Cedar Fair Entertainment Co. (FUN: Quote) reported a wider fourth-quarter net loss allocated to limited partners of $10.38 million, or $0.19 per limited partner unit, compared with a loss of $1.96 million, or $0.04 per limited partner unit, last year. On average, 3 analysts polled by Thomson Reuters expected loss per share of $0.08 for the quarter. Analysts' estimates typically exclude one-time items.
Net revenues were $129.2 million, lower than $144.85 million a year earlier. Analysts estimated revenues of $130.60 million for the quarter.
For the 2013 season, the company intends to invest nearly $100 million in marketable capital improvements across its properties, highlighted by GateKeeper, a record-breaking winged roller coaster that will transform the front gate of its flagship property, Cedar Point, in Sandusky, Ohio. Also, it plans to spend an additional $15 million to $20 million on incremental capital programs in 2013.
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by RTT Staff Writer
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