Welcome to our dedicated page for Parks Amer news (Ticker: PRKA), a resource for investors and traders seeking the latest updates and insights on Parks Amer stock.
Parks! America, Inc. (PRKA) is an arts, entertainment, and recreation company whose news flow centers on the performance and development of its three regional safari parks in Georgia, Missouri and Texas, as well as on capital allocation and corporate governance decisions. The company’s releases frequently provide detailed segment financial results, outlining total revenues, segment income, capital expenditures and asset levels for each park, along with reconciliations to consolidated income (loss) before income taxes.
Investors following PRKA news can review quarterly and annual financial updates, including tables that break down park revenues, cost of sales, selling, general and administrative expenses, depreciation and amortization, and other operating items. The company also reports on items such as contested proxy and related matters, tornado expenses and write-offs, legal settlements, and interest expense, giving context to fluctuations in reported earnings.
Parks! America’s news coverage also highlights corporate actions and strategic decisions. Examples include the authorization of a share repurchase program by the Board of Directors, a reverse/forward stock split designed to reduce administrative costs associated with a large number of small stockholders, and the formation of a Capital Allocation Committee. Leadership developments, such as the appointment of a new President following a proxy contest and leadership transition, are also described in its releases.
In addition, the company announces conference calls and webcasts to discuss its results, often inviting investors to submit questions in advance and providing transcripts afterward. For readers interested in how a multi-park safari operator reports segment performance, manages capital expenditures and addresses governance matters, the Parks! America news page offers a detailed, recurring view of these topics.
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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.
Parks! America released its Q3 and YTD fiscal 2022 financial results, reporting a 5.4% decline in attendance-based net sales for Q3 and 9.5% for YTD. Despite these declines, the company saw a 50.4% increase compared to pre-COVID sales in fiscal 2019. Total net sales for Q3 amounted to $3.64 million, with net income at $718,712, down from $1.27 million in the previous year. The company emphasized record investment of $1.75 million for capital projects, aiming for growth and improved offerings in future fiscal years.
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