Company Maintains All-Time High Guest Satisfaction Ratings
NEW YORK, Aug. 14 /PRNewswire-FirstCall/ -- Six Flags, Inc. (NYSE: SIX)
announced today that with just over two weeks remaining in its full-time
operating season, revenues for its third quarter through August 12, 2008 have
increased approximately 7.6%, or $23.5 million, over the prior-year period on
fewer park operating days. The revenue increase is attributable to attendance
growth of 5.1%, or 407,000, to 8.43 million guests and a 2.4%, or $0.92,
increase in total revenue per capita to $39.55. Guest spending, which
excludes sponsorship, licensing, and other fees, grew by 1.6%, or $0.60, for
the period to $38.56.
The quarter-to-date growth in revenues is on top of the Company's
performance for the first six months of 2008, which included 5% growth in both
revenues and total revenue per capita compared to the first six months of
2007, bringing the Company's year to date revenue growth to 6.1% or $43.1
million.
Commenting on the performance, Mark Shapiro, President and Chief Executive
Officer, said: "This is a terrific start for the quarter and it demonstrates
that the Company's strategic, multi-year commitment to improving the quality
of our guest experience and expanding our core business can bring about
sustained long-term growth."
While the results for the Company's third quarter will ultimately reflect
a loss of two operating days at the end of September at each of its parks
compared to the prior-year quarter, the Company expects to recover the lost
attendance from those days in the fourth quarter, including the benefit of a
favorable Halloween season calendar with the holiday falling on a Friday this
year compared to a Wednesday in 2007.
Guest Satisfaction Results
The Company's commitment to quality is measured by its guest approval
ratings, which for the month of July 2008 -- historically the most significant
month in the operating season -- remained at or above all-time highs,
maintaining or exceeding last year's record scores according to Delta Market
Research, Inc. Guests rated Six Flags highest on safety, park cleanliness and
overall product. These results reflect input from guests at 12 Six Flags
branded locations.
Key areas in which guests rated the performance of Six Flags parks at or
above all-time high levels included:
-- Ride Safety
-- Park Cleanliness
-- Enforcement of No Smoking Policy
-- Enforcement of Code of Conduct Policy
-- Employee Service
-- Speed of Lines
-- Rides the Whole Family Can Do Together
-- Value for the Money
-- Overall Satisfaction
"The quality of our in-park experience and the value of our overall
entertainment offering continue to resonate with our guests, particularly
among those in search of the ultimate regional family outing in the midst of a
difficult economy," said Mark Shapiro, Six Flags President and CEO.
"Six Flags is taking advantage of the unique sampling opportunity in this
environment and restoring faith with our consumer base."
In addition to the specific in-park measurements, 77% of guests stated
that they definitely will recommend Six Flags to a friend.
About Six Flags
Six Flags, Inc. is the world's largest regional theme park company with 20
parks across the United States, Mexico and Canada. Founded in 1961, Six Flags
has provided world class entertainment for millions of families with cutting
edge, record-shattering roller coasters and appointment programming with
events like the popular Thursday and Sunday Night Concert Series. Now 47
years strong, Six Flags is recognized as the preeminent thrill innovator while
reaching to all demographics -- families, teens, tweens and thrill seekers
alike -- with themed attractions based on the Looney Tunes characters, the
Justice League of America, skateboarding legend Tony Hawk, The Wiggles and
Thomas the Tank Engine. Six Flags, Inc. is a publicly-traded corporation
(NYSE: SIX) headquartered in New York City.
Forward Looking Statements:
The information contained in this news release, other than historical
information, consists of forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Securities Exchange
Act. These statements may involve risks and uncertainties that could cause
actual results to differ materially from those described in such statements.
These risks and uncertainties include, among others, Six Flags' success in
implementing its new business strategy. Although Six Flags believes that the
expectations reflected in such forward-looking statements are reasonable, it
can give no assurance that such expectations will prove to have been correct.
Important factors, including factors impacting attendance, such as local
conditions, events, disturbances and terrorist activities, risk of accidents
occurring at Six Flags' parks, adverse weather conditions, general economic
conditions (including consumer spending patterns), competition, pending,
threatened or future legal proceedings and other factors could cause actual
results to differ materially from Six Flags' expectations. Reference is made
to a more complete discussion of forward-looking statements and applicable
risks contained under the captions "Cautionary Note Regarding Forward-Looking
Statements" and "Risk Factors" in Six Flags' Annual Report on Form 10-K for
the year ended December 31, 2007, which is available free of charge on
Six Flags' website http://www.sixflags.com .
About Delta Market Research, Inc.
For over 30 years, Delta Market Research, Inc. has been a
nationally-recognized market research company, and for over 10 years has
researched all aspects of the theme park industry for companies including
Disney and Six Flags. Delta has also conducted research projects for GMAC,
DiTech, Lowes, ConAgra, Rohm and Haas, United Way of America and the NFL.
SOURCE Six Flags, Inc.
CONTACT: Media, Sandra Daniels, +1-212-652-9360
Investors, William Schmitt, +1-203-682-8200
both for Six Flags, Inc.
Web site: http://www.sixflags.com
