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Vail Resorts third-quarter net income, spring pass sales up
Jun 13, 2013 - The Associated Press
BROOMFIELD, Colo. -- Vail Resorts said June 6 that its earnings rose 23 percent in its fiscal third quarter, as late spring snow helped boost skier visits to its Colorado resorts and visitors proved willing to spend on food, lessons and gear.
The Broomfield-based company reported net income of $97.6 million, or $2.66 per share, for the three months that ended April 30. That's up from $79.5 million, or $2.17 per share, during the same period last year. Analysts had forecast earnings of $2.74 per share.
Revenue climbed 12 percent to $469.7 million.
Vail Resorts Inc. operates the Vail, Beaver Creek, Breckenridge and Keystone resorts in Colorado; Heavenly, Northstar and Kirkwood in the Lake Tahoe area; Afton Alps in Minnesota; Mount Brighton in Michigan; and Grand Teton Lodge Co. in the Jackson area. Last month, it announced it has reached a deal to also operate Canyons in Park City, Utah.
Excluding recently purchased Kirkwood, Afton Alps and Mount Brighton, skier visits climbed 9.1 percent from a year ago. Visits to the company's Colorado resorts were up 11.8 percent, but Heavenly and Northstar together saw a 0.4 percent decline in skier visits after an unusually warm, dry spring, Vail Resorts said.