Vail Resorts trims 4th-quarter loss
BROOMFIELD ” Broomfield-based Vail Resorts says it narrowed its fiscal fourth-quarter loss, thanks in part to an increase in revenue from the company’s real estate unit.
Vail Resorts is reporting a loss of $11.1 million, or 29 cents a share, for the quarter ending July 31st. That compares with a loss of $34.3 million, or 88 cents a share, during the same period a year ago.
The results fell short of estimates. Analysts surveyed by Thomson Reuters had expected a loss of 21 cents per share.
Revenue figures beat analysts’ expectations. Vail Resorts says revenue more than doubled in the fourth quarter to $270.5 million, up from $96.5 million. Analysts had forecast revenue of $248.8 million.
For the fiscal year, Vail Resorts says profit rose 68 percent to $102.9 million.
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