Getting your player ready...
Vancouver, British Columbia – Ski-resort giant Intrawest Corp. said it lost $21.5 million in the fourth quarter, largely because of the sale of stand-alone golf courses that required a write-down of its assets.
The loss amounted to 45 cents per diluted share for the quarter that ended June 30, Intrawest said late Monday.
The revenue for the quarter was $529.6 million.
A year earlier, the company had a profit of $2.6 million, or five cents a share, with revenues of $487.2 million.
Vancouver-based Intrawest has interests in 10 mountain resorts, including Copper Mountain, which it owns, and Winter Park, which it operates for the city of Denver.
Intrawest said the golf courses no longer met the company’s strategic objectives.
