Six Flags reported a second quarter profit of $94.5 million even though fewer people went to the company’s theme park.
The news sent shares of the New York-based theme park chain up 12 percent and was priced around $1.25 in mid-morning trading.
Revenues also increased 1 percent to $345.7 million while total attendance declined three percent to 8.6 million. Six Flags attributed the attendance decline to the Easter holiday being in the first quarter in 2008 as opposed to the second quarter in 2007.
“Our performance reflects the growing momentum behind this company after two years of repositioning our brand and reinventing the guest experience,” said chief executive Mark Shapiro. “While we still have a considerable portion of our season in front of us, I’m encouraged by the results, especially in the current economic climate.”