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Vail Resorts fiscal Q1 loss widens 6.9% YOY

Vail Resorts Inc. said its normalized net income for the fiscal first quarter ended Oct. 31 was a loss of $2.11 per share, compared with the S&P Capital IQ consensus estimate of a loss of $2.02 per share.

The per-share loss widened 6.3% year over year from $1.98.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $76.4 million, compared with a loss of $71.4 million in the year-earlier period.

The normalized profit margin dropped to negative 59.1% from negative 57.9% in the year-earlier period.

Total revenue climbed on an annual basis to $128.3 million from $123.4 million, and total operating expenses climbed 6.7% on an annual basis to $237.3 million from $222.4 million.

Reported net income came to a loss of $64.2 million, or a loss of $1.77 per share, compared to a loss of $73.5 million, or a loss of $2.04 per share, in the year-earlier period.