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Vail Resorts Inc. Message Board

  • futureripplemovers futureripplemovers Dec 9, 2013 6:27 PM Flag

    Vail Resorts Reports Fiscal 2014 First Quarter Results and Early Season Indicators

    Vail Resorts Reports Fiscal 2014 First Quarter Results and Early Season Indicators

    BROOMFIELD, Colo., Dec. 9, 2013 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today reported results for the first quarter of fiscal 2014 ended October 31, 2013 as well as certain early season indicators.

    Highlights
    •Resort Reported EBITDA loss, which includes the Company's Mountain and Lodging segments, was $66.5 million for the first fiscal quarter of 2014 versus a loss of $54.5 million in the same period in the prior year. This includes operating results of the Urban Ski Areas and Canyons, transactions in fiscal 2013, which generated $7.6 million of negative EBITDA, including $2.7 million of integration and litigation related costs (Canyons, together with the Urban Ski Areas, referred to collectively as the "Acquisitions").
    •Net loss attributable to Vail Resorts, Inc. was $73.4 million for the first fiscal quarter of 2014 compared to a net loss of $60.6 million in the same period in the prior year.
    •Sales of season passes through December 7, 2013 for the upcoming 2013/2014 ski season were up approximately 13% in units and approximately 16% in sales dollars versus the comparable period in the prior year, including the Acquisitions in both periods.
    •Company reissued guidance for Fiscal 2014, which was unchanged from guidance issued in September 2013.
    •In the first quarter of fiscal 2014, we closed on two Ritz-Carlton Residence units, and one One Ski Hill Place unit. Net Real Estate Cash Flow was $7.5 million for the first fiscal quarter of 2014.

    Commenting on the Company's fiscal 2014 first quarter results, Rob Katz, Chief Executive Officer said, "Our first fiscal quarter is historically a loss quarter since our mountain resorts are not open for winter ski operations during the period. The quarter is driven primarily by our late summer mountain activities, dining, retail and lodging operations, and administrative expenses for our year-round employees. Our Resort EBITDA

 
MTN
88.33-1.03(-1.15%)Sep 19 4:06 PMEDT

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