Exhibit 99.1
HISTORICAL QUARTERLY FINANCIAL INFORMATION
REFLECTING ASTROWORLD AS A DISCONTINUED OPERATION
SIX FLAGS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
2004 QUARTERLY FINANCIAL STATEMENTS
(UNAUDITED)
Q1 Q2 Q3 Q4 2004
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Attendance 1,212,000 10,979,000 16,298,000 3,603,000 32,092,000
Revenue:
Theme park admissions $ 19,284,000 184,827,000 276,074,000 53,871,000 534,056,000
Theme park food, merchandise and other 21,417,000 158,621,000 232,938,000 51,558,000 464,534,000
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Total revenue 40,701,000 343,448,000 509,012,000 105,429,000 998,590,000
Operating costs and expenses
Operating expenses 76,711,000 130,698,000 138,620,000 75,620,000 421,649,000
Selling, general and administrative 35,538,000 74,286,000 56,312,000 30,656,000 196,792,000
Noncash compensation (primarily selling, general
and administrative) 161,000 161,000 160,000 161,000 643,000
Cost of products sold 3,784,000 30,319,000 41,549,000 7,903,000 83,555,000
Depreciation 34,427,000 34,410,000 35,088,000 38,042,000 141,967,000
Amortization 326,000 327,000 323,000 217,000 1,193,000
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Total operating costs and expenses 150,947,000 270,201,000 272,052,000 152,599,000 845,799,000
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Income from operations (110,246,000) 73,247,000 236,960,000 (47,170,000) 152,791,000
Other income (expense)
Interest expense (52,208,000) (49,577,000) (46,668,000) (47,221,000) (195,674,000)
Interest income 301,000 461,000 1,873,000 1,458,000 4,093,000
Minority interest in earnings 7,354,000 (23,236,000) (25,814,000) 4,010,000 (37,686,000)
Early repurchase of debt (25,177,000) (6,195,000) (490,000) (5,869,000) (37,731,000)
Other income (expense) (2,925,000) (1,626,000) (14,803,000) (8,201,000) (27,555,000)
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Total other income (expense) (72,655,000) (80,173,000) (85,902,000) (55,823,000) (294,553,000)
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Income before income taxes (182,901,000) (6,926,000) 151,058,000 (102,993,000) (141,762,000)
Income tax expense (benefit) (67,331,000) (2,426,000) 98,673,000 4,399,000 33,315,000
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Income (loss) before discontinued operations (115,570,000) (4,500,000) 52,385,000 (107,392,000) (175,077,000)
Discontinued operations, net of tax (289,249,000) (2,326,000) 3,982,000 (2,139,000) (289,732,000)
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Net income (loss) $(404,819,000) (6,826,000) 56,367,000 (109,531,000) (464,809,000)
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Net income (loss) applicable to common stock $(410,312,000) (12,318,000) 50,874,000 (115,021,000) (486,777,000)
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Weighted average number of shares outstanding
- basic: 93,018,000 93,042,000 93,042,000 93,042,000 93,036,000
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Weighted average number of shares outstanding
- diluted: 93,018,000 93,042,000 106,831,000 93,042,000 93,036,000
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Net income (loss) per average common share
outstanding - basic:
Income (loss) before discontinued operations $ (1.30) (0.11) 0.50 (1.21) (2.12)
Discontinued operations, net of tax (3.11) (0.02) 0.05 (0.03) (3.11)
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Net income (loss) $ (4.41) (0.13) 0.55 (1.24) (5.23)
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Net income (loss) per average common share
outstanding - diluted:
Income (loss) before discontinued operations $ (1.30) (0.11) 0.49 (1.21) (2.12)
Discontinued operations, net of tax (3.11) (0.02) 0.04 (0.03) (3.11)
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Net income (loss) $ (4.41) (0.13) 0.53 (1.24) (5.23)
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Attendance:
Domestic 821,000 9,944,000 14,932,000 2,945,000 28,642,000
International 391,000 1,035,000 1,366,000 658,000 3,450,000
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Total 1,212,000 10,979,000 16,298,000 3,603,000 32,092,000
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Domestic revenue $ 33,405,000 323,976,000 480,832,000 92,299,000 930,512,000
International revenue 7,296,000 19,472,000 28,180,000 13,130,000 68,078,000
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Total revenue $ 40,701,000 343,448,000 509,012,000 105,429,000 998,590,000
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EBITDA Reconciliation (1)
Net income $(404,819,000) (6,826,000) 56,367,000 (109,531,000) (464,809,000)
Discontinued Operations 289,249,000 2,326,000 (3,982,000) 2,139,000 289,732,000
Income tax expense (benefit) (67,331,000) (2,426,000) 98,673,000 4,399,000 33,315,000
Other expense 2,925,000 1,626,000 14,803,000 8,201,000 27,555,000
Early repurchase of debt 25,177,000 6,195,000 490,000 5,869,000 37,731,000
Minority interest (7,354,000) 23,236,000 25,814,000 (4,010,000) 37,686,000
Interest expense (net) 51,907,000 49,116,000 44,795,000 45,763,000 191,581,000
Amortization 326,000 327,000 323,000 217,000 1,193,000
Depreciation 34,427,000 34,410,000 35,088,000 38,042,000 141,967,000
Noncash compensation 161,000 161,000 160,000 161,000 643,000
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EBITDA (modified) (75,332,000) 108,145,000 272,531,000 (8,750,000) 296,594,000
