ThrillNetwork.com :: Cedar Fair lowers revenue projections

Finance: Cedar Fair lowers revenue projections

By James R

Sep. 9th, 2006 -- Cedar Fair L. P. lowered its 2006 earnings forecast due to falling attendance and other factors.

Cedar Fair has announced that they have lowered their full-year revenue expectation of between $835 million to $855 million to their new estimation of $815 to 835 million. This estimate includes the newly acquired Paramount Park operations.

According to the company, the expected EBITDA (earnings before interest, taxes, depreciation and amortization) is to be between $285 million to $305 million.

The company also reported that attendance at its park through the Labor Day weekend had decreased 1 percent to 10.4 million guests from 10.5 million a year. The company blames tough economic situations for the lowered attendance.

Cedar Fair also announced plans for the addition of a new roller coaster at Cedar Point.

Related story: Cedar Point announces Maverick

For further information, visit Crain's Cleveland Business.