Financial Services Leaders Share How to Stay Ahead of Compliance at Actiance Unleash 2017 Summit

REDWOOD CITY, Calif., April 26, 2017 /PRNewswire/ — Actiance, the leader in active communications compliance, archiving, and analytics, today unveiled the details of its upcoming Actiance Unleash 2017 Summit, which will take place May 23–24 at the Convene Conference Center in New York City. In its fifth consecutive year, Unleash 2017 will delve into the biggest regulatory and compliance risks facing financial services firms today, and showcase success stories and the cutting-edge best practices for combating these new challenges. The event will feature keynote addresses from top experts at SIFMA on the impact of the new White House on financial regulation, as well as breakout sessions, labs, interactive panels and customer spotlights led by executives from top financial services companies. Register at: https://www.actiance.com/actiance-unleash-2017/

In an industry that always sees rapid change and substantial penalties for failing to keep up, 2017 will present investment houses and banks with more potentially ground-shifting regulatory and compliance developments than most years. Companies are preparing for MiFID II and GDPR, and with a new administration there is speculation as to whether regulations such as Dodd-Frank could be relaxed. New social tools such as Slack and WhatsApp have joined email, Skype for Business, Facebook, LinkedIn and Twitter as preferred communications channels for financial institutions and their clients, and organizations are unlocking new value from Office 365. Traders are also using personal smartphones and other emerging consumer voice tools for business purposes more often.

Experts from SIFMA ‚Unleash’ the Latest on Financial Regulation
At Unleash 2017, attendees will learn about the impact these forces may have on communications and content security, regulatory, legal and corporate governance from the industry’s most informed executives, and discover the processes, systems and cloud archiving and other technology that will keep their organizations out of trouble. This year’s Unleash agenda will feature:

  • Keynote session, „The New Administration and Congress: What Will be the Impact on Financial Regulation?” led by SIFMA experts, including:
    • Jennifer Flitton, Managing Director, Federal Government Affairs, SIFMA
    • Joseph Vaughan, Managing Director, Federal Government Relations, SIFMA

„Actiance Unleash is the once-a-year opportunity for leaders and innovators in the compliance space to share the latest industry happenings and discuss the most up-to-date methods for overcoming challenges within the ever-changing regulatory landscape,” said Kailash Ambwani, CEO, Actiance. „This year, more so than ever, the learnings that attendees come away with will be invaluable, as we tackle trending topics like compliance under the new administration and the growing importance of social media and voice archiving.”

For additional information and to request an invitation, please visit: Actiance Unleash 2017 Summit.

Additional Information
Stay up to date with Actiance: http://www.actiance.com/blog
Become a fan of Actiance: http://www.facebook.com/actiance
Follow Actiance on Twitter: http://www.twitter.com/actiance

About Actiance
Actiance is the leader in communications compliance, archiving, and analytics. We provide compliance across the broadest set of communications and social channels with insights on what’s being captured. Actiance customers manage over 500 million daily conversations across 80 channels and growing. Customers include the top 10 U.S., top 5 Canadian, top 8 European, and top 3 Asian banks. The Actiance advantage is customers stay ahead of compliance and uncover patterns and relationships hidden within their data. Learn more at www.actiance.com.

Actiance headquarters are in Redwood City, California. For more information, visit http://www.actiance.com or call 1-888-349-3223.

PR Contacts:
Lisa Bergamo
Senior Director, Corporate Communications, Actiance, Inc.
Phone: 650-380-9250
Email: LBergamo@actiance.com

Michael Burke
415.989.9000
actiance@msrcommunications.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/financial-services-leaders-share-how-to-stay-ahead-of-compliance-at-actiance-unleash-2017-summit-300445641.html

SOURCE Actiance

Related Links

http://www.actiance.com

New Clinical Study Demonstrates Benefits of RESPeRATE for Heart Failure Patients

Use of digital therapeutic device in 12-week crossover study improved exercise capacity, cardiac function and sleep disordered breathing

TEL AVIV, Israel, April 26, 2017 /PRNewswire/ -- 2breathe Technologies Ltd. with its wholly owned U.S. subsidiary Resperate Inc. announced, today, the publication of a new peer reviewed original article with the results from a 96 heart failure patients study. The independent study used the company's FDA-cleared hypertension treatment device, RESPeRATE. The study demonstrated that using RESPerATE during 12-weeks in the home setting can improve exercise capacity, left ventricular function, accompanied by a reduction in end-diastolic diameter of the left ventricle and attenuation of sleep disturbances, mainly central apnea.

