Vail Resorts Inc. reported a 34.2 percent increase in net income for its fiscal year 2007, which ended July 31. Revenue for the company was $827.8 million for the year, a 6.6 percent increase over the previous year.
The largest ski company in North America, based in Broomfield, also recorded a net loss of $34.3 million in the fourth quarter.
The company owns and operates Vail, Beaver Creek, Breckenridge and Keystone in Colorado, Grant Teton Lodge Co. in Wyoming, and Heavenly in Nevada and California.
Chief executive Robert Katz said the fourth-quarter loss was expected.
Net income for the year was $61.4 million, or $1.56 per share, compared with $45.8 million, or $1.19 per share, for the previous year.
Katz said destination visits, ticket prices and season-pass revenue supported the increased results. Revenue from ski schools, dining, retail and lodging also contributed to the increase.
“I am very pleased with our fiscal 2007 results,” he said in a statement.
He also pointed to an increase in the mountain-segment revenue. Last season, Breckenridge, Vail and Keystone were named the three most-visited ski resorts nationwide, and Heavenly and Beaver Creek ranked in the top 10.
Staff writer Elizabeth Aguilera can be reached at 303-954-1372 or eaguilera@denverpost.com.
