Posted Tuesday, August 1, 2006 9:06 AM | Contributed by Jazma
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.