Cedar Fair posts fourth quarter and full-year results

Cedar Fair has released its fourth quarter and full-year performance results for the period ending December 31, 2009, which show that the company is still being affected by the global economic crisis.

Full-year results

Cedar Fair's full-year revenues and net income were $916.1 and $35.4 million respectively.

EBITDA (earnings before interest, taxes, depreciation and other noncash items) decreased 15.7 per cent to $299.9 million from prior year results.

Attendance for this period dropped to 21.1 million, representing a fall of 7 per cent.

Per capita spending figures also fell, with a drop of 1 per cent recorded.

However, various cost-saving initiatives helped the company cut down their operating costs by 3.8 per cent.

Fourth quarter results

Net revenues for this period decreased to 105.6 million, representing a drop of 11.5 per cent.

EBITDA for this period fell to $3.8 million, down from $21.3 million.

An attendance drop of 12 per cent was partly responsible for the poor net revenues performance.

Photo: Carowinds