Cedar Fair Q2 Profit Up; Backs FY13 View - Quick Facts

(RTTNews) - Cedar Fair, L.P.(FUN), an owner of amusement and water parks, Thursday reported an increase in second-quarter net income, with a slight rise in revenues, reflecting a modest increase in average in-park guest per capita spending, and out-of-park revenues. The company also reiterated its full-year view.­

For the three-month period, the company reported net income of $47.3 million or $0.85 per share, compared with $36.5 million or $0.66 per share during the same quarter last year. On average, five analysts polled by Thomson Reuters expected earnings per share of $0.82 for the quarter. Analysts' estimates typically exclude one-time items.

The company's revenues increased to $361.6 million from prior year's $357.6 million. Analysts expected the company to report revenues of $360 million for the second quarter.

Looking forward, the company said,"As we head into the peak vacation month of August and our Halloween period, we are encouraged by the positive momentum we have experienced through July and remain confident in our 2013 plan and growth strategy."

The firm also reiterated its expectations for full-year net revenues between $1.090 billion and $1.115 billion and adjusted EBITDA between $400 million and $410 million. Analysts expect the company to report revenues of $1.12 billion for the year.