Economy & Economic Development  September 28, 2015

Vail Resorts quadruples profits for 2015 fiscal year

BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) quadrupled profits for its 2015 fiscal year that ended July 31, the company reported Monday, with further increases projected for 2016.

The Broomfield-based owner of several ski resorts, including Vail, Beaver Creek, Breckenridge and Keystone, posted net income of $114.8 million, or $3.07 per share, despite a fourth-quarter net loss of $70.1 million. The profit for the year was up from $28.5 million, or 77 cents per share, for the prior year.

Revenue climbed 11.6 percent to $1.4 billion. The company issued guidance, meanwhile, for its 2016 fiscal year of net income of between $118 million and $144 million.

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Vail shares were down 2.6 percent by mid-afternoon Monday to $104.67.

The company’s strength for 2015 was across the board. Skier visits climbed 6.5 percent to 8.2 million, and season pass revenue climbed 20.9 percent. The company said season pass sales through Sept. 20 for the 2015/2016 ski season are up 16 percent in units and 22 percent in sales dollars versus the same period a year ago.

Vail Resorts’ ancillary businesses were also strong with ski school, dining and retail/rental revenue climbing 12.9 percent, 10.2 percent and 3.2 percent respectively.

“With a strong U.S. economy and robust high-end consumer demand for ski vacations, we are continuing to leverage our network of vertically integrated resorts and sophisticated marketing to drive guest spending,” chief executive Rob Katz said in a press release.

The figures released Monday did not include comparisons to last year for Australian ski resort Perisher, which Vail Resorts purchased in June.

While the full-year figures were strong, Vail Resorts reported a fourth-quarter loss of $1.92 per share, though revenue climbed from $135.5 million to $162.1 million.

BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) quadrupled profits for its 2015 fiscal year that ended July 31, the company reported Monday, with further increases projected for 2016.

The Broomfield-based owner of several ski resorts, including Vail, Beaver Creek, Breckenridge and Keystone, posted net income of $114.8 million, or $3.07 per share, despite a fourth-quarter net loss of $70.1 million. The profit for the year was up from $28.5 million, or 77 cents per share, for the prior year.

Revenue climbed 11.6 percent to $1.4 billion. The company issued guidance, meanwhile, for its 2016 fiscal…

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