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Vail 4th quarter loss narrows as overall revenue rises 3 percent

Vail 4th quarter loss narrows as overall revenue rises 3 percent

Vail Resorts Inc., operator of Rocky Mountain ski resorts and luxury hotels, said Thursday its fiscal fourth-quarter loss narrowed as revenue rose 3 percent led by growth at its mountain operations.
Vail, whose resorts include Vail, Beaver Creek and Breckenridge, said it lost $31.3 million (euro24.68 million), or 80 cents per share, in the quarter ended July 31 versus a loss of $36.4 million, or $1 per share, last year.
Wall Street was looking for a loss of 79 cents per share, according to a Thomson Financial poll of analysts.
Overall net revenue rose to $124 million (euro97.76 million) from $120 million a year ago. Revenue from its mountain activities rose 11 percent to $39.2 million (euro30.91 million), while lodging revenue slid 17 percent to $42.5 million (euro33.51 million) as the company sold some hotels.
For the year, Vail's net income nearly doubled to $45.8 million (euro36.11 million), or $1.19 per share, from $23.1 million, or 64 cents a share, a year ago.
Annual revenue rose to $839 million (euro661.46 million) from $810 million a year ago. Mountain revenue rose 15 percent to $620.4 million (euro489.12 million) and lodging revenue added 21 percent to $155.8 million (euro122.83 million).
Looking ahead, Vail expects net income in 2007 between $48 million (euro37.84 million) and $57 million (euro44.94 million).


Updated : 2021-06-21 01:10 GMT+08:00