The study was led by Professor Kalina Kawecka-Jaszcz, from the Department of Cardiology at the Jagiellonian University Medical College, Kraków, Poland in collaboration with Gianfranco Parati, Professor of Cardiovascular Medicine at the Univeristy of Milano-Bicocca and Head of Cardiology Department, S.Luca  Hospital, Istituto Auxologico Italiano, Milan, Italy.

"Chronic heart failure has become one of the most widespread diseases and a principal cause of morbidity and mortality in aging societies, due to the high prevalence of its main causes, namely, hypertension and coronary heart disease," said Professor Parati, a world-leading cardiologist and expert in the arena of telemedicine and digital therapeutics. "These new study results are consistent with two earlier randomized controlled studies supporting the benefits of RESPeRATE as a novel component of cardiorespiratory rehabilitation programs in patients with CHF."

CHF affects about 5.7 million patients in the U.S alone and is the most widespread cause of hospitalization of patients over 65, with more than one million hospitalizations every year and total treatment costs amounting to $33 billion annually. About 91% of CHF sufferers have a medical history involving hypertension.

"The results of these independent studies on heart failure patients and sleep disordered breathing in particular, expand the growing body of scientific evidence that the benefits of RESPeRATE extend beyond hypertension," said Erez Gavish, co-founder/CEO of 2breathe technologies. "As a digital therapeutic device, RESPeRATE goes beyond patient monitoring to encourage compliance and offer a powerful non-drug therapeutic option that improves patient lives. It's a very exciting future."

About 2breathe Technologies Ltd.

Tel-Aviv-based 2breathe Technologies Ltd. and its wholly owned U.S. subsidiary Resperate Inc. is a pioneer in the development of digital therapeutic devices; first for hypertension and more recently for sleeplessness. The original product, RESPeRATE® Hypertension Therapy is the world's first FDA-cleared, non-pharmacological hypertension treatment device now used by hundreds of thousands of patients worldwide and is featured in the American Heart Association statement on non-pharmacological treatments. The new product, 2breathe: Sleep Inducer, adopts RESPeRATE'S real-time coach guided-breathing technology for individuals who have difficulty sleeping. 2breathe was awarded the 2017 CES innovation award in the fitness, health and biotech category. For additional information, please visit www.resperate.com.

Company contact:
Erez Gavish
Co-Founder & CEO
Resperate Inc.
press@resperate.com

 

SOURCE 2breathe Technologies Ltd

Infinity Announces the Date of Its First Quarter 2017 Financial Results Conference Call and Webcast

CAMBRIDGE, Mass., April 26, 2017 /PRNewswire/ -- Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) will host a conference call on Tuesday, May 9, 2017, at 4:30 p.m. ET to review its first quarter 2017 financial results and provide an update on the company.

A live webcast of the conference call can be accessed in the Investors/Media section of Infinity's website at www.infi.com. To participate in the conference call, please dial 1-877-316-5293 (domestic) and 1-631-291-4526 (international) five minutes prior to start time. The conference ID number is 11938616. An archived version of the webcast will be available on Infinity's website for 30 days.

About Infinity

Infinity is an innovative biopharmaceutical company dedicated to advancing novel medicines for people with cancer. Infinity is advancing IPI-549, an oral immuno-oncology development candidate that selectively inhibits PI3K-gamma. A Phase 1 study in patients with advanced solid tumors is ongoing. For more information on Infinity, please refer to Infinity's website at www.infi.com.

