Summer may be upon us, but its benefits apparently haven't been bestowed upon Great Wolf Resorts (NASDAQ:WOLF) as of yet. Today the company, which provides upscale family resorts with indoor water parks, said that its second quarter will come in a bit light.

This likely comes as a great disappointment to investors, and indeed, the stock was down 9% at my last check. Just a little more than a month ago, Great Wolf shares enjoyed some euphoria after the company revealed an upbeat quarter and announced a nice deal with Viacom (NYSE:VIA) in which its resort will cozy up to a Paramount amusement park.

Great Wolf said it "underestimated" budgeting, seeing how it had inaccurately assessed how much a shift in the Easter holiday would affect its quarter, and also cited increased competition in several of its markets. Great Wolf now anticipates a loss of $1 million, or $0.03 per share, in the second quarter -- certainly a disappointment considering the company had previously seen a loss of $0.4 million to a profit of $0.2 million. The company also reduced its full-year earnings forecast.

Great Wolf Resorts, a Motley Fool Rule Breakers pick, could be considered a company that's a bit wet behind the ears -- it went public a mere six months ago. Indeed, some upbeat quarters have come to pass in the duration. A compelling aspect of why this stock is a Motley Fool Rule Breakers selection is that it's still early in its growth cycle. Several development projects as Great Wolf increases its competitive presence are testament to that.

Of course, longtime Fool Rick Munarriz summed up some of the risks and rewards way back in December, right after the stock made its debut. Indeed, although he cited the positives about this pioneering stock, he pinpointed the company's Sandusky market as a possible trouble spot, and according to today's information, that's exactly where Great Wolf stumbled, citing increased competition. On the other hand, the company assured that it takes a positive long-term view of the market.

Of course, it stands to reason that the coming growth might contain some missteps along the way. With that in mind, of course, today's word may prove to be only a temporary hiccup, and so many of us know that investing is for the long haul while skipping some of the interim drama. Time will tell, but for now, investors should likely try to stay cool.

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Alyce Lomax does not own shares of any of the companies mentioned.