News: Cedar Fair announces third quarter results

Posted at 2:37 AM EST (0737 GMT)

Nov. 2nd, 2006 -- Cedar Fair recently announced its results for the third quarter of 2006, the first quarter since acquiring Paramount Parks. The company reported a profit of $132.9 million, a decrease of 22 percent from the same period last year. The company attributed the decrease to a 68-percent increase in costs to $256.6 million.

Despite the drop in profits, total revenue increased from $317 million to $542.1 million during the quarter that ended Sept. 24, a rise of 71 percent. In the report, Cedar Fair president Dick Kinzel also reported an improvement in fall attendance. The company expects to make between $815 and $835 million for the full year.

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