Universal Orlando posts highest net income in 2007
Scott Powers | Sentinel Staff Writer
2:46 PM EST, February 22, 2008
Universal Orlando announced today that its 2007 fiscal year finished strong enough for the company to enjoy its highest net income yet, $92 million, more than twice what was posted in 2006.
In advance of the company's fourth-quarter 2007 earnings report, which is to be posted with the U.S. Securities & Exchange Commission later this afternoon, Universal City Development Partners announced in a written statement that its total attendance for its Universal Studios and Islands of Adventure theme parks was up 3 percent in 2007. That should put the parks' combined attendance at 10.8 million visitors.
The fiscal year ended Dec. 31. The company's complete 2007 annual report will be filed in March.
A 3 percent increase at the gate would make 2007 the first year since 2004 when the parks enjoyed an annual attendance increase.The company also reported that per-capita spending by visitors was up 6 percent last year, compared with 2006. Last year the company posted a net income of approximately $42 million.
Bill Davis, Universal's president and chief operating officer., called the results the company's "best year ever", and credited sound fiscal management of operating expenses.
"The strategic decision to bolster our marketing and sales activities while at the same time strengthening our overall guest experience continues to take Universal Orlando in a very positive direction," Davis stated. "We picked up tremendous momentum in the third quarter of 2007, and continued that performance into the fourth quarter behind Halloween Horror Nights and an excellent holiday tourism season thanks to Grinchmas and the Macy's Holiday Parade."
http://www.orlandosentinel.com/orl-bk0universal022208,0,4809134.story
Scott Powers | Sentinel Staff Writer
2:46 PM EST, February 22, 2008
Universal Orlando announced today that its 2007 fiscal year finished strong enough for the company to enjoy its highest net income yet, $92 million, more than twice what was posted in 2006.
In advance of the company's fourth-quarter 2007 earnings report, which is to be posted with the U.S. Securities & Exchange Commission later this afternoon, Universal City Development Partners announced in a written statement that its total attendance for its Universal Studios and Islands of Adventure theme parks was up 3 percent in 2007. That should put the parks' combined attendance at 10.8 million visitors.
The fiscal year ended Dec. 31. The company's complete 2007 annual report will be filed in March.
A 3 percent increase at the gate would make 2007 the first year since 2004 when the parks enjoyed an annual attendance increase.The company also reported that per-capita spending by visitors was up 6 percent last year, compared with 2006. Last year the company posted a net income of approximately $42 million.
Bill Davis, Universal's president and chief operating officer., called the results the company's "best year ever", and credited sound fiscal management of operating expenses.
"The strategic decision to bolster our marketing and sales activities while at the same time strengthening our overall guest experience continues to take Universal Orlando in a very positive direction," Davis stated. "We picked up tremendous momentum in the third quarter of 2007, and continued that performance into the fourth quarter behind Halloween Horror Nights and an excellent holiday tourism season thanks to Grinchmas and the Macy's Holiday Parade."
http://www.orlandosentinel.com/orl-bk0universal022208,0,4809134.story
