Vail Resorts Soars After Q4 Results
Shares of Vail Resorts (NYSE: MTN) surged on Tuesday after the company released strong fourth quarter results. At last check, the stock was up a little less than 12 percent to $59.00. The company announced a net loss for the quarter of $53.79 million or $1.50 per share, compared to $53.91 million or $1.49 per share, in the year ago period. This came in ahead of Wall Street analysts' consensus EPS estimates of a loss of $1.56.
Net revenues for the quarter were $113.54 million from $108.67 million last year. This also came in better than analysts' estimates of $107.18 million.
Rob Katz, CEO of Vail Resorts, commented that "In the fourth-quarter, our Resort Reported EBITDA was improved compared to the prior year, reflecting enhanced summer guest visitation."
Looking ahead to fiscal 2013, Vail Resorts sees net income attributable to the company in a range of $50 million to $60 million. EBITDA is expected to be between $260 million to $270 million, which represents an increase of 27 percent to 32 percent over reported EBITDA in fiscal 2012.
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