February 20, 2013
Six Flags Delivers Record Results in 2012
On the heels of an extremely successful 2012 season, Six Flags Discovery Kingdom is gearing up for a monumental year in 2013. Today, Six Flags Entertainment Corporation, the parent company of Discovery Kingdom, announced record financial results for 2012, reporting $1.1 billion of annual revenue and $383 million of Adjusted EBITDA1 in 2012 – the highest in the company’s history.
“Six Flags Discovery Kingdom has a dynamic 2013 season planned with new attractions, special events and fun for the entire family,” said Don McCoy, park president. “For its 27 years in Vallejo, Discovery Kingdom has delivered lasting memories for guests of all ages. By focusing on guest satisfaction and strategic capital investments we will continue to raise the bar for family entertainment in Northern California.”
Six Flags Discovery Kingdom will kick off the 2013 season with Opening Weekend Presented by Lowe’s on Saturday and Sunday, March 16 and 17. In honor of the second exciting year of its SUPERMAN Ultimate Flight one-of-a-kind roller coaster, guests can ride all coasters two times in a row, all weekend long.
This summer, CIRQUE DREAMS SPLASHTASTIC — the Most Amazing Show Above H20 — will premier in a limited run engagement. This all-new aquatic theatrical production will feature the park’s popular dolphins along with an internationally renowned company of acrobats and aerialist that will amaze in the air, over the water, and throughout Dolphin Harbor Theater.
2013 Season Passes are on sale for just $54.99, less than the price of a one day ticket, when four or more are purchased. Guests purchasing four or more passes will also receive one FREE Season Parking Pass.
Investors can find additional information at www.sixflags.com/investors or by contacting the company’s investor relations department.
About Six Flags Entertainment Corporation
Six Flags Entertainment Corporation is the world's largest regional theme park company with more than $1 billion in revenue and 18 parks across the United States, Mexico and Canada. For more than 50 years, Six Flags has entertained millions of families with world-class coasters, themed rides, thrilling water parks and unique attractions including up-close animal encounters, Fright Fest® and Holiday in the Park®. For more information visit www.sixflags.com
(1) "Adjusted EBITDA", a non-GAAP measure, is defined as the Company’s consolidated income (loss) from continuing operations: (i) excluding the cumulative effect of changes in accounting principles, discontinued operations gains or losses, income tax expense or benefit, restructure costs or recoveries, reorganization items (net), other income or expense, gain or loss on early extinguishment of debt, equity in income or loss of investees, interest expense (net), gain or loss on disposal of assets, gain or loss on the sale of investees, amortization, depreciation, stock-based compensation, and fresh start accounting valuation adjustments minus the interests of third parties in the Adjusted EBITDA of properties that are less than wholly owned (consisting of Six Flags Over Georgia, Six Flags White Water Atlanta, Six Flags Over Texas, and Six Flags Great Escape Lodge & Indoor Waterpark (the “Lodge”)) plus the Company's interest in the Adjusted EBITDA of dick clark productions, inc., which was sold in September 2012. The Company believes that Adjusted EBITDA provides useful information to investors regarding the Company’s operating performance and its capacity to incur and service debt and fund capital expenditures. Adjusted EBITDA is approximately equal to “Parent Consolidated Adjusted EBITDA” as defined in the Company’s secured credit agreement, except that Parent Consolidated Adjusted EBITDA excludes Adjusted EBITDA from equity investees that is not distributed to the Company in cash on a net basis and has limitations on the amounts of certain expenses that are excluded from the calculation. Adjusted EBITDA is not defined by GAAP and should not be considered in isolation or as an alternative to net income (loss), income (loss) from continuing operations, net cash provided by (used in) operating, investing and financing activities or other financial data prepared in accordance with GAAP or as an indicator of the Company's operating performance. Adjusted EBITDA as defined herein may differ from similarly titled measures presented by other companies.
