American Skiing reports strong 3Q results

American Skiing Company, owner of Attitash Bear Peak ski area in Bartlett, reported a 23 percent increase in net income for the third quarter of fiscal 2006.

Strong visitation levels at its resorts out West during the winter and the successful sale of nearly all remaining fractional real estate inventory led to the $5.6 million increase over the same time period 2005, according to the company.

Poor ski conditions in the East were responsible for an overall decrease in skier visits compared to last year’s third-quarter numbers. Despite poor weather at the company’s New England ski areas, however, officials report the snowmaking and grooming infrastructure of the eastern facilities provided some of the best snow conditions in the region.

Net income for third quarter OF fiscal 2006 was $10.7 million, or $0.34 per basic and diluted common share, up from $9.3 million or $0.29 for third quarter 2005.

Total consolidated revenue was $157 million for third quarter 2006, up from $135.2 million for the same time period 2005. – TRACIE STONE