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SeaWorld Entertainment Gives Q2 Results, Plans Cost-Saving Initiatives

SeaWorld Entertainment Inc., the parent company of SeaWorld San Diego, reported second quarter revenue of $405.2 million, down about 1.5 percent from $411.3 million in the like quarter of 2013.

SeaWorld’s attendance was 6.6 million visitors for the quarter ended June 30, an increase of 0.3 percent compared with the like quarter of 2013, the company said.

Although revenue fell slightly, net income for the second quarter was was up, $37.3 million in the recent quarter compared with a net loss of $15.9 million in the like quarter in 2013, the company said. And the company has plans to further bolster its bottom line through reducing expenses.

“In order to drive growth, we are undertaking a number of initiatives, including a detailed review of our companywide cost structure with the goal of driving significant cash cost savings in 2014 and 2015,” said Jim Atchison, CEO and president of SeaWorld Entertainment. “Our intent is to re-invest these savings into additional new attractions at our destination parks and return capital to shareholders.”

The company will announce more details on one such investment in the coming days, Atchison said.

For more details on SeaWorld’s results, click here.

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