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TrendWest Predicts Record Revenues for FY2001

REDMOND, WA-TrendWest Resorts Inc. says it expects FY2001 net income to reach record levels, roughly 26% ahead of FY2000 results, on revenues in excess of $460 million.

By Gina Binole | Updated on December 20, 2001

REDMOND, WA-Buoyed by strong earnings in 2001, locally-based TrendWest Resorts Inc. (Nasdaq:TWRI) is projecting a rosy fiscal outlook for 2002 as well.

TrendWest Resorts Inc. says it expects FY2001 net income to reach record levels, roughly 26% ahead of FY2000 results, on revenues in excess of $460 million. For the fourth quarter, TrendWest reports vacation credit and fractional sales are estimated to reach $88.4 million, about 16% ahead of last year’s fourth quarter. Net income is expected to top $12 million, 16% ahead of last year’s fourth quarter.

“This year’s earnings growth began during the first quarter with strong revenues and is continuing as we near year end. We have noted a slowing of our growth momentum during this fourth quarter in reaction to the events of September 11th and tighter economic conditions, however, we expect to end the year well ahead of last year’s levels,” Bill Peare, President and CEO said in a news release.

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