Contact:

Jaren Irene Madden, Senior Director,

Investor Relations and Corporate Communications

Jaren.Madden@infi.com

 

 

SOURCE Infinity Pharmaceuticals, Inc.

Alaska Air Group reports first quarter 2017 results

SEATTLE, April 26, 2017 /PRNewswire/ —

Financial Highlights:

  • Reported net income for the first quarter under Generally Accepted Accounting Principles („GAAP”) of $99 million or $0.79 per diluted share, compared to net income of $184 million, or $1.46 per diluted share in 2016. As the acquisition of Virgin America Inc. („Virgin America”) closed on Dec. 14, 2016, first quarter 2017 information reflects the results of Virgin America, including the impacts associated with purchase accounting. First quarter 2016 results do not include Virgin America.
  • Reported first quarter net income, excluding merger-related costs and mark-to-market fuel hedging adjustments, of $130 million, compared to $183 million in the first quarter of 2016. Adjusted diluted earnings per share were $1.05, compared to $1.45 in the first quarter of 2016. This quarter’s results were in line with First Call analyst consensus estimate of $1.02 per share.
  • Paid $0.30 per-share quarterly cash dividend in the first quarter, a 9% increase over the dividend paid in the first quarter of 2016.
  • Total assets surpassed $10 billion for the first time in Air Group’s history.
  • Generated approximately $470 million of operating cash flow and used approximately $215 million for capital expenditures, resulting in $255 million of free cash flow in the first quarter of 2017.
  • Held $1.7 billion in unrestricted cash and marketable securities as of March 31, 2017.

Operational Accomplishments and Highlights:

  • Released the single largest new market announcement in Air Group’s history, adding 20 new nonstop markets from San Francisco International („SFO”), San Jose International („SJC”) and San Diego („SAN”). In total, announced 26 and launched six new routes during the quarter, highlighting the primary purpose of the Virgin America acquisition, which is to grow the combined airline and become the premier carrier for guests on the West Coast.
  • Reached a tentative agreement with the International Brotherhood of Teamsters to amend the eight-year contract with Horizon Air’s pilots, which will provide Horizon the ability to attract and retain the best pilots in the regional industry.
  • Granted „Single Carrier Determination” by the National Mediation Board („NMB”) for Alaska Airlines and Virgin America, paving the way for labor integration and union representation. The NMB officially certified the Association of Flight Attendants as the union representative for Virgin America inflight teammates.
  • Took delivery of the first of 33 E175s to be flown by subsidiary Horizon Air.
  • Became the first airline to take delivery of the Airbus A321neo in April 2017. The aircraft is the first of five scheduled for delivery through 2017.
  • Launched various new in-flight amenities, including Free Chat, upgraded food and beverage options and Premium Class service.
  • Added Condor Airlines as an Alaska Mileage Plan partner.
  • Alaska Airlines: Ranked No. 1 in the „Airline Quality Rating” of performance and quality for 2016—a study performed by Embry-Riddle Aeronautical University focused on four major areas of airline performance aspects important to air travel consumers.
  • Alaska Airlines: Named one of top ten airlines in the world by TripAdvisor in 2017 Travelers’ Choice awards.
  • Alaska Airlines: Won the „Best Rewards Program” for Alaska Mileage Plan for carriers in the „Americas” region in the sixth annual FlyerTalk Award.

Alaska Air Group, Inc., (NYSE: ALK) today reported first quarter 2017 GAAP net income of $99 million, or $0.79 per diluted share, compared to $184 million, or $1.46 per diluted share in the first quarter of 2016. Excluding the impact of special items and mark-to-market fuel hedge adjustments, the company reported adjusted net income of $130 million, or $1.05 per diluted share, compared to $183 million, or $1.45 per diluted share, in 2016.

