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Business Briefing / EARNINGS

Six Flags swings to profit on gain

August 05, 2008|From Times Staff and Wire Reports

Amusement park chain Six Flags Inc., operator of Magic Mountain in Valencia, reported an unexpected second-quarter profit on a gain from paying off $107.7 million in debt.

Including discontinued operations, Six Flags' net income was $94.6 million, or 63 cents a share, contrasted with a loss of $45.4 million, or 54 cents, a year earlier. The New York-based company's sales were little changed at $345.7 million, topping analysts' average projection of $344.3 million.

Total attendance fell 3% to 8.6 million.

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