Intrawest Resorts Holdings, Inc. (SNOW) has reported a 10.43 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $156.28 million, or $3.80 a share in the quarter, compared with $174.47 million, or $4.08 a share for the same period last year. Revenue during the quarter grew 6.08 percent to $334.89 million from $315.71 million in the previous year period. Total expenses were 52.49 percent of quarterly revenues, up from 42.55 percent for the same period last year. That has resulted in a contraction of 994 basis points in operating margin to 47.51 percent.
Operating income for the quarter was $159.10 million, compared with $181.38 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $176.99 million compared with $161.30 million in the prior year period. At the same time, adjusted EBITDA margin improved 176 basis points in the quarter to 52.85 percent from 51.09 percent in the last year period.
"Third quarter results reflect our continued focus on growing pre-committed revenue streams, increases in yields, our ability to manage costs, and the impact of our growth capital investments,” stated Tom Marano, chief executive officer. "I want to thank all of our guests and our employees for another outstanding ski season."
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