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Six Flags losses continue
Six Flags Inc has disclosed that its fourth-quarter net loss widened because of lower attendance during the off-season and the writing down of the value of some parks it is selling.
Compared to last year at this time when the company reported a loss of $139 million, or $1.55 per share, the company now reported a net loss of $189.7 million, or $2.07 per share. Excluding results from parks it is selling, Six Flags reported a loss from continuing operations of $1.12 per share.
Revenue was flat at $104 million for the quarter, while attendance at its parks fell 16 percent to 2.7 million from the same quarter a year ago. But chief executive Mark Shapiro expects improvement this year, citing season pass sales up 32 per cent over the same time last year.
