Orlando-based SeaWorld Entertainment narrowed its first quarter loss, but disappointed analysts' expectations, the company reported today (May 9). The company lost $61.1 million, or 72 cents a share, from $84 million, or $1.00 a share in the same quarter of last year. However, analysts expected a loss of 55 cents for the quarter, according to Dow Jones. Revenues dropped to $186.4 million, down from the consensus expectation of $205.5 million.
The company blamed the poor first quarter results on a shift of spring school holidays to the second quarter, taking sales out of the first quarter.
The San Diego SeaWorld took part of the blame, too. The company noted "a decline at the company's SeaWorld San Diego Park, where construction of the new Orca Encounter commenced in January for a planned opening this summer. The company believes the decline in attendance during this transition results largely from a lack of new content during the interim period."
On April 5, a lawsuit against the company was moved to San Diego federal court from superior court. Reem Mohamed, a resident of Bahrain, says she sufferers possible permanent injury when water from a water cannon entered her right ear while she was aboard the Journey to Atlantis water roller coaster at Sea World two years ago.