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SeaWorld Entertainment Reports $49M Loss in First Quarter

SeaWorld Entertainment Inc., parent company of SeaWorld San Diego, reported first quarter net loss of $49.4 million, or a loss of 56 cents per diluted share, for the three months ended March 31. That’s compared with a net loss of $40.4 million, or a loss of 49 cents per diluted share, for the like quarter of 2013.

For the recent first quarter, theme park and entertainment company SeaWorld (NYSE: SEAS) generated revenue of $212.3 million, down $26.3 million, or 11 percent, from first quarter 2013, the company said.

The decrease in revenue was primarily driven by a 13 percent decrease in attendance, partially offset by a total revenue per capita increase of 2.2 percent from $68.19 in first quarter 2013 to a record of $69.72 in first quarter 2014.

Attendance during the first quarter was impacted by a shift in the timing of Easter into this year’s second quarter, which caused a shift in the spring break holiday period for schools in many of the company’s key source markets, SeaWorld said. Attendance was also impacted by adverse weather, according to the company.

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On May 13, SeaWorld’s board of directors approved a 5 percent increase to the quarterly cash dividend and declared a cash dividend of 21 cents per share, payable on July 1 to common stockholders of record at the close of business on June 20.

For more on the story, click here.

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