„We are pleased to report a solid profit for the first quarter,” said Alaska CEO Brad Tilden. „With the biggest integration decisions behind us, the hard work of executing the plan now lies ahead. We’ve laid a foundation for growth with our recent announcements of 37 new routes, and the leadership team is fully focused on running a great airline and doing the things we do well—taking care of our guests, building loyalty and operating on time.”

The following table reconciles the company’s reported GAAP net income and earnings per diluted share („diluted EPS”) during the first quarters of 2017 and 2016 to adjusted amounts:

Three Months Ended March 31,

2017

2016

(in millions, except per-share amounts)

Dollars

Diluted EPS

Dollars

Diluted EPS

Reported GAAP net income

$

99

$

0.79

$

184

$

1.46

Mark-to-market fuel hedge adjustments

10

0.08

(2)

(0.02)

Special items—merger-related costs

40

0.33

Income tax effect on special items and fuel hedge adjustments

(19)

(0.15)

1

0.01

Non-GAAP adjusted income and per-share amounts

$

130

$

1.05

$

183

$

1.45

Statistical data, as well as a reconciliation of the reported non-GAAP financial measures, can be found in the accompanying tables. A glossary of financial terms can be found on the last page of this release.

A conference call regarding the first quarter results will be simulcast online at 8:30 a.m. Pacific time on April 26, 2017. It can be accessed through the company’s website at www.alaskaair.com/investors. For those unable to listen to the live broadcast, a replay will be available after the conclusion of the call.

References in this news release to „Air Group,” „company,” „we,” „us” and „our” refer to Alaska Air Group, Inc. and its subsidiaries, unless otherwise specified. Alaska Airlines, Inc., Horizon Air Industries, Inc., and Virgin America Inc. are referred to as „Alaska,” „Horizon,” and „Virgin America” respectively, and together as our „airlines.”

This news release may contain forward-looking statements subject to the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements relate to future events and involve known and unknown risks and uncertainties that may cause actual outcomes to be materially different from those indicated by any forward-looking statements. For a comprehensive discussion of potential risk factors, see Item 1A of the Company’s Annual Report on Form 10-K for the year ended Dec. 31, 2016, as well as in other documents filed by the Company with the SEC after the date thereof. Some of these risks include general economic conditions, increases in operating costs including fuel, competition, labor costs and relations, our indebtedness, inability to meet cost reduction goals, seasonal fluctuations in our financial results, an aircraft accident, changes in laws and regulations and risks inherent in the achievement of anticipated synergies and the timing thereof in connection with the acquisition of Virgin America. All of the forward-looking statements are qualified in their entirety by reference to the risk factors discussed therein. We operate in a continually changing business environment, and new risk factors emerge from time to time. Management cannot predict such new risk factors, nor can it assess the impact, if any, of such new risk factors on our business or events described in any forward-looking statements. We expressly disclaim any obligation to publicly update or revise any forward-looking statements after the date of this report to conform them to actual results. Over time, our actual results, performance or achievements will likely differ from the anticipated results, performance, or achievements that are expressed or implied by our forward-looking statements, and such differences might be significant and materially adverse.

Alaska Airlines, together with Virgin America and its regional partners, flies 40 million customers a year to 118 destinations with an average of 1,200 daily flights across the United States and to Mexico, Canada, Costa Rica and Cuba. With Alaska and Alaska Global Partners, customers can earn and redeem miles on flights to more than 900 destinations worldwide. Alaska Mileage Plan ranked „Highest in Customer Satisfaction with Airline Loyalty Rewards Programs” in the J.D. Power Airline Loyalty/Rewards Program Satisfaction Report for the last three consecutive years.  Learn more about Alaska’s award-winning service and unmatched reliability at newsroom.alaskaair.com and blog.alaskaair.com. Alaska Airlines, Virgin America and Horizon Air are subsidiaries of Alaska Air Group (NYSE: ALK).

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

Alaska Air Group, Inc.

As the acquisition closed on December 14, 2016, amounts presented below include Virgin America results for the three months ended March 31, 2017 but not for the prior period.

