The Park Lights Only News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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In fourth quarter 2020, the company generated $109 million of revenue with attendance of 2.2 million guests, a net loss of $86 million, and an Adjusted EBITDA loss of $39 million. The net loss and Adjusted EBITDA loss include an increase in reserves of approximately $19 million. The total amount recorded reflects management’s estimate of the probable outcome of a legacy class action lawsuit. The Adjusted EBITDA calculation reflects an add-back adjustment of approximately $5 million of non-recurring costs related to the transformation plan, including $3 million of employee termination costs and $2 million of consulting costs.
The decrease in attendance was due to the temporary pandemic-related limitations on park operations at several of the company’s parks, and capacity restrictions at the parks that were open. Four parks provided drive-through or walk-through only experiences for the holiday season, and the company’s parks in Mexico were open for only a portion of ....

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