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VAIL RESORTS POSTS FIRST QUARTER NET LOSS OF $20.8M
Published December 12, 1997
Vail Resorts posted a net loss of $20.8M for the first quarter, "the slowest period for the ski company under a new reporting system," according to Erika Gonzalez of the ROCKY MOUNTAIN NEWS. Vail recently changed its FY-end from September 30 to July 31, pushing the majority of the season into the second and third quarters. Net revenue during the quarter declined "slightly" to $28.5M from $29M during the 1Q of '96. The company's $20.8M loss during the quarter represents a 2.5% increase over the $16.5M loss reported in the first quarter of '96 (ROCKY MOUNTAIN NEWS, 12/11). Vail Resorts operates Vail, Beaver Creek, Keystone and Breckenridge ski resorts (GAZETTE TELEGRAPH, 12/11). AGENCY NEWS: Vail Resorts has selected Dallas-based Brierley & Partners to handle its direct marketing and interactive account, previously handled in-house. Billings were estimated at $4M (N.Y. TIMES, 12/11).