Vail Resorts on Thursday reported strong revenue and earnings from the final few months of the 2012-13 ski season along with record-setting season-pass sales this spring.
The company’s revenue rose 12 percent to $469.7 million for the third quarter of fiscal 2013, ended April 30, compared with the same quarter last year. Net income increased 22.7 percent to $97.6 million, $2.66 a share, for the quarter. Vail’s Epic Pass sales soared 18 percent in units and 24 percent in dollars — 138,000 season passes were sold, helping the company end the quarter with more than $237 million in cash.
The company’s last December helped fuel the season-pass surge, said Vail Resorts chief Rob Katz in a conference call with analysts.
Last week, Vail Resorts announced it had forged a 50-year lease to , adding to its quiver of ski areas available under its Epic Pass program. Katz said the addition of a Utah destination makes the Epic Pass “more appealing,” especially in the Los Angeles-Southern California market.
Dow Jones Newswires contributed to this report.