Three Months Ended March 31,

(in millions, except per-share amounts)

2017

2016

Change(a)

Operating Revenues:

Passenger

Mainline

$

1,272

$

927

37

%

Regional

212

206

3

%

Total passenger revenue

1,484

1,133

31

%

Freight and mail

24

24

%

Other—net

241

190

27

%

Total Operating Revenues

1,749

1,347

30

%

Operating Expenses:

Wages and benefits

448

336

33

%

Variable incentive pay

31

32

(3)

%

Aircraft fuel, including hedging gains and losses

339

167

103

%

Aircraft maintenance

87

68

28

%

Aircraft rent

65

29

124

%

Landing fees and other rentals

115

80

44

%

Contracted services

81

60

35

%

Selling expenses

81

49

65

%

Depreciation and amortization

90

88

2

%

Food and beverage service

45

31

45

%

Third-party regional carrier expense

27

23

17

%

Special items—merger-related costs

40

NM

Other

134

94

43

%

Total Operating Expenses

1,583

1,057

50

%

Operating Income

166

290

(43)

%

Nonoperating Income (Expense):

Interest income

7

6

Interest expense

(25)

(13)

Interest capitalized

4

8

Other—net

1

Total Nonoperating Income (Expense)

(14)

2

(800)

%

Income Before Income Tax

152

292

Income tax expense

53

108

Net Income

$

99

$

184

(46)

%

Basic Earnings Per Share:

$

0.80

$

1.47

(46)

%

Diluted Earnings Per Share:

$

0.79

$

1.46

(46)

%

Shares Used for Computation:

Basic

123.495

124.550

(1)

%

Diluted

124.299

125.328

(1)

%

Cash dividend declared per share:

$

0.300

$

0.275

(a)

See Combined Comparative information in the accompanying pages for year-over-year comparisons including Virgin America.

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

Alaska Air Group, Inc.

(in millions)

March 31, 2017

December 31, 2016

Cash and marketable securities

$

1,710

$

1,580

Total current assets

2,213

2,050

Property and equipment—net

5,809

5,666

Goodwill

1,942

1,934

Intangible assets

139

143

Other assets

199

169

Total assets

10,302

9,962

Air traffic liability

1,218

849

Current portion of long-term debt

332

319

Other current liabilities

1,285

1,367

Current liabilities

2,835

2,535

Long-term debt

2,531

2,645

Other liabilities and credits

1,922

1,851

Shareholders’ equity

3,014

2,931

Total liabilities and shareholders’ equity

$

10,302

$

9,962

Debt-to-capitalization ratio, adjusted for operating leases(a)

58

%

59

%

Number of common shares outstanding

123.729

123.328

(a)

Calculated using the present value of remaining aircraft lease payments.

OPERATING STATISTICS SUMMARY (unaudited)

Alaska Air Group, Inc.

As the acquisition closed on December 14, 2016, Consolidated and Mainline amounts presented below include Virgin America results for the three months ended March 31, 2017 but not for the prior period.

Three Months Ended March 31,

2017

2016

Change(e)

Consolidated Operating Statistics:(a)

Revenue passengers (000)

10,018

7,835

27.9%

RPMs (000,000) „traffic”

11,708

8,571

36.6%

ASMs (000,000) „capacity”

14,394

10,453

37.7%

Load factor

81.3%

82.0%

(0.7)pts

Yield

12.68¢

13.22¢

(4.1)%

PRASM

10.31¢

10.84¢

(4.9)%

RASM

12.15¢

12.88¢

(5.7)%

CASMex(b)

8.37¢

8.51¢

(1.6)%

Economic fuel cost per gallon(c)

$1.78

$1.29

38.0%

Fuel gallons (000,000)

184

132

39.4%

ASM’s per gallon

78.2

79.2

(1.3%)

Average number of full-time equivalent employees (FTE)

18,682

14,357

30.1%

Mainline Operating Statistics:

Revenue passengers (000)

