Six Flags Inc. Financial News

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Just in case anyone is interested.

 

From: timesunion.com

 

Six Flags Inc.

First published: Monday, September 8, 2008 NYSE: SIX Headquarters: 1540 Broadway, New York

 

Founded: Dates to 1961

 

Activities: Operates 20 regional theme parks and two standalone waterparks in the U.S., Mexico and Canada, including The Great Escape & Splashwater Kingdom on Route 9 in Queensbury.

 

Employees: 2,200 full-time; seasonally, it hires up to 34,000. Locally, about 1,200 seasonal and 64 full-time employees work at The Great Escape and the 200-suite Six Flags Great Escape Lodge & Indoor Waterpark, also on Route 9.

 

Performance: Six Flags stock underperformed the Standard & Poor's Midcap 400, the S&P 500, and the S&P Movies and Entertain- ment indexes over a five- year period. A $100 investment in Six Flags in 2002 fell to about $25 by year-end 2007; the same investment rose slightly to about $125 on the movies index, to about $160 on the S&P 500 and to about $200 on the S&P Midcap.

 

Special notes: In March, the company signed a deal with Tatweer Dubai LLC to create a Six Flags-branded theme park in Dubai, United Arab Emirates. Six Flags will provide design services, then will receive royalty fees once the park opens. It will be operated by Tatweer.

 

In June 2007, Six Flags acquired a minority interest (40 percent) in CPIH LLC, which owns dick clark productions inc. for $39.7 million. RedZone Capital, which is managed by Six Flags directors Daniel Snyder and Dwight Schar, acquired the remaining 60 percent. The deal gives Six Flags exclusive rights to use the Dick Clark library in park promotions.

 

Market outlook

 

For the first half, Six Flags reported a loss of $55.3 million, or 69 cents a share, on revenue of $413.9 million. That compares with a loss of $215.9 million, or $2.40 a share, on revenue of $394.3 million in the 2007 half.

 

Last month, Six Flags said it expects third-quarter revenue will show an improvement over last year, based on a 7.6 percent uptick through mid-August.

 

Total shares of common stock outstanding as of March 31 record date: 97,629,170

 

Price per share:

 

Sept. 5: $1.08

 

Market value:

 

Sept. 5: $105.4 million

 

52-week high: $4.05

 

52-week low: $0.25

 

Price/earnings ratio:

 

Sept. 5: NA

 

2007 dividend per common share: $0

 

Stock holdings

 

Control of common stock by 13 officers and directors: 14,056,505 (14.4%)

 

By executive officers and 3 inside directors:

 

Daniel Snyder, 43, chairman; chairman and principal owner, Washington Redskins: 5,655,612

 

Mark Shapiro, 37, director; president and chief executive officer: 725,185

 

Dwight Schar, 66, director; chairman, NVR Inc.: 5,043,808

 

Jeffrey Speed, 45, executive vice president and chief financial officer: 305,000

 

Mark Quenzel, 51, executive VP: 163,333

 

Louis Koskovolis, 43, executive VP: 213,111

 

Andrew Schleimer, 30, executive VP: 147,933

 

By outside directors: C.E. Andrews, 56, president, Sallie Mae: 28,000

 

Mark Jennings, 45, managing partner, Generation Partners: 1,177,000

 

Jack Kemp, 72, chairman, Kemp Partners: 32,000

 

Robert McGuire, 71, attorney: 74,000

 

Perry Rogers, 39, president, Agassi Enterprises: 27,000

 

Harvey Weinstein, 55, co-chairman, The Weinstein Co. LLC: 27,000

 

Executive cash compensation (2007) (salary + bonus + other pay)

 

M. Shapiro: $1,377,585

 

J. Speed: $1,119,905

 

L. Koskovolis: $911,880

 

M. Quenzel: $675,440

 

A. Schleimer: $620,440

 

Total of top 5 compensated officers: $4,705,250

 

-- Betsy Feldstein

 

Financial snapshot

 

In thousands, except per-share data, for fiscal year ended Dec. 31

 

2007 / 2006 / 2005

 

Total revenue

 

$972,780 / $945,665 / $956,757

 

Operating costs

 

$939,466 / $895,600 / $808,396

 

Net income (loss) ($253,159)($305,618)($110,938)

 

Net income (loss) per share($2.90)($3.48)($1.43)

 

 

 

All Times Union materials copyright 1996-2008, Capital Newspapers Division of The Hearst Corporation, Albany, N.Y.