Great Wolf reports second-quarter loss

By Tom Daykin
Milwaukee Journal Sentinel

Great Wolf Resorts Inc. (WOLF) today reported a wider second-quarter loss, reflecting a shift in the timing of the Easter holiday and spring break.

The Madison-based operator of indoor water park resorts reported a loss of $4.1 million, or 13 cents a share, compared with a loss of $1.7 million, or 5 cents, a year earlier. The results beat the average analyst forecast of a loss of 14 cents a share, excluding items, according to Rueters Estimates.

Great Wolf posted revenue of $63 million, up 36.1 percent from $46.3 million. The increase included the results from new water park resorts that opened in the past year. Operating expenses were $63 million, up from $45.5 million.

The wider loss for Great Wolf reflected the shift in the timing of the Easter holiday and related spring break periods from the second quarter in 2007 to the first quarter in 2008, as well as increased depreciation and amortization and interest expense in 2008, the company said.

Great Wolf owns Blue Harbor and Conference Center in Sheboygan.