7,783

5,642

37.9%

RPMs (000,000) „traffic”

10,827

7,716

40.3%

ASMs (000,000) „capacity”

13,260

9,354

41.8%

Load factor

81.7%

82.5%

(0.8)pts

Yield

11.75¢

12.01¢

(2.2)%

PRASM

9.59¢

9.91¢

(3.2)%

RASM

11.44¢

11.99¢

(4.6)%

CASMex(b)

7.53¢

7.49¢

0.5%

Economic fuel cost per gallon(c)

$1.78

$1.28

39.1%

Fuel gallons (000,000)

164

113

45.1%

ASM’s per gallon

80.8

82.8

(2.4%)

Average number of FTE’s

15,007

11,123

34.9%

Aircraft utilization

10.8

10.6

1.9%

Average aircraft stage length

1,245

1,237

0.6%

Operating fleet

217

152

65 a/c

Regional Operating Statistics:(d)

Revenue passengers (000)

2,234

2,192

1.9%

RPMs (000,000) „traffic”

880

855

2.9%

ASMs (000,000) „capacity”

1,134

1,100

3.1%

Load factor

77.6%

77.7%

(0.1)pts

Yield

24.13¢

24.09¢

0.2%

PRASM

18.73¢

18.72¢

0.1%

Operating fleet

73

67

6 a/c

(a)

Except for full-time equivalent employees, data includes information related to third-party regional capacity purchase flying arrangements.

(b)

See a reconciliation of this non-GAAP measure and Note A for a discussion of potential importance of this measure to investors in the accompanying pages.

(c)

See a reconciliation of economic fuel cost in the accompanying pages.

(d)

Data presented includes information related to flights operated by Horizon Air and third-party carriers.

(e)

See Combined Comparative information in the accompanying pages for year-over-year comparisons including Virgin America.

SUPPLEMENTARY COMBINED COMPARATIVE FINANCIAL AND OPERATING INFORMATION (unaudited)

We believe that analysis of specific financial and operational results on a combined basis provides more meaningful year-over-year comparisons. The table below provides „Combined Comparative” results for the three months ended March 31, 2016, determined as the sum of the historical consolidated results of Air Group and of Virgin America. Virgin America’s financial information has been conformed to reflect Air Group’s historical financial statement presentation for each period presented. This information does not purport to reflect what our financial and operational results would have been had the acquisition been consummated at the beginning of the periods presented.

Three Months Ended March 31,

2017

2016

As Reported

Combined(a)

Change

Combined Comparative Operating Results

Passenger revenue

$

1,484

$

1,462

2%

Other revenue

265

248

7%

Total Operating Revenues

1,749

1,710

2%

Non-fuel operating expense

1,244

1,150

8%

Fuel expense

339

238

42%

Total Operating Expenses

1,583

1,388

14%

Operating Income

166

322

(48)%

Nonoperating income (expense)

(14)

(2)

600%

Income Before Tax

152

320

(53)%

Special items—merger-related costs

40

2

NM

Mark-to-market fuel hedge adjustments

10

(3)

NM

Adjusted Income Before Tax

$

202

$

319

(37)%

Combined Comparative Operating Statistics

Revenue passengers (in 000)

10,018

9,602

4.3%

RPMs (in 000,000)

11,708

11,186

4.7%

ASMs (in 000,000)

14,394

13,719

4.9%

Load Factor

81.3

%

81.5

%

(0.2) pts

PRASM

10.31

¢

10.66

¢

(3.3)%

RASM

12.15

¢

12.47

¢

(2.6)%

CASMex

8.37

¢

8.36

¢

0.1%

(a)

Refer to our Investor Update issued on April 12, 2017 on Form 8-K for further details of the calculation of the three months ended March 31, 2016 combined data.

OPERATING SEGMENTS (unaudited)

Alaska Air Group, Inc.

As the acquisition closed on December 14, 2016, Consolidated and Mainline amounts presented below include Virgin America results for the three months ended March 31, 2017 but not for the prior period.

