Fiscal 2006 Second Quarter Results
On a GAAP basis, net loss attributable to common
shareholders for the
second quarter of fiscal 2006 was $11.2 million decrease in depreciation and
amortization expense and
a $0.4 million for
the 27 weeks ended January 30, 2005. The decreased
loss was associated with a $5.3 million over the prior year,
due to the fact that the fiscal 2006
period contained one less weekly
operating period.3 million decrease in depreciation and
amortization
expense and a $0. Excluding
other items, the loss from real estate operations was $1.69)
$(1. Gone are the days of male-dominated skiing and snowboarding. Girls of all ages and abilities will
compete in a jam format
(random order), multiple rail event for over $2,000 in prizes.com
SIDEBAR:
Final Days for Intrawest's Home + Away Deal
Skiers and boarders have just over a month left to
take advantage
of Intrawest's Home + Away Offer, which includes 4 free lift tickets
per person
to Stratton Mountain in Vermont or New Jersey's Mountain
Creek.
skiboarding adaptive
American Skiing Company Announces
Record High Revenues in Fiscal 2006 Second Quarter
Despite these challenges, the company
achieved a record high level of
resort revenues on a same-resort basis for each of the second quarter
(an
increase of 6% over the prior fiscal year quarter) and first six months of
fiscal 2006.7 million
for the comparable period
in fiscal 2005.1 million. The increase in
resort revenues reflects
the higher business volumes in December of fiscal
2006 relative to the prior fiscal year.8 million
increase in resort revenues, a $0.5 million impairment loss on the sale of retail commercial
property
at the Steamboat Grand Hotel; partially offset by a $1.89)
Weighted average
common shares
outstanding
- basic and diluted 31,738 31,738 31,738 31,738
For more information, please refer to the Company's Form 10-Q, filed on
March 15, 2006
, with the Securities and Exchange Commission.8% 6,199 5,588 10.Former Club Med G.O. Competes
in 2006 Winter Games
winter summertime
3 million, or $0.6 million for 26 weeks ended January 29, 2006 versus $4.1 million
increase in net gain on sale of property, a $6.0 million
decrease in write-off of deferred financing
costs and loss on extinguishment
of senior subordinated notes and a $1. However, non-GAAP financial
measures should not be considered in
isolation from, or as a substitute for, financial information
prepared in
accordance with GAAP.
Business Editors/Feature Editors
FEATURE.
Participants
receive personalized coaching, video analysis,
camaraderie, enhanced strength, skill and style on
the slopes through
a variety of clinics for beginners, such as Magic Trax for would-be
skiers
to the advanced Girls Go for Gates.
Those who book a 5-night 4-day package, including luxury lodging
and lift tickets (prices start at $273 per person) to Tremblant (QUE),
Whistler Blackcomb (BC
), Copper Mountain (CO) or Winter Park (CO) can
use the free tickets to Stratton or Mountain Creek
before the big trip
to get warmed up or after to keep the vacation going (with no blackout
dates
!)
Reservations must be made via Intrawest's call center by calling
1-888-INTRAWEST or through
the company's website at
www.snowboarder snowboards
Total consolidated revenue was
$112.2 million for the 27 weeks
ended January 30, 2005.
Recent Trends
Despite record second fiscal quarter revenues
, the Company expects some
negative financial impact to its third fiscal quarter revenues as a result
of
adverse weather at its eastern resorts in February. The company has provided reconciliations
from GAAP financial
measures to non-GAAP financial measures in the tables following this
discussion
. We
caution the reader that this list is not exhaustive. The forward-
looking statements included
in this press release are made only as of the date
of this document and under Section 27A of the
Securities Act and Section 21E
of the Exchange Act, we do not have or undertake any obligation to
publicly
update any forward-looking statements to reflect subsequent events or
circumstances.
6%) 2,884 3,530 (18.
For more information on any of the events listed, call Suzan
French
, MSCO, 914-251-1500, ext.intrawest.
serfas trick
* Excellent conditions and visitation levels in the
West and strong
holiday results despite January weather difficulties in the East.0 million
increase in the fair value of
the interest rate swap agreement; partially offset by a $0.4 million
increase in net interest expense.
