Second quarter numbers up for American Skiing Co. | TahoeDailyTribune.com
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Second quarter numbers up for American Skiing Co.

NEWRY, Maine- American Skiing Co. on Tuesday posted a $10.4 million net loss for the second quarter, citing record revenues and skier visits that accompanied favorable weather at most of its resorts as factors behind its improved results.

The loss came to 34 cents per basic and fully diluted share. For the same three-month period last year, American Skiing lost $15.1 million, or 50 cents per share.

The company’s resorts include Killington, Mount Snow and Sugarbush in Vermont; Sunday River and Sugarloaf/USA in Maine; Attitash Bear Peak in New Hampshire; Steamboat in Colorado, The Canyons in Utah and Heavenly in California and Nevada.



Revenues for the three months ended January 28 totaled $156.3 million, compared with $126.6 million for the same period in 2000. Resort revenue was $125.5 million for the quarter, up from $104.5 for the same period last year. Real estate revenue was $30.7 million, compared to $22.1 million.

Total earnings before interest, taxes, depreciation and amortization were $27.9 million for the quarter, compared with $14.3 million for the same period last year, the company said.



The company said investments made in the last several years at its resorts were paying off.

”During the second quarter, we saw growth in skier visits and revenue per skier visit from coast to coast as a result of more normal winter weather, the first full year of bed base at the Canyons, contributions from the Heavenly gondola and improved snowmaking capacity at Killington,” Chairman Leslie B. Otten said.


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