VAIL, CO— Vail Resorts Inc. restated earnings and other financial figures for fiscal 1999 through 2001 to reflect a change in how it recognizes private member club revenue, according to a Dow Jones report. In June, PricewaterhouseCoopers advised the company that private member club revenue should be amortized over 30 years, and historical financial results should be restated accordingly. PricewaterhouseCoopers had replaced Arthur Andersen as Vails auditor a month earlier. Vail said it previously recognized the revenue immediately or upon completion of certain milestones. SOURCE: Dow Jones
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