Vail beats Wall Street’s expectations |

Vail beats Wall Street’s expectations

eagle county correspondent

AVON ” In conjunction with good news from its second quarter report, Vail Resorts announced Monday it would repurchase up to 3 million shares of the company’s common stock.

That’s generally seen as a plus for shareholders, since such a purchase usually boosts the value of the stock.

“Our board took this action based upon our company’s continued strong financial condition and it reflects the board’s confidence in Vail Resorts’ growth potential, financial outlook, and excess cash flow generation,” said newly appointed chief executive Rob Katz. “We’re also committed to returning value to shareholders.”

Vail Resorts stock was trading at $37.13 at midday Monday, up 5.25 percent from Friday’s close.

Vail Resorts’ net income increased to $43 million, or $1.12 per share, from $32.2 million, or 89 cents per share, during the comparable quarter last year. Results include.

Excluding a $1.8 million stock option expense, profit for Vail Resorts in the second quarter was $44.1 million, or $1.15 per share, up from $32.4 million, or 90 cents per share, a year earlier.

Analysts were expecting a profit of 94 cents per share, including stock options expenses, according to a poll by Thomson Financial.

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