The company's successes recently earned it a raking 33rd as a Forbes 200 Best Small Companies in America, and they are reflected in its third-quarter earnings as announced Thursday.
The vacation timeshare company says its third-quarter net income of $15.8 million -- or $0.61 per diluted share. This represents is an increase of 36.1% from last year's third quarter, which yielded $11.6 million -- or a split-adjusted $0.45 per share.
For the nine months ended Sept. 30, Trendwest says its net income was $41.6 million -- or $1.62 per diluted share. These figures show a 29.2% jump above the $32.2 million reported for the same time last-year, which was $1.26 split-adjusted per diluted share.
For the quarter ended Sept. 30, the company reports total revenues of $129.2 million, a 36.1% increase over the $94.9 million reported in the same quarter last year. During this period, the company says its revenues reached what it calls "a record" $359 million -- up 43.5% from $250.1 million reported for the same period last year.
Trendwest is in the business of selling and financing "vacation credits" in WorldMark and The Club. These credits entitle owners to the use of a fully-furnished vacation unit based on the number of credits purchased. Trendwest also manages WorldMark resort properties.
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.
