Six Flags falls after 1Q results miss analysts' estimates

NEW YORK - Six Flags Inc.'s stock slipped Friday after its first-quarter performance failed to meet Wall Street's expectations.

Late Thursday the amusement park operator reported a loss of $1.62 per share, which was smaller than the prior-year's loss, but the results missed the $1.48-per-share loss estimate of analysts surveyed by Thomson Financial.

Kit Spring of Stifel Nicolaus & Co. said improved attendance during the quarter may have been a result of timing, as the New York-based company cautioned that year-to-date attendance would be flat by the end of the month.

While Six Flags' management is optimistic that escalating gas prices will have little impact on its results, Spring was not as certain. The analyst agreed that driving to Six Flags locations would not be an issue but questioned whether rising fuel costs would have a broader impact on consumer spending.

Consumers have curbed spending because of the continued housing slowdown, climbing food and gas costs, diminishing credit and recession fears.

Spring reiterated a "Hold" rating.

Shares of Six Flags dipped 5 cents, or 2.2 percent, to $2.19. The stock has traded in a 52-week range of $1.46 to $6.80.

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