Sandusky, OH - Cedar Fair came out with its quarterly financial report in a press release this week. The company is reporting that their first quarter has once again been successful, building on a successful year during 2011.

Newly appointed president and chief executive officer Matt Ouimet reported in a press release last week that typically less then 5% of the company’s revenue is made during the first quarter, as nearly all of their properties are closed for the winter. Ouimet stated that the early year season pass revenue encourages him, and the company expects another record-setting year in 2012.

2011 saw the park open identical Windseeker attractions at Cedar Point, Kings Island, Knott’s Berry Farm, and Canada’s Wonderland. In 2012 the chain has added Windseeker rides to Carowinds and Kings Dominion. Likewise, Kings Dominion, Dorney Park, Canada’s Wonderland, and Cedar Point all have 2012 installations of the Dinosaurs Alive! attraction that was successful at Kings Island during its first season in 2011. Both attractions proved to be well received by guests and may explain the rapid spread of them to other parks.

Cedar Fair saw record attendance numbers in 2011, with 23.4 million guests visiting their various parks, with Canada’s Wonderland seeing over 3 million guests in 2011, the most of any seasonal park in North America last season. That park opens Leviathan, what is now Canada’s tallest and fastest roller coaster, in 2012, perhaps drawing more interest to the already popular park.

In terms of numbers, the company’s first quarter net revenues for 2012 are reported at about $28.2 million dollars, which is approximately 5% higher than net revenue of $26.9 million last season during the first quarter, which already bodes well for a 2012 season where to company expects to yet again set attendance records.

While early revenue numbers are up, net loss numbers are also down, at $65.2 million for the quarter, $19.5 million less than last years total. The company attributes these steps in the positive direction to lower debt from borrowing contracts than last season. Based on these numbers, the company projects to set monetary and attendance records not only this season, but in the coming seasons as well. According to the press release, Cedar Fair expects their full year revenue figures to reach somewhere between $1.055 billion and $1.075 billion.

The company’s quarterly cash distribution is estimated at $0.40 per LP unit, which complies with a 2012 rate of $1.60 per LP unit for the 2012 year. As the company stated last year at this point, they still expect to distribute over $2.00 per LP unit for the 2013 season next year according to the press release.

Cedar Fair’s parks, under the direction of Ouimet, have implemented a system called the “Best Day Project,” which is a renewed vow to making sure every guest has the best day possible every time that they visit the park. By following this promise, the chain hopes to continue to attract guests to repeatedly visit their parks based on their state-of-the-art attractions and the outstanding guest services that they aim to provide.