Operator of Ohio amusement, water parks posts rise in earnings

SANDUSKY, Ohio (AP) -- Amusement park operator Cedar Fair LP said its earnings increased in 2003 despite a slight drop in attendance for the year.
The operator of Cedar Point and five other amusement parks and five water parks reported Thursday a profit of $85.9 million, or $1.67 a share, last year up from $71.4 million, or $1.39 a share.
Revenues in 2003 were $510 million, up from $503 million a year ago.
For the fourth quarter, the publicly traded partnership had a loss of $10.7 million compared with a loss of $13.1 million in the same period in 2002.
Most of the company's revenue comes during the spring and summer.
Attendance at all of its parks was 12.2 million, down 1 percent from 2002. But that was offset by a 3 percent increase in spending by park guests.
The company operates Cedar Point and Soak City in Sandusky; Knott's Berry Farm and Knott's Soak City in Buena Park, Calif.; Soak City U.S.A. in Chula Vista, Calif.; Oasis Water Park near Palm Springs, Calif; Worlds of Fun and Oceans of Fun in Kansas City, Mo.; Dorney Park in Allentown, Pa.; Michigan's Adventure in Muskegon, Mich.; and Valleyfair near Minneapolis.