By Beth Potter, Boulder County Business Report

BROOMFIELD, Colo. – Vail Resorts Inc. reported income of $16.5 million for its fiscal year, and ski pass sales are up for the coming ski season, according to an earnings statement released Sept. 25.

Broomfield-based Vail Resorts said income fell from $34.5 million for the previous fiscal year.

Revenue revenue was $1.02 billion for fiscal 2012 compared with $1.17 million for fiscal 2011, a 12.2 percent decrease.

The company’s subsidiaries operate Vail, Beaver Creek, Breckenridge and Keystone ski areas in Colorado and Heavenly, Northstar and Kirkwood ski areas in the Lake Tahoe area.

Unseasonably warm weather during the 2011-12 ski season kept skiers away from the mountains. Skier visits were down to 6.1 million from 7 million at the resorts in 2010-11, according to Vail Resorts.

“I am very proud of our results, given that the 2011-2012 ski season was the most challenging winter in the history of the United States ski industry,” Rob Katz, Vail Resorts’ chief executive, said in a press statement.

“The strength of our growing season pass business and the comprehensive and differentiated experience we provide at our resorts stabilized our revenues in the face of very challenging weather, Katz said.

About 178,000 season ski passes have been sold for the upcoming 2012-13 season, an increase of 17 percent from the same time last year, Katz said in the press statement. Season pass calculations were adjusted as if the Kirkwood ski area were owned in both periods, according to the press statement.

Company subsidiary RockResorts operates hotel properties around the world. Vail Resorts Development Co. is the company’s real estate arm.