Vail Resorts loss widens on acquisition costs

Vail Resorts reports wider loss in fiscal 1Q due to ski resort acquisitions

Associated Press

BROOMFIELD, Colo. (AP) -- NEWS: Ski resort operator Vail Resorts reported a wider first-quarter loss Monday due to expenses from its recent acquisitions of several ski resorts.

DETAILS: The Broomfield, Colo.-based company said it typically reports a loss in the August-October period because its ski operations are not open for business. In this year's quarter, it had $2.7 million in costs related to integrating the acquisitions and to litigation. Its new ski facilities include the Canyons ski area in Park City, Utah and ski areas near Minneapolis and Detroit.

In the Mountain unit, sales rose 10 percent to $57.3 million, helped by summertime visits. Looking ahead to the winter season, Vail reports season pass sales are up 13 percent through Dec. 7 compared with a year ago.

NUMBERS: Overall, Vail reported a loss of $73.4 million, or $2.04 per share, compared with a loss of $60.6 million, or $1.70 per share, in the same period last year. Sales increased 6 percent to $123.4 million.

Analysts polled by FactSet expected a loss of $1.91 per share on sales of $121.2 million.

STOCK: Shares of Vail Resorts Inc. rose $1.08, or 1.44 percent, to close at $75.98. They were unchanged in aftermarket trading.

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