Operating Income Up But Profits Down at Universal Orlando

ORLANDO-A heavy debt load is eating up the theme park's profits, notes the resort's parent, Seagram Co. The loss in fourth quarter 1999 was $15 million compared to a loss of $7 million in the comparable 1998 fiscal year.

By Alex Finkelstein | September 06, 2000 at 01:01 AM

The park showed operating revenue of $17 million for fourth quarter 1999 compared with $9 million in the same 1998 period.

The revenue, however, wasn't enough to stanch the red ink. Universal lost $98 million for the fiscal year ended June 30. That compares with a profit of $37 million in fiscal 1998. The resort is banking on the new Universal Orlando name to generate new tourist dollars this year.

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