Three Months Ended March 31, 2017

(in millions)

Mainline

Regional

Horizon

Consolidating
& Other

Air Group
Adjusted(a)

Special
Items(b)

Consolidated

Operating revenues

Passenger

Mainline

$

1,272

$

$

$

$

1,272

$

$

1,272

Regional

212

212

212

   Total passenger revenues

1,272

212

1,484

1,484

CPA revenues

97

(97)

Freight and mail

23

1

24

24

Other—net

222

17

1

1

241

241

Total operating revenues

1,517

230

98

(96)

1,749

1,749

Operating expenses

Operating expenses, excluding fuel

998

200

103

(97)

1,204

40

1,244

Economic fuel

292

36

1

329

10

339

Total operating expenses

1,290

236

103

(96)

1,533

50

1,583

Nonoperating income (expense)

Interest income

7

7

7

Interest expense

(22)

(2)

(1)

(25)

(25)

Other

3

1

4

4

Total Nonoperating income (expense)

(12)

(2)

(14)

(14)

Income (loss) before income tax

$

215

$

(6)

$

(7)

$

$

202

$

(50)

$

152

Three Months Ended March 31, 2016

(in millions)

Mainline

Regional

Horizon

Consolidating

Air Group
Adjusted(a)

Special
Items(b)

Consolidated

Operating revenues

Passenger

Mainline

$

927

$

$

$

$

927

$

$

927

Regional

206

206

206

   Total passenger revenues

927

206

1,133

1,133

CPA revenues

103

(103)

Freight and mail

23

1

24

24

Other—net

172

17

1

190

190

Total operating revenues

1,122

224

104

(103)

1,347

1,347

Operating expenses

Operating expenses, excluding fuel

701

186

105

(102)

890

890

Economic fuel

144

25

169

(2)

167

Total operating expenses

845

211

105

(102)

1,059

(2)

1,057

Nonoperating income (expense)

Interest income

6

6

6

Interest expense

(12)

(1)

(13)

(13)

Other

7

2

9

9

Total Nonoperating income (expense)

1

(1)

2

2

2

Income (loss) before income tax

$

278

$

13

$

(2)

$

1

$

290

$

2

$

292

(a)

The Air Group Adjusted column represents the financial information that is reviewed by management to assess performance of operations and determine capital allocation and does not include certain charges. See Note A in the accompanying pages for further information.

(b)

Includes merger-related costs and mark-to-market fuel-hedge accounting adjustments.

GAAP TO NON-GAAP RECONCILIATIONS (unaudited)

Alaska Air Group, Inc.

As the acquisition closed on December 14, 2016, amounts presented below include Virgin America results for the three months ended March 31, 2017 but not for the prior period.

CASM Excluding Fuel and Special Items Reconciliation

Three Months Ended March 31,

2017

2016

Consolidated:

CASM

11.00

¢

10.11

¢

Less the following components:

Aircraft fuel, including hedging gains and losses

2.36

1.60

Special items—merger-related costs

0.27

CASM excluding fuel and special items

8.37

¢

8.51

¢

Mainline:

CASM

10.11

¢

9.01

¢

Less the following components:

Aircraft fuel, including hedging gains and losses

2.28

1.52

Special items—merger-related costs

0.30

CASM excluding fuel and special items

7.53

¢

7.49

¢

Fuel Reconciliation

Three Months Ended March 31,

2017

2016

(in millions, except for per-gallon amounts)

Dollars

Cost/Gallon

Dollars

Cost/Gallon

Raw or „into-plane” fuel cost

$

325

$

1.76

$

165

$

1.26

Losses on settled hedges

4

0.02

4

0.03

Consolidated economic fuel expense

329

1.78

169

1.29

Mark-to-market fuel hedge adjustment

10

0.06

(2)

(0.02)

