Vail Resorts Reports Improved 1Q

VAIL, CO Vail Resorts released financial results for the first quarter of fiscal 2001, which ended October 31, 2000. Resort revenue, which excludes revenue from real estate operations, for the quarter increased 8.1% to $61.5 million from $56.9 million in the comparable period of fiscal 2000. Total revenues for the quarter, which includes revenues from real estate operations, grew 7% to $70.4 million versus $65.8 million last year. For the first quarter of fiscal 2001, the company reported a loss from resort operations before interest, income taxes, depreciation and amortization (“Resort EBITDA) of $18.5 million compared to a loss of $20.4 million last year, an improvement of 9.5%. Losses in the fiscal first quarter are anticipated due to the seasonality of the companys ski resort operations. (12/7/00)