(By Balaseshan) Vail Resorts Inc. (NYSE:MTN) reported narrower than anticipated fourth quarter loss on strong momentum in summer revenues and enhanced summer guest visitation.
Loss per share widened to $1.50 from $1.49 in the year-ago quarter, yet narrower than market expectations of a loss of $1.56.
Net revenue increased 4.5 percent to $113.54 million, exceeded consensus estimates of $107.18 million.
Revenue from the company's Mountain segment grew 11.3 percent, while rising 0.7 percent and 4.5 percent at Lodging. Real Estate segment revenue declined 1.5 percent.
Vail Resorts said strength of season pass sales, an increase in effective ticket price, enhanced consumer spending resulting in double-digit growth in yield-per-skier visit, and higher international visitation contributed to positive revenue.
Sales of season passes through September 23, 2012 for the upcoming 2012/2013 ski season were up about 17% in units and about 21% in sales dollars versus last year.
Looking ahead for fiscal 2013, the Broomfield, Colorado-based company expects earnings of $50 million to $60 million and total reported EBITDA of $243 million to $261 million.
The company's guidance for fiscal 2013 anticipates a return to more normal weather conditions and the continuation of a challenging, but stable economic environment.
In addition, Vail Resorts said its Board of Directors has declared a quarterly cash dividend on common stock of $0.1875 per share, payable on October 25 to shareholders of record on October 10.
MTN shares, which have been trading between $35.27 and $56.99 over the past year, ended Monday's regular session down 2.48 percent at $52.73.