Management believes these non-GAAP metrics are useful to investors
because
they remove certain items that occur in the affected periods and provide a
basis for measuring
the company's results of operations and financial
condition against other periods. In addition to
factors discussed above, other factors that could cause actual results,
performances or achievements
to differ materially from those projected
include, but are not limited to, the following: changes
in regional and
national business and economic conditions affecting both our resort operating
and
real estate operating segments; competition and pricing pressures; adverse
weather conditions regionally
and nationally; changes in weather patterns
resulting from global warming; seasonal business activity;
increased gas and
energy prices; changes to federal, state and local regulations affecting both
our
resort operating and real estate segments; failure to renew land leases
and forest service permits;
disruptions in water supply that would impact
snowmaking operations; the loss of any of our executive
officers or key
operating personnel; and other factors listed from time to time in our
documents
we have filed with the Securities and Exchange Commission.
Club Med is extremely proud to be part
of Robel Teklemariam's journey to
achieving his dream.O.
"Club Med gave me the opportunity
to continue training and even
competing.trick snowboarders
Revenue from real estate operations
was $2.6 million
,
compared to a loss of $15.7 million for the comparable
quarter in fiscal 2005. Revenue from
real estate operations
was $5.
American Skiing Company and Subsidiaries
Unaudited Condensed Consolidated Financial Statement Information
(in thousands except per share amounts)
13 Weeks 14 Weeks
26 Weeks 27 Weeks
Ended Ended Ended Ended
January 29, January 30, January 29, January 30,
Net revenues:
2006 2005 2006 2005
Resort $109,887
$103,411 $127,034 $121,231
Real estate 2,612 2,663 5,581
4,389
Total net
revenues 112,499 106,074 132,615
125,620
Operating expenses:
Resort 67,766 67,786
91,729 91,395
Real estate 3,443 2,155 5,385 3,263
Marketing, general
and administrative 17,885 16,210 29,453
27,027
Depreciation and
amortization 13,061 14,400 15,971
16,679
Gain on sale of
property -- -- (169
) --
Impairment loss on
property sold -- --
1,533 --
Total operating
expenses 102,155 100,551
143,902 138,364
Income (loss) from
operations 10,344
5,523 (11,287) (12,744)
Interest expense
and other, net 22,015
21,684 43,269 41,137
Write-off of deferred
financing costs and
loss on extinguishment
of senior subordinated
notes --
5,983 -- 5,983
Increase in fair value
of interest rate
swap agreement (350) -- (1,036) --
Net loss
$(11,321) $(22,144) $(53,520) $(59,864)
Basic and diluted
net loss per
common share:
Net loss $(0.4% $55,764 $52,914 5.7% 12,114
12,146 (0.
Women's Week, Whistler Blackcomb, British Columbia,
February 5-13, 2005
It's all about women during Whistler Blackcomb's resort-wide
Women's Week.answered helmets
* Record
high resort revenues for the second fiscal quarter and fiscal
year to date (on a same-resort
basis).
PARK CITY, Utah, American Skiing
Company (OTC Bulletin Board: AESK) today announced
its financial results for
the second quarter of fiscal 2006.1 million, or $0. The $109. The decreased
loss was associated with a $6.5 million increase in net interest expense.
Excluding other items,
the loss from resort operations was $9.
About American Skiing Company
Headquartered
in Park City, Utah, American Skiing Company is one of the
largest operators of alpine ski, snowboard
and golf resorts in the United
States. The fun continues on Saturday with a half-pipe jam contest
,
festival, music and a free women's health symposium.snowu boarder
1 million for the second quarter of fiscal 2005
.3 million, compared to a net loss of $16.1 million
decrease in revenues, a $1. Total consolidated
revenue was
$132.4 million increase in marketing, general and
administrative expenses and a $2
.
The loss from real estate operations was $3.1 million for the 26 weeks
ended January 29,
2006 compared with a loss of $1. In particular, the
company has excluded gain on sale of property
, impairment loss on property
sold and write-off of deferred financing costs and loss on extinguishment
of
Senior Subordinated Notes from net income or loss, income or loss from resort
operations and
income or loss from real estate operations, where applicable. Its resorts include Killington, Pico and
Mount Snow in Vermont; Sunday
River and Sugarloaf/USA in Maine; Attitash in New Hampshire; Steamboat
in
Colorado; and The Canyons in Utah.
Certain statements contained in this press release
constitute forward-
looking statements within the meaning of Section 27A of the Securities Act of
1933, as amended (the Securities Act), and Section 21E of the Securities
Exchange Act of 1934
, as amended (the Exchange Act). On the mountain, women can join a "no-men-allowed" ski
or ride camp
with levels ranging from Burton's Learn to Ride for
beginning snowboarders to the advanced ski program
Women on the Edge
that "breaks the powder ceiling by pushing women beyond their comfort
zone.
