This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Viad Corp Announces Third Quarter Results

Viad Corp (NYSE:VVI) today announced third quarter 2011 net income of $1.2 million, or $0.06 per diluted share. Viad’s income before other items of $1.2 million, or $0.06 per diluted share, excludes the favorable resolution of tax matters of $103,000 and restructuring charges of $47,000 after tax. This is in line with the company’s prior guidance of income per share of $0.03 to $0.13 and compares to 2010 third quarter income before other items of $0.23 per share.
  • Revenues of $216.2 million were up $1.0 million (0.5%) from 2010.
  • Segment operating income was $5.4 million as compared to $9.9 million in 2010.
  • Free cash flow was $23.8 million compared to $23.0 million in 2010.
  • Cash and cash equivalents were $104.6 million at September 30, 2011.
  • Denali Backcountry Lodge and Denali Cabins were purchased on September 16 for $15.3 million in cash.
  • 250,760 shares of common stock were repurchased at an aggregate cost of $4.6 million.
  • Debt was $3.6 million, with a debt-to-capital ratio of 0.9% at September 30, 2011.

Paul B. Dykstra, chairman, president and chief executive officer, said, “Viad’s third quarter 2011 earnings reflect strong performance from our Travel & Recreation Group, which realized significant growth during its busiest quarter. This growth was driven by the addition of two properties to our Glacier Park portfolio and organic revenue growth at Brewster. Our Marketing & Events Group realized base same-show revenue growth of nearly 11 percent. As a result of this increase and growth in other lines of business, the Marketing & Events Group substantially offset the impact of expected declines from negative show rotation as a number of major trade shows that took place in the 2010 third quarter are every-other-year shows that will occur again in 2012.”

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs