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Filing in Focus: Marriott Vacations 10-Q, October 10, 2013
Marriott Vacations Worldwide Corp. (VAC) announced its third quarter financial results for the fiscal year 2013, detailing results that topped analyst predictions. The company, which was spun off from Marriott International Inc. (MAR) in 2011, reported profits of $25M and $0.67 earnings per share, up from $5M and $0.12 per share a year ago. Analysts were hoping from $400M in revenue with $0.39 earnings per share. Marriott Vacations is focused on selling timeshares, an industry that was severely impacted in recent years, but has seen steady growth at Marriott. Timeshare sales were $162M, or 39% of the company’s overall revenue. Overall revenue increased 7.6% to $412M while rental revenues improved 14% to $65M.