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Parks! America, Inc. Reports Fiscal Year 2024 Financial Results
| For the three months ended | For the year ended | |||||||||||||||
| September 29, 2024 | October 1, 2023 | September 29, 2024 | October 1, 2023 | |||||||||||||
| Total revenues: | ||||||||||||||||
| Georgia | $ | 1,471,131 | $ | 1,770,394 | $ | 5,960,259 | $ | 5,873,526 | ||||||||
| Missouri | 718,543 | 631,285 | 2,036,280 | 1,692,765 | ||||||||||||
| Texas | 418,017 | 451,593 | 1,915,721 | 1,873,957 | ||||||||||||
| Consolidated | $ | 2,607,691 | $ | 2,853,272 | $ | 9,912,260 | $ | 9,440,248 | ||||||||
| Income (loss) before income taxes: | ||||||||||||||||
| Georgia | $ | 570,862 | $ | 689,362 | $ | 2,294,879 | $ | 2,054,001 | ||||||||
| Missouri | 290,333 | 227,281 | 457,219 | 257,379 | ||||||||||||
| Texas | (29,216 | ) | 8,349 | 72,921 | 27,577 | |||||||||||
| Segment EBITDA | 831,979 | 924,992 | 2,825,019 | 2,338,957 | ||||||||||||
| Corporate expenses | (300,274 | ) | (269,691 | ) | (1,211,764 | ) | (1,198,652 | ) | ||||||||
| Depreciation and amortization | 199,319 | 235,702 | 871,967 | 884,459 | ||||||||||||
| Loss on asset disposals, net | 26,980 | 286,562 | 62,734 | 317,146 | ||||||||||||
| Contested proxy and related matters, net | 2,988 | - | 2,040,810 | - | ||||||||||||
| Tornado expenses and write-offs, net | - | 5,359 | (53,755 | ) | 368,955 | |||||||||||
| Legal settlement | - | - | 75,000 | - | ||||||||||||
| Other income, net | 31,623 | 15,522 | 132,948 | 80,230 | ||||||||||||
| Interest expense | (81,729 | ) | (52,657 | ) | (229,244 | ) | (222,396 | ) | ||||||||
| Consolidated | $ | 252,312 | $ | 90,543 | $ | (1,479,797 | ) | $ | (572,421 | ) | ||||||
| For the year ended | ||||||||||||||||
| September 29, 2024 | October 1, 2023 | |||||||||||||||
| Depreciation and amortization: | ||||||||||||||||
| Georgia | $ | 357,522 | $ | 324,252 | ||||||||||||
| Missouri | 231,734 | 275,533 | ||||||||||||||
| Texas | 281,055 | 283,020 | ||||||||||||||
| Corporate | 1,656 | 1,654 | ||||||||||||||
| Consolidated | $ | 871,967 | $ | 884,459 | ||||||||||||
| Capital expenditures: | ||||||||||||||||
| Georgia | $ | 593,515 | $ | 1,208,762 | ||||||||||||
| Missouri | 100,428 | 134,987 | ||||||||||||||
| Texas | 213,012 | 214,095 | ||||||||||||||
| Consolidated | $ | 906,955 | $ | 1,557,844 |
| As of | ||||||||
| September 29, 2024 | October 1, 2023 | |||||||
| Total assets: | ||||||||
| Georgia | $ | 7,520,918 | $ | 8,519,619 | ||||
| Missouri | 3,399,324 | 3,335,794 | ||||||
| Texas | 7,812,661 | 7,698,400 | ||||||
| Corporate | 461,168 | 541,910 | ||||||
| Consolidated | $ | 19,194,071 | $ | 20,095,723 | ||||
| Total cash & short-term investments: | ||||||||
| Georgia | $ | 1,800,623 | $ | 3,047,188 | ||||
| Missouri | 870,918 | 671,423 | ||||||
| Texas | 570,122 | 312,563 | ||||||
| Corporate | 82,705 | 67,213 | ||||||
| Consolidated | $ | 3,324,368 | $ | 4,098,387 | ||||
| Asset less cash & short-term investments: | ||||||||
| Georgia | $ | 5,720,295 | $ | 5,472,431 | ||||
| Missouri | 2,528,406 | 2,664,371 | ||||||
| Texas | 7,242,539 | 7,385,837 | ||||||
| Corporate | 378,463 | 474,697 | ||||||
| Consolidated | $ | 15,869,703 | $ | 15,997,336 |
Conference Call and Webcast Details
The Company will host a conference call to review its fiscal year 2024 results on Monday, December 16, 2024, at 4:30 pm ET. The conference call will be webcast and can be accessed on the Company's website, .
All participants on the conference call will be invited to ask a question. You may also email your question to ... prior to the call. A transcript of the call will be available on the Company's website.
About Parks! America, Inc.
Parks! America, Inc. (OTCPink: PRKA), through our wholly owned subsidiaries, owns and operates three regional safari parks and is in the business of acquiring, developing and operating local and regional entertainment assets in the United States.
Additional information, including our Annual Report on Form 10-K for the fiscal year ended September 29, 2024, is available on the Company's website, .
Cautionary Note Regarding Forward Looking Statements
This news release may contain“forward-looking statements” within the meaning of U.S. securities laws. Forward-looking statements include statements concerning our future plans, business strategy, liquidity, capital expenditures, sources of revenue and other similar statements that are not historical in nature. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this news release and speak only as of the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results to differ significantly from those expressed or implied by such forward-looking statements. Readers are advised to consider the factors listed under the heading“Risk Factors” and the other information contained in the Company's Annual Report on Form 10-K and other reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Contact:
Ralph Molina
Head of Investor Relations and Corporate Strategy
(706) 940-2209
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