Vail Resorts misses revenue forecasts

By Associated Press

BROOMFIELD, Colo. — Vail Resorts Inc. today  reported a fiscal first-quarter loss of $64.3 million.

On a per-share basis, the Broomfield, Colo.-based company said it had a loss of $1.77. Losses, adjusted for non-recurring gains, came to $2.05 per share.

The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for a loss of $2.05 per share.

The ski resort operator posted revenue of $128.3 million in the period, which missed Street forecasts. Analysts expected $133 million, according to Zacks.

Vail Resorts shares have increased 22 percent since the beginning of the year. The stock has risen 22 percent in the last 12 months.