Profits rise at TU Center
ALBANY The Times Union Center ended the year with a net operating profit of $826,341, up 64 percent from 2011, according to a news release issued Thursday by center officials.
The SGM-managed center took several cost-cutting measures last year in order to keep expenses down. Staff worked four-day work weeks, 10 hours a day, during the summer months to give the facility’s air condition system an extra day’s rest to save more than $100,000 on utility costs. Indirect expenses also shrunk last year by more than $400,000.
“Our staff worked hard in 2012 to cut expenses while maximizing revenues in conjunction with excellent sports and entertainment events that were presented throughout the year,” said SMG Regional General Manager Bob Belber in the release.
Although fewer events were held in 2012 compared to 2011, attendance numbers were higher at 457,000 compared to nearly 400,000 one year earlier.
In all, 121 events were held last year.