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Parks America Inc (PRKA0.00%) has submitted its 10-Q filing for the quarterly period ended December 29, 2024.
The filing includes financial statements for the quarter, showing total revenues of $1,770,458, a decrease from $1,897,625 in the same quarter the previous year. Park revenues were $1,719,030, down from $1,809,234, while animal sales were $51,428, down from $88,391.
Cost of sales for the quarter was $251,662, compared to $295,934 in the same quarter of the previous year. Selling, general, and administrative expenses decreased to $1,556,429 from $1,696,328.
The company reported a net income of $193,041 for the quarter, compared to a net loss of $369,255 in the previous year. Income before income taxes was $276,941, compared to a loss of $474,455 the previous year.
Cash used in operating activities was $54,797, while cash provided by investing activities was $260,966. Cash used in financing activities was $34,261.
As of December 29, 2024, Parks America had total assets of $18,700,538, compared to $19,194,071 as of September 29, 2024. Total liabilities were $4,559,270, down from $5,245,844.
The filing also discusses a contested proxy and related matters, with insurance proceeds of $567,157 received during the quarter, reducing related expenses.
Parks America continues to operate three regional safari parks and is focused on maintaining and improving its entertainment assets. The company's parks are open year-round, with peak attendance typically occurring from March to September.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Parks America Inc quarterly 10-Q report dated February 7, 2025. To report an error, please email earnings@qz.com.