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Six Flags' profits rise 35%

1Q saw $68.2M increase in revenues

Posted: May 10, 2008 1:23 a.m.
Updated: July 11, 2008 5:03 a.m.

Thrill-seekers get their kicks on Tatsu, one of Six Flags Magic Mountain's most exciting roller coasters.

 
Six Flags, Inc. announced its first quarter results Thursday, reporting that total revenues of $68.2 million increased 35 percent over the prior-year quarter, while total attendance grew by 19 percent to more than 1.4 million.

The company, which is headquartered in New York City and oversees Six Flags Magic Mountain in Valencia, attributes the increase in attendance to the timing of Easter, which shifted from the second quarter in 2007 to the first quarter in 2008.

The first quarter, which ended March 31, also saw an increase in guest spending across the board, including admissions, food and beverage, rentals, retail, games, parking and other revenues.

The company's net loss from continuing operations improved 7 percent or $11.3 million to $149.9 million from $161.2 million in the prior-year quarter.

"The improvement in our first quarter performance reflects the increasing demand for the high quality, close to home, value proposition Six Flags offers in this tightening economy," Six Flags CEO Mark Shapiro said in a statement. "With a new attraction in every one of our theme parks, we are poised to deliver a memorable experience for the entire family this summer."

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