Vail Resorts Quarterly Loss Narrows

Vail Resorts Inc. on Monday posted a narrower quarterly net loss on higher revenue from the year-ago period. The ski-resorts operator said its fiscal first-quarter net loss was $59.6 million, or $1.63 a share, compared with a net loss of $64.3 million, or $1.77, a share, a year earlier. Total revenue was $174.6 million, up from $128.3 million in the same period last year. Analysts were expecting a loss of $1.75 a share on $167.8 million in revenue, according to a Thomson Reuters consensus estimate. "Given our first quarter results and the indicators we are seeing for the upcoming season, we are even more confident in our outlook for fiscal 2016," Vail Resorts said in a statement.