SeaWorld Delivers Disappointing Q2 Sales and Bleak 2014 Outlook

Shares of SeaWorld Entertainment moved lower on Wednesday after its quarterly results missed forecasts. The Florida based theme park operator delivered a profit of 43 cents a share, that's better than last year's loss, but more than a dime below estimates. Sales slipped to $405 million, almost 10% below expectations. More people visited the theme parks in the past quarter, but revenue per person fell about 2%. CEO Jim Atchison said, 'We were pleased to report attendance growth in the quarter despite a challenging industry, which included the attendance benefit from opening our largest expansion ever at SeaWorld Orlando.' However, SeaWorld announced pessimistic projection for the rest of 2014 and that is what is having an impact on its shares on Wednesday. SeaWorld says it expects full year sales to drop between 6% and 7% compared to a year earlier. TheStreet's Julia Sun has details from New York.