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Parks! America, Inc. reports news on its operations as an OTCQX-traded owner and operator of three regional safari parks through wholly owned subsidiaries. The company describes its business as acquiring, developing and operating local and regional entertainment assets in the United States.
Recurring updates focus on quarterly and annual financial results, park-level reportable segment performance, revenue-driven costs, personnel costs, animal care expenses, maintenance and other operating costs. Company news also covers capital actions involving its common stock, including stock split activity and board-authorized share repurchase programs.
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Parks! America announced plans for significant capital investments across its animal safari theme parks in 2023 to enhance animal education and conservation. New exhibits will open at Pine Mountain in April, including an expanded aviary and a ring-tailed lemur exhibit. Springfield will introduce an Asian small-clawed otter exhibit in March, while Aggieland will add two new exhibits and a restaurant in spring 2023. These developments aim to provide guests with memorable experiences.
Parks! America, Inc. (OTCPink: PRKA) reported its first fiscal quarter results for 2023, showing total net sales of $1.86 million, a 4.3% decline year-over-year. Despite lower attendance impacting sales by 6.4%, the company achieved an EBITDA of $92,360, reflecting a significant increase of $380,529 from the prior year. The net loss narrowed to $152,960, from $421,940 a year prior, driven by reduced SG&A expenses. Looking forward, attendance-based net sales are trending positively, with nearly 20% growth in the first six weeks of the second quarter.
Parks! America, Inc. (OTCPink: PRKA) reported its fourth fiscal quarter results, revealing total net sales of $3.07 million, a decrease of 7.5% year-over-year. Net income fell to $482,409 compared to $765,730 in the prior year, primarily due to lower attendance and increased operating expenses. For the fiscal year ended October 2, 2022, total net sales were $10.7 million, down by $1.12 million. Despite these declines, the company reported a 12% rise in attendance and a nearly 30% increase in per capita spending compared to pre-pandemic levels in 2019. The focus remains on strategic improvements and enhancing guest experiences.
Parks! America, Inc. (OTCPink: PRKA) has appointed Lisa Brady as the new President and CEO, succeeding Dale Van Voorhis on November 14, 2022. Brady brings extensive experience in the amusement park sector, having held various leadership roles at Cedar Fair Entertainment Company. Her appointment is part of the company's strategic growth initiative, with Van Voorhis continuing as Chairman of the Board. The Board expressed confidence in Brady's capabilities to drive future growth, citing organic and inorganic growth opportunities.