Canadian ski resort operator Whistler Blackcomb Holdings posted a 42 per cent fall in its quarterly earnings, hurt by higher costs.
Whistler Blackcomb, a two-mountain ski resort in British Columbia, posted a net income of $38.9 million for the January-March quarter, down from an income of $67.4 million, a year ago.
The company, which debuted on the Toronto Stock Exchange last November, earned $1.03 a share in the latest second quarter, but did not give a per-share figure for the comparable quarter.
Whistler Blackcomb, which hosted some 2010 Winter Olympics events, said resort revenue rose 36 percent to $113.03 million, driven by increases in both skier visits and higher ticket prices.
Operating expenses were up 13 percent at $44 million, primarily due to increases in labor and benefit costs.
Whistler Blackcomb shares closed at $11.90 on Wednesday on the Toronto Stock Exchange.
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