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CEDAR FAIR, L.P. REPORTS RECORD REVENUES AND NET INCOME FOR 1991

 CEDAR FAIR, L.P. REPORTS RECORD REVENUES
 AND NET INCOME FOR 1991
 SANDUSKY, Ohio, Jan. 21 /PRNewswire/ -- Cedar Fair, L.P. (NYSE: FUN), a publicly traded partnership which operates two midwestern amusement/theme parks, today announced record revenues and net income for calendar year 1991.
 Net revenues increased to $128 million, up 5 percent from $122 million a year ago. Net income for the year increased 8 percent to $36.0 million, or $1.68 per limited partner unit, from $33.2 million, or $1.55 per unit, in 1990.
 Cedar Point is located on Lake Erie between Cleveland and Toledo, and Valleyfair is located near Minneapolis/St. Paul. Richard L. Kinzel, president and chief executive officer, explained that virtually all of Cedar Fair's gross income is realized during its operating season from early May to late September, with the major portion historically concentrated in the peak vacation months of July and August.
 "We are pleased with the record operating results achieved for the year because they were accomplished in a difficult economic environment," Kinzel said. "Combined attendance was not severely impacted by the recession and declined only 1 percent, to 4.1 million. Combined guest per capita spending rose 5 percent, to $28.29 from $26.91 last year." Kinzel also attributed the record operating results to the parks' area managers who did a good job of controlling operating costs. "Our employees know we view cost control as critical to the success of the partnership, and year after year they never let us down," Kinzel said.
 Continuing its strategy of providing families with the best amusement park experience possible, Kinzel noted that $12 million in capital expenditures are well underway at the partnership's two parks for the 1992 season.
 "Following the strong operating results turned in for the fifth straight year and with the addition of new attractions designed to make our parks even more exciting places to visit and re-visit, we are looking forward to another successful year in 1992 for Cedar Fair," Kinzel concluded.
 CEDAR FAIR, L.P.
 SUMMARY STATEMENT OF OPERATIONS
 Twelve Months Ended
 (In thousands Dec. 31, 1991 Dec. 31, 1990
 except per unit)
 Net revenues $ 127,950 $ 121,962
 Operating costs and expenses 75,242 71,932
 Depreciation and amortization 10,314 9,706
 Operating income $ 42,394 $ 40,324
 Interest expense 6,419 7,151
 Net income $ 35,975 $ 33,173
 Per Limited Partner Unit:
 Net income $ 1.68 $ 1.55
 Cash distributions declared $ 1.525 $ 1.35
 Number of units outstanding 21,162 21,162
 -0- 1/21/92
 /CONTACT: Juris Pagrabs of Cedar Fair, L.P., 419-627-2293/
 (FUN) CO: Cedar Fair, L.P. ST: Ohio IN: ENT SU: ERN


LC -- CL009 -- 1759 01/21/92 11:11 EST
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Publication:PR Newswire
Date:Jan 21, 1992
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