Third party interest in EBITDA of certain parks 5,983,000 (24,607,000) (27,185,000) 2,767,000 (43,042,000)
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Adjusted EBITDA $ (69,349,000) 83,538,000 245,346,000 (5,983,000) 253,552,000
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HISTORICAL QUARTERLY FINANCIAL INFORMATION
REFLECTING ASTROWORLD AS A DISCONTINUED OPERATION
SIX FLAGS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
2005 QUARTERLY FINANCIAL STATEMENTS
(UNAUDITED)
Q1 Q2 Q3 2005
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Attendance 1,505,000 11,634,000 16,957,000 30,096,000
Revenue:
Theme park admissions $ 23,480,000 200,761,000 305,662,000 529,903,000
Theme park food, merchandise and other 26,280,000 168,369,000 253,307,000 447,956,000
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Total revenue 49,760,000 369,130,000 558,969,000 977,859,000
Operating costs and expenses
Operating expenses 84,095,000 138,785,000 155,750,000 378,630,000
Selling, general and administrative 36,208,000 74,214,000 52,391,000 162,813,000
Noncash compensation (primarily selling, general
and administrative) 288,000 166,000 166,000 620,000
Cost of products sold 4,922,000 32,497,000 47,212,000 84,631,000
Depreciation 35,174,000 35,601,000 37,263,000 108,038,000
Amortization 222,000 223,000 222,000 667,000
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Total operating costs and expenses 160,909,000 281,486,000 293,004,000 735,399,000
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Income from operations (111,149,000) 87,644,000 265,965,000 242,460,000
Other income (expense)
Interest expense (46,527,000) (47,181,000) (45,962,000) (139,670,000)
Interest income 1,782,000 1,406,000 1,831,000 5,019,000
Minority interest in earnings 6,563,000 (25,531,000) (25,060,000) (44,028,000)
Early repurchase of debt (19,303,000) - - (19,303,000)
Other income (expense) (2,901,000) (7,843,000) (2,188,000) (12,932,000)
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Total other income (expense) (60,386,000) (79,149,000) (71,379,000) (210,914,000)
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Income before income taxes (171,535,000) 8,495,000 194,586,000 31,546,000
Income tax expense (benefit) 3,322,000 (19,000) 368,000 3,671,000
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Income (loss) before discontinued operations (174,857,000) 8,514,000 194,218,000 27,875,000
Discontinued operations, net of tax (3,862,000) 2,587,000 1,470,000 195,000
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Net income (loss) $(178,719,000) 11,101,000 195,688,000 28,070,000
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Net income (loss) applicable to common stock $(184,212,000) 5,609,000 190,195,000 11,592,000
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Weighted average number of shares outstanding
- basic: 93,104,000 93,107,000 93,107,000 93,106,000
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Weighted average number of shares outstanding
- diluted: 93,104,000 93,107,000 154,051,000 93,106,000
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Net income (loss) per average common share
outstanding - basic:
Income (loss) before discontinued operations $ (1.94) 0.03 2.03 0.12
Discontinued operations, net of tax (0.04) 0.03 0.01 -
------------- ------------- ------------- -------------
Net income (loss) $ (1.98) 0.06 2.04 0.12
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Net income (loss) per average common share
outstanding - diluted:
Income (loss) before discontinued operations $ (1.94) 0.03 1.28 0.12
Discontinued operations, net of tax (0.04) 0.03 0.01 -
------------- ------------- ------------- -------------
Net income (loss) $ (1.98) 0.06 1.29 0.12
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Attendance:
Domestic 898,000 10,562,000 15,587,000 27,047,000
International 607,000 1,072,000 1,370,000 3,049,000
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Total 1,505,000 11,634,000 16,957,000 30,096,000
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Domestic revenue $ 36,894,000 347,011,000 526,106,000 910,011,000
International revenue 12,866,000 22,119,000 32,863,000 67,848,000
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Total revenue $ 49,760,000 369,130,000 558,969,000 977,859,000
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EBITDA Reconciliation (1)
Net income $(178,719,000) 11,101,000 195,688,000 28,070,000
Discontinued Operations 3,862,000 (2,587,000) (1,470,000) (195,000)
Income tax expense (benefit) 3,322,000 (19,000) 368,000 3,671,000
Other expense 2,901,000 7,843,000 2,188,000 12,932,000
Early repurchase of debt 19,303,000 - - 19,303,000
Minority interest (6,563,000) 25,531,000 25,060,000 44,028,000
Interest expense (net) 44,745,000 45,775,000 44,131,000 134,651,000
Amortization 222,000 223,000 222,000 667,000
Depreciation 35,174,000 35,601,000 37,263,000 108,038,000
Noncash compensation 288,000 166,000 166,000 620,000
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EBITDA (modified) (75,465,000) 123,634,000 303,616,000 351,785,000
Third party interest in EBITDA of certain parks 5,343,000 (26,751,000) (26,280,000) (47,688,000)
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Adjusted EBITDA $ (70,122,000) 96,883,000 277,336,000 304,097,000
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