BROOMFIELD, Colo.—Vail Resorts Inc. says it posted a wider loss in the first quarter of fiscal 2009, compared with the prior year, when the resort operator benefited from a hefty one-time gain.
The company said Tuesday its losses totaled $34.5 million, or 93 cents per share, compared with losses of $24.6 million, or 63 cents per share, a year ago. Vail Resorts noted that a gain of $11.9 million contract dispute credit was included in the prior year results.
Quarterly revenue jumped 56 percent to $152.8 million, from $97.9 million in the first quarter of fiscal 2008. Vail Resorts’ revenue was boosted by the timing of real estate transactions during the quarter.
Analysts surveyed by Thomson Reuters forecast a loss of 83 cents per share on revenue of $138.9 million.
