Parks! America, Inc. Reports Fiscal Year 2024 Financial Results
Parks! America (OTCPink: PRKA) has reported its fiscal year 2024 financial results. Total consolidated revenues increased to $9.91 million from $9.44 million in the previous year. The company's operations span three locations: Georgia, Missouri, and Texas. Georgia generated revenues of $5.96 million, Missouri $2.04 million, and Texas $1.92 million.
The company reported a consolidated loss before income taxes of $1.48 million, compared to a loss of $572,421 in the previous year. Notable expenses included $2.04 million for contested proxy matters and $871,967 in depreciation and amortization. Total consolidated assets stood at $19.19 million, with cash and short-term investments of $3.32 million as of September 29, 2024.
Parks! America (OTCPink: PRKA) ha riportato i risultati finanziari per l'anno fiscale 2024. I ricavi consolidati totali sono aumentati a $9,91 milioni rispetto ai $9,44 milioni dell'anno precedente. Le operazioni dell'azienda si estendono su tre località: Georgia, Missouri e Texas. La Georgia ha generato ricavi di $5,96 milioni, il Missouri $2,04 milioni e il Texas $1,92 milioni.
L'azienda ha registrato una perdita consolidata prima delle imposte sul reddito di $1,48 milioni, rispetto a una perdita di $572.421 nell'anno precedente. Le spese notevoli hanno incluso $2,04 milioni per questioni di proxy contestate e $871.967 in ammortamenti e svalutazioni. Gli attivi consolidati totali ammontavano a $19,19 milioni, con contante e investimenti a breve termine di $3,32 milioni al 29 settembre 2024.
Parks! America (OTCPink: PRKA) ha informado sobre sus resultados financieros del año fiscal 2024. Los ingresos consolidados totales aumentaron a $9.91 millones desde $9.44 millones en el año anterior. Las operaciones de la empresa abarcan tres ubicaciones: Georgia, Missouri y Texas. Georgia generó ingresos de $5.96 millones, Missouri $2.04 millones y Texas $1.92 millones.
La empresa reportó una pérdida consolidada antes de impuestos sobre la renta de $1.48 millones, en comparación con una pérdida de $572,421 en el año anterior. Los gastos notables incluyeron $2.04 millones por asuntos de poder contestados y $871,967 en depreciación y amortización. Los activos consolidados totales ascendieron a $19.19 millones, con efectivo e inversiones a corto plazo de $3.32 millones hasta el 29 de septiembre de 2024.
Parks! America (OTCPink: PRKA)는 2024 회계연도 재무 결과를 발표했습니다. 총 consolidated 수익은 작년 $9.44 million에서 $9.91 million으로 증가했습니다. 회사의 운영은 조지아주, 미주리주, 텍사스주 세 곳에 걸쳐 있습니다. 조지아는 $5.96 million, 미주리는 $2.04 million, 텍사스는 $1.92 million의 수익을 올렸습니다.
회사는 소득세 전의 consolidated 손실이 $1.48 million이라고 보고했으며, 이는 작년 $572,421의 손실과 비교됩니다. 주요 비용으로는 $2.04 million의 contested proxy 문제와 $871,967의 감가상각 및 상각이 포함되었습니다. 총 consolidated 자산은 $19.19 million으로, 2024년 9월 29일 현재 현금 및 단기 투자금은 $3.32 million입니다.
Parks! America (OTCPink: PRKA) a publié ses résultats financiers pour l'exercice fiscal 2024. Les revenus consolidés totaux ont augmenté à $9,91 millions contre $9,44 millions l'année précédente. Les opérations de l'entreprise couvrent trois emplacements : Géorgie, Missouri et Texas. La Géorgie a généré des revenus de $5,96 millions, le Missouri $2,04 millions et le Texas $1,92 millions.
L'entreprise a enregistré une perte consolidée avant impôts sur le revenu de $1,48 millions, contre une perte de $572,421 l'année précédente. Les dépenses notables comprenaient $2,04 millions pour des questions de procuration contestées et $871,967 en amortissement et dépréciation. Le total des actifs consolidés s'élevait à $19,19 millions, avec des liquidités et des investissements à court terme de $3,32 millions au 29 septembre 2024.
Parks! America (OTCPink: PRKA) hat seine finanziellen Ergebnisse für das Geschäftsjahr 2024 veröffentlicht. Die gesamten konsolidierten Einnahmen stiegen auf $9,91 Millionen, verglichen mit $9,44 Millionen im Vorjahr. Die Geschäftstätigkeit des Unternehmens erstreckt sich über drei Standorte: Georgia, Missouri und Texas. Georgia erzielte Einnahmen von $5,96 Millionen, Missouri $2,04 Millionen und Texas $1,92 Millionen.
Das Unternehmen meldete einen konsolidierten Verlust vor Steuern von $1,48 Millionen, verglichen mit einem Verlust von $572.421 im Vorjahr. Zu den bemerkenswerten Ausgaben gehörten $2,04 Millionen für umstrittene Stimmrechtsangelegenheiten und $871,967 für Abschreibungen und Amortisation. Die gesamten konsolidierten Vermögenswerte beliefen sich auf $19,19 Millionen, mit Zahlungsmitteln und kurzfristigen Investitionen von $3,32 Millionen zum 29. September 2024.
- Revenue growth of 5% year-over-year to $9.91 million
- Missouri segment revenue increased by 20.3% to $2.04 million
- Missouri segment income before taxes improved by 77.6% to $457,219
- Consolidated loss before income taxes widened to $1.48 million from $572,421
- Cash and short-term investments decreased to $3.32 million from $4.10 million
- Significant expense of $2.04 million for contested proxy matters
- Texas segment reported a Q4 loss of $29,216 compared to previous year's profit
Management to host conference call on Monday, December 16, 2024, at 4:30 PM ET
PINE MOUNTAIN, Georgia, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Parks! America, Inc. (OTCPink: PRKA), today announced its financial results for fiscal year 2024 ended September 29, 2024. The summary information in this press release should not be used as the sole basis for making investment decisions. We encourage shareholders to read our complete Annual Report on Form 10-K, which has been posted on the Company's website animalsafari.com/investor-relations, for a complete view of the Company and its results.
Fiscal Year 2024 Segment Financial Results
The Company manages its operations on an individual location basis. Financial information regarding each of the Company’s reportable segments are summarized in the tables below.
| 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, animalsafari.com/investor-relations.
All participants on the conference call will be invited to ask a question. You may also email your question to ralph@parksamerica.com 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, animalsafari.com/investor-relations.
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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