Good News for Six Flags, Quarterly Profits up 60 percent

[sir clinksalot]

Looks like the economic down-turn hasn't hit local amusement park chain Six Flags yet. The company had a very successful summer. With the economy only looking to get worse, local amusement parks may have a leg up with loyal fan-bases and short drives for locals.

Six Flags' quarterly profit up 60 percent | Business | Star-Telegram.com

More people flocked to Six Flags this summer and spent more money in the parks as the company reported a 60 percent increase in its third-quarter profit.

Six Flags said net income grew to $143.4 million, compared to $89.6 million in the same period last year.

Revenues also rose 5 percent to $489.3 million, up from $464.2 million in the third quarter of 2007.

The New York-based theme park chain said 200,000 more guests visited their parks during the summer, taking advantage of the company's promotion where everyone paid kid's price.

"The key to this year's success has been the value proposition of our theme parks, enabling us to stand out and thrive in what is an extremely challenging economic climate for consumers," said chief executive Mark Shapiro in a statement Monday morning.

[sediment]

Meh. They aligned the price with the product's value.
Interesting that it dropped about $40 milion in expenses. Not sure if this was a change in debt restructure or actual park expenses.