)
Sisterhood Winter Rally, Stratton Mountain, Vermont,
February 28-March 2, 2005
Designed
by women for women, Stratton Mountain's Sisterhood Winter
Rally features ski, snowboard and snow
blade workshops for women only. Teklemariam instructed guests on alpine
ski and snowboarding through
2005.adaptive snowboards
5 million for the second quarter of fiscal 2006, compared with
$106. Revenue from resort
operations
was $109.4 million in the second quarter of fiscal 2005. Revenues for the same period were approximately
$1. While this methodology has changed, the Company believes that any
discrepancies in such methods
in comparison with prior years are immaterial to
total skier visitation levels reported. Excluding
preferred stock, total resort debt would be
$320,756 and total debt would be $340,428.7%
18,636 17,914 4.0%
Retail
sales 11,524 11,447 0.FEATURE
/Black Diamonds Are a Girls Best Friend; Ski Resorts Catering to Women's Quest for Fun
. This unique
competition brings women together for one-on-one
interaction and support and to promote snowboarding
as a fun activity
for all.
Kim Reichhelm's Women's Ski Adventure Clinic, Winter Park,
Colorado
, February 28-March 5
US Ski Team veteran and two-time World Extreme Skiing Champion Kim
Reichhelm
hosts this all-inclusive ski vacation for women of every
level of ski ability. He plans to compete
in both Alpine
and Nordic events in the 2006 Winter Olympics in Turin, Italy.s like Robel to pursue
extraordinary aspirations," commented Club Med Americas President and CEO John
Vanderslice.O.s
were always proud when I'd
come back to Club Med with a medal.serfas breakdown
Fair,
President and CEO.
For the 26 fiscal weeks ended January 29, 2006 total skier visits at ASC's
eastern resorts decreased
by approximately 3% compared to the 27 fiscal weeks
ended January 30, 2005, reflecting weather difficulties
in January, partially
offset by year over year increases in business volumes in the Christmas/New
Years holiday period. Management believes that non-GAAP financial measures which exclude
certain
items provide useful information to investors regarding the company's
ongoing financial condition
and results of operations.peaks.intrawest. Skier Robel Teklemariam to Represent Ethiopia
CORAL GABLES, Fla."
After completing a successful collegiate ski career, Teklemariam
moved to
Colorado, where he worked as a Club Med G." Remembers Teklemariam, "Sometimes I'd take a
half day off from
teaching to compete in a race -- my fellow G.
snowboard trick
The increased loss was associated
with a $2. In addition to the information contained in this press
release, investors should also
review information contained in the company's
Form 10-Q and Form 10-K, dated March 15, 2006 and October
31, 2005,
respectively, as well as other filings with the Securities and Exchange
Commission when
assessing the company's financial condition and results of
operations.70) $(1. The
event
is free, with an optional $2 donation to the Breast Cancer
Foundation.
"My goal is to raise
awareness that athletes from non-skiing countries can
compete in the Winter Olympics," says Teklemariam
, originally from Addis
Ababa, Ethiopia.ramp skiboarding
"I am extremely pleased with our record second quarter
revenues. Cost of resort operations did
not increase over the second quarter of fiscal 2005, due
to the fact that the
second quarter of fiscal 2006 contained one less weekly operating period than
the second quarter of fiscal 2005.8 million provision for a probable settlement
related to real
estate development obligations at The Canyons, partially
offset by a $0.9 million for the 27 weeks
ended January 30, 2005.
The loss from resort operations was $50. Operating costs for this corresponding
additional period
(week ended August 1, 2004) in the previous fiscal year were approximately
$1.1 million
increase in cost of operations, due in part to a $0. The Company also expects
this
negative impact to be partially offset by generally favorable operating
conditions and skier visitation
levels at its western resorts. Since the company has historically reported
non-GAAP results to the
investment community, management also believes the
inclusion of non-GAAP measures provides consistency
in its financial
reporting.----Right now, some
girl is trapped on a blind date, when she could
be having the time of
her life skiing, shopping and relaxing at a winter resort with her in
mind
. Specially priced lodging packages are
available from 2-4 nights, in addition to Intrawest's 5-night
Home +
Away Offer (see sidebar below.adaptive boarder
This
impressive growth, despite marginal weather in the
East, is a reflection of
the progress we've made as a company in recent years," commented B.4 million
for the second quarter of
fiscal 2005.5 million increase
in resort revenues, a $1.9%
Total
resort
revenues $109,887 $103,411 6.8%
(1) Includes an additional
fiscal week of operations relative to
fiscal 2006.
