February 15, 2012
Six Flags Delivers Record Earnings in 2011
On the heels of an extremely successful 2011 season, Six Flags Over Georgia and Six Flags White Water are gearing up for a monumental season in 2012. Today, Six Flags Entertainment Corporation, the parent company of the Atlanta-area parks, announced impressive earnings for 2011, reporting $350 million of Adjusted EBITDA1 in 2011 – the highest in company history.
“We are extremely excited to kick off the park’s 45th season here at
Six Flags Over Georgia,” said Melinda Ashcraft, park president. “Throughout the years, our guests have supported our park, establishing Six Flags as a staple in the community. In little more than a year after restructuring, Six Flags is once again leading the regional theme park industry by focusing on what we do best – delivering thrills and fun to guests of all ages.”
Six Flags Over Georgia and Six Flags White Water are in the middle of a hiring spree to staff the more than 2,400 seasonal positions required to operate the parks, both located in Cobb County. Applications are still being accepted online at sixflagsjobs.com.
This summer, the theme park will debut a ground-breaking new show aptly named iLuminate™, featuring state-of-the-art costumes equipped with Electroluminescent (EL) wire and LEDs to provide a full sensory experience for guests. The show will run daily May 26 through August 12 in the famed Crystal Pistol Music Hall.
Six Flags White Water is bringing back the guest-favorite Dive-In Movies, a summertime event for families to relax at the Atlanta Ocean Wave Pool and catch the latest flicks on a giant screen. Dive-In Movies will be shown weekly during June and July.
Six Flags Over Georgia will kick off its 45th season on Saturday, March 17. The park will be open weekends through May 25, plus daily for Spring Break March 31 through April 8. Six Flags White Water kicks off the summer season on Saturday, May 19.
The theme park is currently offering an incredible deal on 2012 Season Passes, priced at just $54.99 each when you purchase 4 or more – the same price as a one-day admission ticket.
Investors can find additional information at 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 $1.0 billion in revenue and 19 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 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, fresh start accounting valuation adjustments, discontinued operations, income tax expense or benefit, reorganization items, restructure costs, other income or expense, gain or loss on early extinguishment of debt, equity income or loss of investees, interest expense (net), amortization, depreciation, stock-based compensation, gain or loss on disposal of assets, interests of third parties in the Adjusted EBITDA of properties that are less than wholly owned by the Company (consisting of Six Flags Over Georgia, Six Flags Over Texas, Six Flags White Water Atlanta and Six Flags Great Escape Lodge & Indoor Waterpark (the "Lodge"), and (ii) plus the Company’s share of the Adjusted EBITDA of dick clark productions, inc. 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. The Company believes that Adjusted EBITDA is useful to investors, equity analysts and rating agencies as a measure of the Company's performance. The Company uses Adjusted EBITDA in its internal evaluation of operating effectiveness and decisions regarding the allocation of resources. In addition, Adjusted EBITDA is approximately equal to “Parent Consolidated Adjusted EBITDA” as defined in the Company’s secured credit facilities, 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.
