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Published: Friday, 5/2/2003

Earnings: Cedar Fair posts quarterly loss

SANDUSKY - Cedar Fair LP, which owns Cedar Point and other amusement and water parks nationwide, yesterday reported a net loss of $31.5 million, or 62 cents a share, in the first quarter compared with a loss of $34 million, or 67 cents, for the same period a year ago.

The first three months of the year are a slow period for the company, as only one of its parks is operating. But revenues for the quarter also were down compared with a year ago, at $21.5 million from $23.9 million. The company expressed optimism about this year's performance given the firm's new $25 million Top Thrill Dragster roller coaster at Cedar Point.

Health Care REIT Inc. yesterday reported a first-quarter profit of $16.5 million, or 41 cents a share, compared with $12.5 million, or 37 cents a share, for the same period a year ago. Revenues for the Toledo real-estate investment trust also rose to $46.3 million for the quarter, up from $36 million a year earlier.

Its funds from operations, a common benchmark in the REIT industry, also increased, to $28 million from $R21 million a year earlier.

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