SEAS $56.2 Million Loss Through 30 June 13

[Alf33]

The below text is from the SEAS Quarterly report for the period ending 30 June 13. The report was posted on the SEC's website on 14 Aug. For the period ending 30 June 13 the company lost $56.2 million.

"During the three months ended June 30, 2013, we hosted approximately 6.6 million guests in our theme parks, including approximately 0.8 million international guests. In the three months ended June 30, 2013, we generated total revenues of $411.3 million and incurred a net loss of $15.9 million. During the six months ended June 30, 2013, we hosted approximately 10.1 million guests in our theme parks, including approximately 1.5 million international guests. In the six months ended June 30, 2013, we generated total revenues of $649.9 million and incurred a net loss of $56.2 million."

http://www.sec.gov/Archives/edgar/data/1564902/000119312513333190/d555590d10q.htm

 

[pandorazboxx]

I'm not the best at reading these, but one thing that stands out to me (and I may be interpreting it wrong) is that they did lose $56M this year, where they lost $6M last year. However, it appears they have paid a lot towards their long-term debt. Last year at this point they spent about $7M on repayment, but this year they've paid $182M.

Does this mean that they may be sacrificing a little bit right now, so that they can get their long term debt under control? (I'm an engineer, not an economist)

 

[Party Rocker]

I am think so, pay off a lot of debt now, that way you are open to more opportunities later. I see it as them paying off multiple payments all at once so they can eventually have no debt sooner or later.

 

[Jesy]

Debt repayment is not an expense that would show up on an income statement. Only the interest related to the debt is an expense, so that's not the reason for the net loss.

I agree that the debt repayment amount is impressive.

 

[Alf33]

I seen where they have paid down some of the long term debt also. Plus they lowered some operating costs and their total revenue went up by $11M vs the prior year. But the one thing that really puzzles me is why, being that they are a brand new publicly traded company, are they issuing a $0.20/share dividend on their stock? That cost them just over $18M. Usually only companies that have a lot of cash do that.