« Back to the top page
Associated Press

Cedar Fair maintains full-year revenue forecast

The Associated Press09.09.2008
Tags
Comments 0
Like the story? Get Alerts of big news events. Enter your email address

Amusement and water park operator Cedar Fair Entertainment Co. reiterated its full-year revenue outlook in range of analysts' expectations Tuesday as its year-to-date revenue climbed.

The company still expects full-year sales between $990 million and $1.02 billion.

Analysts surveyed by Thomson Reuters predict full-year revenue of $1 billion, with the low end of estimates at $998 million and the high end at $1.01 billion.

Cedar Fair also said its year-to-date revenue is up 3 percent on increased attendance. Sales through Labor Day climbed to approximately $852 million from $831 million as attendance grew 3 percent. Average in-park guest spending and out-of-park revenue was essentially flat.

Chairman, President and Chief Executive Dick Kinzel said in a statement that northern and southern regions were among the best performers due to interest in new rides and attractions as well as better gas prices and favorable weather in July and August.

Cedar Fair shares rose 9 cents to $21.30 in premarket trading.

Copyright 2008 The Industry Standard. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Post new comment

The content of this field is kept private and will not be shown publicly.
Respectful debate is welcome, but comments that are defamatory, indecent, abusive, or in violation of any law will be removed.