Peak Resorts Inc. (NASDAQ: SKIS) saw its shares prosper on Thursday on announcing noteworthy fiscal-year-end figures.
The Wildwood, Mo.-based company, a leading owner and operator of high-quality, individually branded U.S. ski resorts, reported revenues of $123.2 million, compared to $131.6 million in the prior-year.
Net loss amounted to $248,000, compared to a gain of $441,000 during the prior-year. Loss per share amounted to two cents, compared to a gain of three cents in the prior-year quarter.
CEO Timothy D. Boyd, commented, "Our strong fiscal fourth quarter results complete what was a record year for Peak Resorts, as we generated revenue growth of 9% and a 4% increase in Reported EBITDA in the fiscal 2018 fourth quarter.
"Although the winter brought significant weather-related challenges, our results from the 2017/2018 ski season, which spanned 145 operating days from its beginning in November to its end in April, demonstrate the value of our Peak Pass in adding stability to our financial performance.
“Our results also highlight the attractive returns we are achieving on our ongoing investments in mountain infrastructure which enable us to mitigate the impacts of adverse weather while providing guests with terrific on-mountain experiences.
As of April 30, 2018, the Company had cash and cash equivalents of $23.1 million and total outstanding debt of $180.9 million, including $12.4 million drawn against its revolving line of credit and long-term debt of $165.8 million, net of debt issuance costs and current portion.
Shares in Peak jumped 15 cents, or 2.9%, to $5.40 to begin Thursday trading.
