Vail Resorts 4Q Loss Widens, Revenue Climbs

Earnings Associated Press

Vail Resorts' (MTN) fiscal fourth-quarter loss widened partly because expenses rose.

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The ski resort operator lost $75.4 million, or $2.08 per share, for the three months ended July 31. That compares with a loss of $59.9 million, or $1.67 per share, a year earlier.

Analysts surveyed by FactSet expected a loss of $2.03 per share.

Operating expenses climbed to $193.6 million from $168.7 million. The quarter also included a $10.8 million loss on debt extinguishment.

Revenue rose 21 percent to $135.5 million from $112.3 million, beating Wall Street's estimate of $128.7 million.

For the year, Vail Resorts Inc. earned $28.5 million, or 77 cents per share. In the previous year the Broomfield, Colorado-based company earned $37.7 million, or $1.03 per share.

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The company said its earnings were hampered by the loss on debt extinguishment.

Annual revenue increased 12 percent to $1.25 billion from $1.12 billion.

Sales of season passes through Sept. 21 for the upcoming ski season rose about 14 percent. Vail Resorts said that historically about 55 percent to 60 percent of its total season pass sales are made by this date.

Total skier visits for fiscal 2014 increased 10.2 percent from a year ago. Ticket prices climbed 4.9 percent, excluding season pass holders.