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Mon., 7:25 pm: Amusement park company reports solid year

February 24, 2014
Tribune Chronicle | TribToday.com

Cedar Fair Entertainment Company, which owns and operates Cedar Point Amusement Park in Sandusky and Geauga Lake's Wildwater Kingdom in Aurora, reports increased revenue and net income from a year ago, in its year-end report.

The company, which also owns other amusement parks, reported record full-year net revenues of $1.135 billion, up 6 percent from 2012. Company officials said the increase reflects strong growth in all aspects of its business. Net income was reported at $108.2 million, up $6.3 million from a year ago.

The company reported an average increase in spending of 5 percent by in-park guests, a 2 percent increase in park attendance and a 6 percent increase in out-of-park revenues.

Matt Ouimet, Cedar Fair's president and chief executive officer, called 2013 a "remarkable year."

"We expect this momentum to continue into 2014. Our long-term FUNforward strategy is working well as we experienced solid increases across all aspects of our business this year, including record attendance and in-park guest per capita spending," he said.

 
 

 

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