*Revenue per capita was driven by increased sponsorship revenues, a 7% increase in per capita admissions revenue and a 6% increase in per capita in-park revenues.
*Adjusted EBITDA for the first quarter was a loss of $68.9 million, compared to a loss of $88.2 million in the first quarter of 2006.
*Attendance for the quarter improved 6% to 1.22 million from 1.15 million in the first quarter of 2006. Total revenue per capita for the quarter increased 13% to $41.51 from the prior-year level of $36.59. Per capita guest spending, which excludes sponsorship and other revenues not related to guest spending, increased $2.20, or 7%, to $34.01 from $31.81 in the first quarter 2006
*During the three months ended March 31, 2007, net cash used in operating activities was $99.4 million. Net cash used in investing activities in the first quarter of 2007 was $33.2 million, consisting primarily of capital expenditures. The Company plans on spending approximately $100.0 million on capital expenditures for the 2007 calendar year.
*Shapiro also brought up that Metro at SFMM is being fixed after being SBNO for numerous years (last I heard it was beyond repair), so thats impressive.
"The first quarter of 2007 marked another period of progress for Six Flags. Attendance and revenue per guest both increased relative to a year ago, while corporate alliances continued to play an increasing part of our top-line mix," said Mark Shapiro, Six Flags President and Chief Executive Officer. "While the first quarter historically represents only a small percentage of our annual revenues, our gains were generated on 10% fewer park operating days than in last year's first quarter."
Shapiro added, "We are also pleased with our progress to date on the balance sheet, highlighted by our recently announced debt refinancing and the completion of the seven-park sale process. These initiatives will provide additional flexibility for us to manage our business going forward. The core of our strategy is constant improvement and enhancement of the Six Flags experience for each and every guest, and our house is in order as we gear up for the summer season."
Impressive start for Six Flags, i'd expect attendance and per capita spending will continue to rise.