Representatives from Velvet Eyewear
and K2 Snowboarding will be there
scouting for the potential new additions to their team rosters
. The
growing Intrawest world also includes interests in luxury, adventure
travel outfitter Abercrombie
+ Kent, Canadian Mountain Holidays, the
largest heli-skiing/heli-hiking operator in the world; Intrawest
Golf,
responsible for the development and management of leading golf courses
around the globe
, including its premier brand, Raven Golf Clubs; and
Club Intrawest, a unique vacation ownership program
., Former Club Med ski instructor
Robel Teklemariam, 31, will be the first Ethiopian-born citizen
to represent
the African nation at a Winter Olympics.com .bites snowboards
9 million for the second quarter of fiscal
2006 compared
with $103.
The loss from resort operations was $9.
The loss from real
estate operations was $1.7 million for the second
fiscal quarter of 2006 compared with a loss of
$0.4 million for the 26 weeks ended
January 29, 2006 versus a loss of $58.snowboarding snowboard
4 million for the second
quarter of fiscal 2005.2 million for the second
quarter of fiscal 2005.5 million, or $1.6 million
.6 million for
the 27 weeks ended January 30, 2005. These forward-looking
statements are not based
on historical facts, but rather reflect our current
expectations concerning future results and events
. Participants ski in small groups
with individual attention, which helps to raise their ski level
and
ski with more confidence. For more
information, call Tim McNulty at 604-623-6620 or visit
the company
website at www.snowu trick
At Steamboat and The Canyons in the West, the Company recorded a
12
% increase in skier visits for the winter operating season to date thru
January 29, 2006, due to strong
booking patterns and favorable weather
creating excellent skiing and riding conditions.2 million
decrease in depreciation expense, a
$6.9 million, or $1.6 million for the 27 weeks ended January
30, 2005.0 million for the 26 weeks ended January 29, 2006 compared
with $121.2 million for the 26
weeks ended January 29, 2006, compared to a net loss
of $53.
Beginning in fiscal 2006, the
Company revised the methodology used to
estimate skier visitation at its eastern resorts. More information
is available on the
Company's web site, http://www. 150.8% 10,829 9,868 9.3%)
Lodging and
property 13,873 12,675 9. The
latest trend at ski resorts such
as Whistler Blackcomb in British
Columbia; Mountain Creek in New Jersey; Stratton Mountain in Vermont;
Copper Mountain and Winter Park in Colorado (all members of the
Intrawest family of resorts) is
catering to women's quest for fun by
scheduling special events, ski camps and activities designed
just for
them. 14 or visit www.s perfect skills that they wouldn't discover
in a typical office
environment -- whether in performance, sports or music. Teklemariam hopes to make Ethiopia a permanent
part of the
ski racing community.wakeboard skiboarding
The Company reported strong results in its
Christmas/New Years
and Presidents' Day holiday periods, and slightly lower
skier visits than in the prior fiscal year
in the East in January (excluding
New Years) due principally to weather related difficulties at its
eastern
resorts. This will be remembered as
a truly remarkable winter season in the West, with
Steamboat nearing record
amounts of its renowned Champagne Powder(R)," added Fair.70 per basic and
diluted common share
for the second quarter of fiscal 2005.6 million for the second fiscal
quarter
of 2006 versus a loss of $21. The increased loss was associated with a $0.
Fiscal 2006 to
Date Results
On a GAAP basis, net loss attributable to common shareholders for the
26 weeks
ended January 29, 2006 was $53.
Excluding other items, the loss from resort operations was $50.3
million for the 27 weeks
ended January 30, 2005. Total skier visits at the Company's western resorts
increased by 12% compared to the 27 fiscal weeks ended January 30, 2005,
reflecting generally
positive operating conditions throughout the winter
operating season to date. Although the 2005
fiscal year includes an extra
week of operations due to its 52-53 week fiscal year policy, the winter
operating season of fiscal 2005 includes only one additional calendar day of
winter operations
relative to fiscal 2006.com.4%
Food and
beverage 14,332 13,429 6.
