Parks! America Reports $1.77 Million Revenue, Net Income Recovery in Latest Quarter

Parks! America, Inc. reported a total revenue of $1.77 million for the three months ended December 29, 2024, a decrease of 6.7% from $1.90 million in the same period last year. The decline was primarily driven by a 5.0% drop in park revenues, which totaled $1.72 million, alongside a significant reduction in animal sales, which fell to $51,428 from $88,391. The company achieved a net income of $193,041, a notable recovery from a net loss of $369,255 in the prior year, reflecting a positive shift in operational performance.

The financial results indicate a strategic shift in operations, particularly with the implementation of a new ticketing platform in January 2024, aimed at enhancing customer experience. This transition, while neutral in terms of profitability, eliminated direct up-charges on customer transaction fees. On a pro forma basis, adjusting for this change, park revenues would have decreased by approximately 2.2%. Attendance figures varied across locations, with Missouri Park seeing a 16.1% increase, while Georgia Park experienced a 13.6% decline, attributed to heightened competition and recovery efforts from a tornado incident in March 2023.

Operationally, the company reported a segment income of $232,719, up from $223,049 year-over-year. The Georgia Park generated a segment income of $333,946, despite a revenue drop, due to reduced operating expenses. Conversely, Missouri Park improved its performance significantly, while Texas Park faced challenges with lower animal sales and increased staffing costs. Corporate expenses decreased to $270,352, reflecting lower salaries and travel expenses, which contributed to the overall improvement in profitability.

Parks! America also navigated a contested proxy situation, incurring $2.09 million in related expenses during the previous fiscal year. However, the company received approximately $567,157 in insurance proceeds during the latest quarter, which helped offset some of these costs. As of December 29, 2024, the company reported total assets of $18.70 million and a debt-to-equity ratio of 0.25, indicating a stable financial position.

Looking ahead, Parks! America remains focused on enhancing its operational efficiency and customer engagement while managing the impacts of market competition and seasonal attendance fluctuations. The company continues to assess its strategic initiatives and operational adjustments to drive future growth and profitability.