million and net income of $87.5 million, or $1.59 per diluted limited-partner (LP) unit. In 2005, combined revenues for the company were $568.7 million, with income before taxes of $111.6 million and net income of $160.9 million, or $2.93 per diluted LP unit. Included in the 2005 results was the reversal of $62.6 million of contingent liabilities recorded from 1998 through 2004 related to publicly-traded-partnership taxes.
For comparison excluding effects of the acquisition, Cedar Fair’s full year results on a same-park basis yielded adjusted EBITDA of $190.4 million compared with $194.2 million in 2005. The decrease in adjusted EBITDA is the result of a slight decrease in revenues to $566.5 million from $568.7 million a year ago, and a slight increase, or $1.6 million, in cash operating costs to $376.1 million.
Read the full press release from Cedar Fair.