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Six Flags Entertainment 2Q net income falls 34 pct

Published on NewsOK Modified: July 22, 2013 at 9:53 am •  Published: July 22, 2013
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GRAND PRAIRIE, Texas (AP) — Amusement-park operator Six Flags Entertainment Corp. said Monday that its second-quarter net income dropped 34 percent, pulled down by a steep increase in income tax expense and unusually cool and wet weather that reduced attendance at some of its parks.

The results fell short of Wall Street estimates,

James Reid-Anderson, Six Flags' chairman, president and CEO, also said in a conference call Monday morning that the company continues to investigate the Friday death of a woman at its Six Flags Over Texas park in Arlington, Texas.

Six Flags hasn't said how the woman died. Witnesses said the woman expressed concern about the Texas Giant roller coaster's safety bar not completely engaging as the ride was starting.

The 14-story ride, which remains closed, is touted as the tallest steel-hybrid roller coaster in the world.

Reid-Anderson said the company won't be releasing further information until its investigation is complete.

For the three-month period ended June 30, Six Flags said that it earned $47.4 million, or 47 cents per share, down from $72.3 million, or 64 cents per share, in the same quarter of 2012.

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