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SIX FLAGS ANNOUNCES FULL-YEAR AND FOURTH QUARTER 2009 RESULTS
New York, NY March 5, 2010 Six Flags, Inc. (OTCBB: SIXFQ) announced today its consolidated operating results for the year and quarter ended December 31, 2009.(1)
Twelve Month Results
Revenue in 2009 totaled $912.9 million compared to $1.02 billion in 2008, representing an 11% decrease. The decrease is attributable to a 1.5 million (6%) decrease in attendance coupled with a $1.94 (5%) decrease in total revenue per capita (representing total revenue divided by total attendance). The attendance reduction was driven by a decline in group sales, reflecting cutbacks in outings by companies, schools and other organizations, as well as reduced complimentary and free promotional tickets. The reduction in total revenue per capita reflects decreased guest spending on admissions, food and beverages, games and merchandise and other in-park offerings, as well as decreased licensing and other fees.
Per capita guest spending, which excludes sponsorship, licensing and other fees, decreased $1.39 (4%) to $36.58 from $37.97 in 2008. Admissions revenue per capita decreased $0.53 (3%) in 2009 compared to the prior year, and was driven by the exchange rate impact on admissions revenue at the Companys parks in Mexico and Canada ($0.27) as well as price and ticket mix (i.e. season pass, main gate, group sales and other discounted or complimentary tickets). Decreased revenues from food and beverages, games, retail, and other in-park
The following information was filed by Six Flags Entertainment Corp (SIX) on Friday, March 5, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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