GRAND PRAIRIE (October 24, 2012)--Shares of Six Flags Entertainment Corp. slipped Wednesday after the theme park operator reported lower-than-expected revenue because of a decline in average spending by those who visit its parks.
The company said its net income rose 32 percent to $253 million, or $4.46 per share, compared with year-ago results of $192.9 million, or $3.43 per share.
Adjusting for a tax rate benefit and the sale of its stake in Dick Clark Productions, which produces the Golden Globe Awards, earnings per share only rose 7 percent.
Revenue rose 2 percent to $485.1 million.
Also Wednesday, the company raised its quarterly dividend by 50 percent to 90 cents.