In This Article:
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.
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| For the three months ended |
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| For the year ended |
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| September 29, 2024 |
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| October 1, 2023 |
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| September 29, 2024 |
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| October 1, 2023 |
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| Total revenues: |
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| Georgia |
| $ | 1,471,131 |
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| $ | 1,770,394 |
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| $ | 5,960,259 |
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| $ | 5,873,526 |
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| Missouri |
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| 718,543 |
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| 631,285 |
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| 2,036,280 |
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| 1,692,765 |
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| Texas |
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| 418,017 |
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| 451,593 |
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| 1,915,721 |
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| 1,873,957 |
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| Consolidated |
| $ | 2,607,691 |
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| $ | 2,853,272 |
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| $ | 9,912,260 |
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| $ | 9,440,248 |
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| Income (loss) before income taxes: |
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| Georgia |
| $ | 570,862 |
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| $ | 689,362 |
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| $ | 2,294,879 |
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| $ | 2,054,001 |
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| Missouri |
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| 290,333 |
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| 227,281 |
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| 457,219 |
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| 257,379 |
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| Texas |
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| (29,216 | ) |
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| 8,349 |
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| 72,921 |
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| 27,577 |
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| Segment EBITDA |
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| 831,979 |
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| 924,992 |
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| 2,825,019 |
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| 2,338,957 |
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| Corporate expenses |
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| (300,274 | ) |
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| (269,691 | ) |
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| (1,211,764 | ) |
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| (1,198,652 | ) |
| Depreciation and amortization |
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| 199,319 |
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| 235,702 |
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| 871,967 |
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| 884,459 |
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| Loss on asset disposals, net |
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| 26,980 |
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| 286,562 |
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| 62,734 |
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| 317,146 |
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| Contested proxy and related matters, net |
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| 2,988 |
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| - |
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| 2,040,810 |
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| - |
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| Tornado expenses and write-offs, net |
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| - |
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| 5,359 |
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| (53,755 | ) |
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| 368,955 |
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| Legal settlement |
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| - |
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| - |
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| 75,000 |
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| - |
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| Other income, net |
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| 31,623 |
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| 15,522 |
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| 132,948 |
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| 80,230 |
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| Interest expense |
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| (81,729 | ) |
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| (52,657 | ) |
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| (229,244 | ) |
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| (222,396 | ) |
| Consolidated |
| $ | 252,312 |
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| $ | 90,543 |
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| $ | (1,479,797 | ) |
| $ | (572,421 | ) |
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| For the year ended |
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| September 29, 2024 |
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| October 1, 2023 |
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| Depreciation and amortization: |
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| Georgia |
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| $ | 357,522 |
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| $ | 324,252 |
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| Missouri |
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| 231,734 |
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| 275,533 |
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| Texas |
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| 281,055 |
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| 283,020 |
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| Corporate |
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| 1,656 |
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| 1,654 |
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| Consolidated |
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| $ | 871,967 |
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| $ | 884,459 |
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| Capital expenditures: |
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| Georgia |
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| $ | 593,515 |
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| $ | 1,208,762 |
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| Missouri |
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| 100,428 |
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| 134,987 |
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| Texas |
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| 213,012 |
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| 214,095 |
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| Consolidated |
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| $ | 906,955 |
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| $ | 1,557,844 |
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| As of |
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| September 29, 2024 |
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| October 1, 2023 |
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| Total assets: |
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| Georgia |
| $ | 7,520,918 |
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| $ | 8,519,619 |
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| Missouri |
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| 3,399,324 |
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| 3,335,794 |
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| Texas |
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| 7,812,661 |
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| 7,698,400 |
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| Corporate |
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| 461,168 |
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| 541,910 |
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| Consolidated |
| $ | 19,194,071 |
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| $ | 20,095,723 |
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| Total cash & short-term investments: |
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| Georgia |
| $ | 1,800,623 |
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| $ | 3,047,188 |
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| Missouri |
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| 870,918 |
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| 671,423 |
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| Texas |
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| 570,122 |
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| 312,563 |
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| Corporate |
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| 82,705 |
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| 67,213 |
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| Consolidated |
| $ | 3,324,368 |
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| $ | 4,098,387 |
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| Asset less cash & short-term investments: |
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| Georgia |
| $ | 5,720,295 |
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| $ | 5,472,431 |
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| Missouri |
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| 2,528,406 |
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| 2,664,371 |
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| Texas |
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| 7,242,539 |
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| 7,385,837 |
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| Corporate |
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| 378,463 |
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| 474,697 |
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| Consolidated |
| $ | 15,869,703 |
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| $ | 15,997,336 |
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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.