Viad 4Q loss widens on charges, revenue rises

Viad 4th-quarter loss widens on charges, revenue climbs 3 percent

Associated Press

PHOENIX (AP) -- Trade show company Viad's fourth-quarter loss widened, pressured by a large tax-related charge.

For the three months ended Dec. 31, Viad Corp. lost $21.2 million, or $1.07 per share. That compares with a loss of $14.9 million, or 75 cents per share, a year earlier.

Removing 68 cents per share for unfavorable tax matters and 5 cents per share in restructuring charges, the company lost 34 cents per share.

Revenue increased 3 percent to $202.6 million from $197.4 million, driven by higher revenue from its U.S. and international marketing and events groups.

Full-year net income declined to $5.9 million, or 29 cents per share, from $9.2 million, or 45 cents per share, in the previous year.

Adjusted earnings from continuing operations were $1.09 per share.

Annual revenue for the Phoenix company rose to $1.03 billion from $942.4 million.

Going forward, Viad anticipates first-quarter earnings of 21 cents to 31 cents per share on revenue in a range of $268 million to $287 million.

Shares of Viad added 40 cents to $28.32 in morning trading on Friday.

Rates

View Comments