July 15, 2004
Oklahoma City, OK -- Six Flags, Inc. reported that attendance at its theme parks and water parks for the first six months of 2004 is down 4.1%, but park-level per capita spending is up 3.3%. Attendance totalled 12.77 million compared to 13.31 million for the same period a year ago. For the six months ended June 30, 2004 revenues will be approximately $400-402 million, down $3-5 million from the 2003 period.
"While our performance in the initial part of our season has been uneven, we were generally tracking slightly ahead of prior year through mid June. However, we experienced a sharp decline in the last two weeks of June," said Kieran E. Burke, Chairman and Chief Executive Officer. "In addition, we were negatively affected by the later Memorial Day holiday which resulted in significantly fewer operating days in the 2004 period."
Burke also blamed adverse weather in some regions for a decline in attendance, but noted that weather in the Northeast was better than last year.
"The attendance shortfalls we have experienced have been offset somewhat by very strong per capita spending growth through June 30," said Burke.
Burke noted, "We have seen improved performance since the end of June, with performance since June 30 reflecting attendance in line with prior year, a per capita spending increase of 0.8% and a revenue increase of 0.5% in the period from July 1 through July 13.
Six Flags expects to benefit from additional operating days in the last week of August and the first week of September due to the later occurrence of the Labor Day holiday.