Six Flags Entertainment reports attendance jump and record revenue

Roller coasters were a scream this summer.

Six Flags Entertainment Corp., the world’s largest regional theme park company and operator of Six Flags Magic Mountain in Valencia, reported record revenue for the July-to-September quarter, with a 6% rise to $575 million, compared with the same period a year earlier.

Attendance for the 18 regional theme parks in the U.S., Mexico and Canada jumped 9% to 12.9 million visitors, the Grand Prairie, Texas, company reported.

The rising revenue and higher attendance numbers suggest Six Flags Entertainment is on track to report its sixth straight year of record revenue since the company filed for bankruptcy protection in 2009.

Third-quarter net income jumped to $176.4 million, or $1.64 a share, a 42% increase over the $124 million in net income, or $1.58 a share, posted in the same quarter last year, the company reported.

The company attributed the strong financial performance partly to a 25% increase in sales of annual passes and other membership programs over the past year.

“Season pass holders and members are the company’s most valuable guests since they generate higher revenue and cash flow for the company than a single day guest, and also provide an excellent hedge against inclement weather throughout the season,” the company said in a financial statement released Monday.

The financial report did not single out data from Six Flags Magic Mountain, but a park representative said the theme park also had a strong year, thanks partly to the popularity of Twisted Colossus, a hybrid wood-and-steel coaster that was created this spring from the frame of the parks biggest wooden coaster, Colossus.

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