Universal Orlando Announces Financial Results for Q1 2010
“We continue to look to the future and manage our business aggressively.”
April 22, 2010 - The results were announced in advance of Universal's regular first-quarter S.E.C. filing as the company sought to take advantage of improving market conditions and seek a potential amendment to its $900 million term loan that is expected to result in lower interest rates.
First-quarter attendance for the three-month period ending March 28, 2010 was 1.7 million, which was down 10 percent compared with the first-quarter of 2009. Revenue was $163 million compared with $164 million in the prior period, with favorable per-capita spending helping to mitigate the attendance shortfall. EBITDA was $19 million compared with $34 million last year due primarily to marketing expenses for The Wizarding World of Harry Potter.
“We are excited about the June 18 grand opening of The Wizarding World of Harry Potter and what it will mean for our guests and our business,” said Bill Davis, president of Universal Orlando Resort. “We continue to look to the future and manage our business aggressively.”
About Universal Orlando Resort
There are many ways to enjoy your Orlando vacation - but there is only one Universal Orlando Resort. It is a completely separate destination featuring two theme parks, three magnificently themed on-site hotels and a nighttime entertainment complex. It's the only Orlando destination where you are not just entertained - you are part of the most exhilarating entertainment ever created. You can soar above Hogwarts with Harry Potter, swing above the streets with Spider-Man, battle aliens alongside Agent J, help Shrek save Princess Fiona and create mischief with Bart Simpson. More information is available at www.universalorlando.com.
Now open at Universal Studios: Hollywood Rip Ride Rockit, the most technologically advanced roller coaster in the world. And grand-opening on June 18 - the highly anticipated Wizarding World of Harry Potter will open in Universal's Islands of Adventure.
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