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Vail Resorts’ Earnings, Net Income Jump in Second Quarter

By Mimi Kmet
March 07, 2013 9:23 PM

Vail Resorts, Inc. reported significant increases in EBIDTA and net income results for the second quarter of fiscal 2013 ended Jan. 31. Resort reported EBITDA increased 17 percent for the second quarter of fiscal 2013 compared to the same period in the prior year.

Total net revenue in the second quarter of fiscal 2013 was $422.5 million, or a 13.2 percent increase, when compared to the same quarter in the prior year. Net income attributable to Vail Resorts, Inc. was $60.6 million, or $1.65 per diluted share, for the second quarter of fiscal 2013 compared to net income attributable to Vail Resorts, Inc. of $46.4 million, or $1.27 per diluted share, in the second quarter of the prior year.

Excluding the Kirkwood, Skiinfo, Afton Alps and Mt. Brighton acquisitions, all of which were acquired subsequent to the second quarter of fiscal 2012, total Mountain net revenue increased 9.5 percent for the second quarter of fiscal 2013 compared to the same period in the prior year. Mountain reported EBITDA increased 13.7 percent for the second quarter of fiscal 2013 compared to the same period in the prior year.

Total skier visitation increased 2.9 percent for the second quarter of fiscal 2013 compared to the same period in the prior year. Season-to-date skier metrics through March 3 across the company’s seven mountain resorts improved from its metrics release in mid-January, with increases in year-over-year growth in revenues in each line of business.

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