Peak Resorts Q4 Profit Rises

(RTTNews) - Ski resorts operator Peak Resorts, Inc. (SKIS) reported that net income for the fourth quarter increased to $9.78 million from $8.54 million in the year-ago quarter, while earnings per share plunged to $0.70 from last year's $2.14, due to higher share count.

On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.70 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter edged down to $47.05 million from $47.81 million in the same quarter last year, but missed four Wall Street analysts consensus estimate of $48.02 million.

The Board also declared a third quarterly cash dividend of 13.75 cents per share of common stock with the current indicated annualized dividend at 55 cents per share.

"Overall, we are excited to be implementing our roadmap for growth, which calls for a mix of organic growth, resort development and acquisitions. We continue to evaluate potential value-add acquisitions," President and CEO Timothy Boyd said.

Peak Resorts went public in November 2014 following its initial public offering of 10 million shares priced to the public at $9.00 per share.