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Six Flags posts $62.5 million loss in Q1 2013

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Theme park chain Six Flags posted a $62.5 million loss for the first quarter of 2013, although attendance at the firm's parks was described as "solid".

The first three months of the year are traditionally quiet for Six Flags, with many of its regional parks not opening until the spring. Still, a total of 1.8 million guests visited Six Flags parks during Q1, an increase of 525,000 on last year's attendance. Around half of this has been attributed to earlier spring breaks for schools in certain areas.

Revenue grew to $88 million, a rise of 32 percent over the 2012 figure. CEO Jim Reid Anderson was happy with the numbers, particularly season ticket sales, telling investors: "We’re seeing growth in every single park. There’s nowhere we’re not seeing tremendous improvement. It’s broad-based across the board."

The Six Flags chain consists of 12 theme parks across North America and Mexico, along with a number of associated water parks. The company successfully restructured its debt in order to emerge from bankruptcy earlier in 2010, with a new board of directors being appointed to replace the previous management team. Reid Anderson was subsequently appointed as CEO.

As in 2012, Six Flags will open a new attraction at every one of its park for the 2013 season.


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