BROOMFIELD — The nation’s largest ski operator narrowed its loss in its fiscal fourth quarter because of its real-estate deals but said the economic downturn will trim profits next year.
For the quarter that ended July 31, Vail Resorts Inc. posted a loss of $11.1 million, or 29 cents per share, compared with a loss of $34.3 million, or 88 cents per share, in the same quarter last year.
Analysts polled by Thomson Reuters expected a loss of 21 cents per share.
The company also said its profit will likely decline next year because of a poor economy.
“We are certainly not immune to the dramatic challenges facing the economy today,” said chief executive Robert Katz.
The company said it expects net income of between $60 million and $76 million next year. In 2008, the company reported net income of $102.9 million, or $2.64 per share, a 68 percent increase from $61.4 million, or $1.56 per share, the previous year. Analysts anticipated net income of $90.2 million for the year.
Broomfield-based Vail Resorts owns and operates Vail, Beaver Creek, Keystone and Breckenridge ski areas in Colorado, Heavenly in Nevada and California, and the lodge near Jackson, Wyo.
