Bruin Sports Buys Video Streaming Firm Nike's North American Profits Take Dip Titleist Owner Acushnet Files For IPO Sources: DraftKings, FanDuel In Talks For Merger WME-IMG Expanding Its Chinese Business WinView Brings In $3.4M In Funding Round Under Armour To Lose $120M In Sales Acushnet Reportedly Prepping For IPO MP & Silva Sells Controlling Stake Judge OKs Sports Authority Sales Plan
LES OTTEN, MORE PROFIT: AMERICAN SKIING CO. REPORTS GAINS
Published February 27, 1998
ME-based American Skiing Co. announced that total revenues for the second quarter, ended January 25, increased to $115.3M from $61.2M for the comparable period last year. Net income for the second quarter of '97 was $6.6M, versus $.4M for the prior year. Resort revenue, which excludes revenues from real estate properties, increased to $107.4M from $59.4M in the second quarter of '96. America Skiing Co.'s total skier visits increased by 10.9% (ASC). MORE ON LES: In Boston, Stephen Jermanok profiled American Skiing Chair & CEO Les Otten: "The jury is still out on whether Otten has improved the American ski experience ... but even the purists admire what he has done to keep the sport alive. ... No one in the ski industry will be surprised if ASC continues to gobble up more ski resorts around the country. As its stock filing states: 'The Company intends to consider acquisitions of large, well- established destination resorts'" (BOSTON MAGAZINE, 2/98).