EX-99.1 2 ex99-1.htm

 

Exhibit 99.1

 

Parks! America, Inc.

Reports First Quarter Fiscal Year 2025 Financial Results

 

Management to host conference call on Monday, February 10, 2025, at 4:30 PM ET

 

PINE MOUNTAIN, Georgia, February 7, 2025 — Parks! America, Inc. (OTCPink: PRKA), today announced its financial results for the first quarter of fiscal year 2025 ended December 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 Form 10-Q, which has been posted on the Company’s website animalsafari.com/investor-relations, for a complete view of the Company and its results.

 

Year-to-Date Fiscal 2025 Segment Financial Results

 

The Company manages its operations on an individual location basis. Financial information regarding each of the Company’s reportable segments is summarized in the tables below.

 

   For the three months ended 
   December 29, 2024   December 31, 2023 
Total revenues:          
Georgia  $1,110,718   $1,240,010 
Missouri   289,761    241,721 
Texas   369,979    415,894 
Consolidated  $1,770,458   $1,897,625 
           
Income (loss) before income taxes:          
Georgia  $333,946   $365,842 
Missouri   (49,228)   (106,768)
Texas   (51,999)   (36,025)
Segment income   232,719    223,049 
Corporate expenses   270,352    317,686 
Depreciation and amortization   208,548    223,203 
(Gain) loss on asset disposals, net   (52)   14,417 
Contested proxy and related matters, net   (567,157)   126,640 
Other (income), net   (13,382)   (35,887)
Interest expense   57,469    51,445 
Consolidated  $276,941   $(474,455)

 

   For the three months ended 
   December 29, 2024   December 31, 2023 
Depreciation and amortization:          
Georgia  $89,416   $91,389 
Missouri   53,778    56,400 
Texas   64,940    75,000 
Corporate   414    414 
Consolidated  $208,548   $223,203 
           
Capital expenditures          
Georgia  $495,776   $90,677 
Missouri   7,900    14,774 
Texas   97,800    124,715 
Consolidated  $601,476   $230,166 

 

 
 

 

   As of 
   December 29, 2024   September 29, 2024 
Total assets:          
Georgia  $7,574,529   $7,520,918 
Missouri   3,032,986    3,399,324 
Texas   7,818,685    7,812,661 
Corporate   274,338    461,168 
Consolidated  $18,700,538   $19,194,071 
           
Total cash & short-term investments:          
Georgia  $1,512,002   $1,800,623 
Missouri   557,188    870,918 
Texas   539,323    570,122 
Corporate   52,689    82,705 
Consolidated  $2,661,202   $3,324,368 
           
Asset less cash & short-term investments:          
Georgia  $6,062,527   $5,720,295 
Missouri   2,475,798    2,528,406 
Texas   7,279,362    7,242,539 
Corporate   221,649    378,463 
Consolidated  $16,039,336   $15,869,703 

 

Conference Call and Webcast Details

 

The Company will host a conference call to review its financial results of the first quarter of fiscal year 2025 on February 10, 2025, 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 have the opportunity 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