PURCHASE
, N. In addition to daily instruction, the trip
includes accommodations, lift tickets, video analysis
, breakfast and
lunch daily, a welcome and an awards dinner, apres-ski parties,
reception, airport
transfers, fun race and gift bag.O.answered snowboarders
4 million.2 million decrease in interest costs due to lower construction
loan
balances relative to the prior fiscal year.
Use of Non-GAAP Financial Information
The company uses both GAAP and non-GAAP metrics to measure its financial
results. Such forward
-looking
statements involve a number of risks and uncertainties.. The 5-night, 4-day adventure is
designed to
teach women to overcome their fears, get a new outlook on life's
challenges and have
more fun skiing. (Gracious Organizer) for eight
years at resorts in Copper Mountain and Crested Butte
. At that time
Ethiopia didn't recognize skiing as an Olympic sport, so Teklemariam
established
a ski federation for Ethiopia, along with bylaws for future
skiers.
Additional information
about Club Med is available to consumers at
http://www.Sites listed in this category are strictly
of a snowboarding nature.
answered trick
J. Resort revenues for the same period were only $0.69 per basic and
diluted
common share, compared with a net loss attributable to common
shareholders of $59.6 million for the
26 weeks ended January 29, 2006, compared to a loss of $1.36) $(0.5% 20,608 19,271
6. The event kicks off
Friday, February 4 with a celebratory "Pink Party," a pink-themed
affair
including a raffle, live entertainment, appetizers, prizes and
more.heliboarding strictly
36 per basic and
diluted common
share, compared with a net loss attributable to common
shareholders of $22.6 million for the quarter
versus $2.6 million for the 26 weeks ended January 29, 2006, compared with
$125.3 million decrease
in depreciation expense,
a $0. We have tried, wherever possible, to identify such statements by
using words such as "anticipate," "assume," "believe," "expect," "intend,"
"plan," and words and
terms of similar substance in connection with any
discussion of operating or financial performance
." Off the slopes, Whistler village comes alive with women-focused
apres-ski events, Ladies Nights
at local bars and eateries, sunrise
yoga sessions, and spa specials. At the heart of the Intrawest
network is the company's
assortment of year-round, village-centered destination resorts.
"Club Med provides the perfect environment for G. Situated within the
heart of the Rocky Mountains
, Club Med Crested Butte is North America's only
All Inclusive(TM) ski destination."
Teklemariam
resumed serious training and competition three years ago with
his eyes on the Olympics while still
working at Club Med.breakdown heliboarding
Operating costs for this corresponding
period (week ended October 31, 2004
) in fiscal 2005 were approximately
$2. Excluding other items, the net loss was
$52.3 million
increase
in resort operations costs, a $2.8 million provision for a
probable settlement related
to real estate development obligations at The
Canyons and a $1.3 million decrease in interest costs
due to
lower construction loan balances relative to the prior fiscal year.
The Lady Velvet
Rail Jam, Mountain Creek, New Jersey, January 29,
2005,
Mountain Creek will host The Lady
Velvet Rail Jam, a ladies-only
rail jam competition featuring a full day of rail riding for girls
of
all ages.boarder wakeboard
Other highlights included a fiscal 2006 year to date increase in
cash provided by
operating activities of nearly 9% over the 27 weeks ended
January 30, 2005. Revenue from resort
operations
was $127.5 million for the 27 weeks ended
January 30, 2005. Similarly, statements that
describe
our objectives, plans or goals are or may be forward-looking
statements.
