It appears a 7% increase in revenue per available room for the three months ended March 31 contributed to the Boca Raton company's ability to produce net earnings of 68 cents a share, excluding a nonrecurring extraordinary charge.
The owner of luxury resorts and entertainment-sports businesses reported net income of $26.6 million, or 68 cents per diluted share, on total revenue of $127.6 million for the third quarter this year, compared with a net of $33.2 million, or 81 cents a share, on revenue of $154.5 million for the same period in 2000.
During the quarter, the company recorded a $1.8 million extraordinary loss on the repurchase of $60 million in principal owed on senior subordinated notes charged at 9.875%. Including the charge, the company recorded net income per diluted share of 64 cents.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