American Skiing Company and Subsidiaries
Unaudited Segment Information and Reconciliation
of GAAP to Non-GAAP Metrics
(in thousands
of dollars)
13 Weeks 14 Weeks 26 Weeks 27 Weeks
Ended Ended Ended Ended
January 29, January 30, January 29, January 30,
2006
2005 2006 2005
Loss from resort
operations $(9,601) $
(21,426) $(50,397) $(58,548)
Loss from real
estate operations (1,720)
(718) (3,123) (1,316)
Net loss $(11,321) $(22,144) $(53,520
) $(59,864)
Net loss $(11,321) $(22,144) $(53,520) $(59,864)
Gain on sale of
property -- -- 169 --
Impairment loss
on property sold -- -- (1,533)
--
Write-off of
deferred financing
costs and loss
on extinguishment
of senior
subordinated notes -- (5,983) -- (5,983)
Net loss excluding
gain on sale of
property, impairment
loss on property
sold
and write-off of
deferred financing
costs and loss on
extinguishment
of
senior subordinated
notes $(11,321) $(16,161) $(52,156)
$(53,881)
Loss from resort
operations $(9,601) $(21,426) $(50
,397) $(58,548)
Gain on sale of
property -- --
169 --
Write-off of
deferred financing
costs and loss on
extinguishment of
senior subordinated
notes --
(5,983) -- (5,983)
Loss from resort
operations excluding
gain
on sale of
property and write-off
of deferred financing
costs and loss on
extinguishment of
senior subordinated
notes $(9,601) $(15,443
) $(50,566) $(52,565)
Loss from real
estate operations $(1,720)
$(718) $(3,123) $(1,316)
Impairment loss
on property sold --
-- (1,533) --
Loss from real estate
operations excluding
impairment loss on
property sold $(1,720) $(718) $(1,590) $(1,316
)
American Skiing Company and Subsidiaries
Unaudited
Balance Sheet Data - January 29, 2006
(in thousands of dollars)
Real estate developed
for sale $20,421
Total assets $437,531
Total resort
debt (1) $654,012
Total real estate
debt
19,672
Total debt (1) $673,684
(1) Includes preferred stock of
$333,256 as a result of the adoption of
SFAS No.7%
Golf and
summer
activities 20 23 (13.9%
Miscell
-aneous
revenue 3,697
3,194 15.
About Intrawest
For nearly 20 years, in every season, Intrawest has been
providing
travelers the most extraordinary adventure vacation experiences in the
world. "We've
had many G.windchill snowboarding
"Boosted by a fantastic season at Steamboat and The
Canyons and a strong backlog of
season pass sales, we remain committed to
growing American Skiing Company, even in periods of weather
related
difficulties such as those in the East this year. The increase in
resort revenues reflects
the higher business volumes in December of fiscal
2006 relative to the prior fiscal year.3 million
increase in the
fair value of the interest rate swap agreement; partially offset by a
$1.3 million
increase in cost of real estate
operations due in part to a $0.89 per basic and diluted common share
for
the 27 weeks ended January 30, 2005.6 million for
the 26 weeks ended January 29, 2006, compared
to a loss of $52.3 million for the
27 weeks ended January 30, 2005.
For more information
, please refer to the Company's Form 10-Q, filed on
March 15, 2006, with the Securities and Exchange
Commission.Y.
Boarding for Breast Cancer Board-A-Thon, Copper Mountain,
Colorado, February
4-6, 2005
Organized by Boarding for Breast Cancer (B4BC) and sponsored in
part by Copper Mountain
and Op Girls Learn to Ride(TM), the
Board-A-Thon aims to promote the non-profit group's objective
to
increase awareness about breast cancer, the importance of early
detection and the value of
a healthy lifestyle.O.clubmed.winter trick
The company's eastern
resorts were negatively impacted by rain events
in January, and recorded
a 3% decrease in skier visits for the winter operating season to date thru
January 29, 2006.9 million
in resort revenues represents a record level on a same-resort basis
, since the
sale of the Heavenly and Sugarbush resorts in fiscal 2002. Excluding other items (for
a reconciliation of other items,
please see the tables following this discussion), the net loss was
$11.0 million decrease in write-off of deferred financing costs and loss on
extinguishment of
senior subordinated notes and a $0.2 million
increase in real estate revenues, a $0. The Company
now uses
scanning of certain lift ticket products to estimate skier visitation and
believes this
methodology to be a more accurate reflection of skier visitation
levels. We operate in a changing
business environment and new risks arise from time to time.
American
Skiing Company and Subsidiaries
Unaudited Supplemental Revenue Data
(in thousands of dollars)
13 Weeks 14 Weeks
26 Weeks 27 Weeks
Ended Ended Ended Ended
January 29, January 30, January 29, January 30,
2006
2005(1) % Change 2006 2005(1) % Change
Resort
revenues
Lift
tickets $55,712 $52,871 5.3%)
Skier
develop
-ment 10
,729 9,772 9.
Included in the sessions
are daily breakfasts, catered lunches, private
meeting rooms,
stretching sessions, equipment tuning talks and product
demonstrations.INTRAWEST
.COM/SKIFREE.helmets bites
7 million increase in marketing, general and administrative expenses and a
$0.
Resort
operations costs increased by only $0.7 million.3% $127,034 $121,231 4.com
strictly backcountry
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