GAAP fuel expense

$

339

$

1.84

$

167

$

1.27

Fuel gallons

184

132

Note A: Pursuant to Regulation G, we are providing reconciliation of reported non-GAAP financial measures to their most directly comparable financial measures reported on a GAAP basis. We believe that consideration of these non-GAAP financial measures may be important to investors for the following reasons:

  • By eliminating fuel expense and certain special items (including merger-related costs) from our unit metrics, we believe that we have better visibility into the results of operations and our non-fuel cost-reduction initiatives. Our industry is highly competitive and is characterized by high fixed costs, so even a small reduction in non-fuel operating costs can result in a significant improvement in operating results. In addition, we believe that all domestic carriers are similarly impacted by changes in jet fuel costs over the long run, so it is important for management (and thus investors) to understand the impact of (and trends in) company-specific cost drivers such as labor rates and productivity, airport costs, maintenance costs, etc., which are more controllable by management.
  • Cost per ASM (CASM) excluding fuel and certain special items, such as merger-related costs, is one of the most important measures used by management and by the Air Group Board of Directors in assessing quarterly and annual cost performance.
  • Adjusted income before income tax and CASM excluding fuel (and other items as specified in our plan documents) are important metrics for the employee incentive plan, which covers the majority of Air Group employees.
  • CASM excluding fuel and certain special items is a measure commonly used by industry analysts, and we believe it is the basis by which they compare our airlines to others in the industry. The measure is also the subject of frequent questions from investors.
  • Disclosure of the individual impact of certain noted items provides investors the ability to measure and monitor performance both with and without these special items. We believe that disclosing the impact of certain items, such as merger-related costs and mark-to-market hedging adjustments, is important because it provides information on significant items that are not necessarily indicative of future performance. Industry analysts and investors consistently measure our performance without these items for better comparability between periods and among other airlines.
  • Although we disclose our passenger unit revenues, we do not (nor are we able to) evaluate unit revenues excluding the impact that changes in fuel costs have had on ticket prices. Fuel expense represents a large percentage of our total operating expenses. Fluctuations in fuel prices often drive changes in unit revenues in the mid-to-long term. Although we believe it is useful to evaluate non-fuel unit costs for the reasons noted above, we would caution readers of these financial statements not to place undue reliance on unit costs excluding fuel as a measure or predictor of future profitability because of the significant impact of fuel costs on our business.

Glossary of Terms

Aircraft Utilization – block hours per day; this represents the average number of hours per day our aircraft are in transit

Aircraft Stage Length – represents the average miles flown per aircraft departure

ASMs – available seat miles, or „capacity”; represents total seats available across the fleet multiplied by the number of miles flown

CASM – operating costs per ASM, or „unit cost”; represents all operating expenses including fuel and special items

CASMex – operating costs excluding fuel and special items per ASM; this metric is used to help track progress toward reduction of non-fuel operating costs since fuel is largely out of our control

Debt-to-capitalization ratio – represents adjusted debt (long-term debt plus the present value of future operating lease payments) divided by total equity plus adjusted debt

Diluted Earnings per Share – represents earnings per share („EPS”) using fully diluted shares outstanding

Diluted Shares – represents the total number of shares that would be outstanding if all possible sources of conversion, such as stock options, were exercised

Economic Fuel – best estimate of the cash cost of fuel, net of the impact of our fuel-hedging program

Free Cash Flow – total operating cash flow generated less cash paid for capital expenditures

Load Factor – RPMs as a percentage of ASMs; represents the number of available seats that were filled with paying passengers

Mainline – represents flying Boeing 737 and Airbus 320 family jets and all associated revenues and costs

PRASM – passenger revenue per ASM; commonly called „passenger unit revenue”

Productivity – number of revenue passengers per full-time equivalent employee

RASM – operating revenue per ASMs, or „unit revenue”; operating revenue includes all passenger revenue, freight & mail, Mileage Plan and other ancillary revenue; represents the average total revenue for flying one seat one mile

Regional – represents capacity purchased by Alaska from Horizon, SkyWest and PenAir. In this segment, Regional records actual on-board passenger revenue, less costs such as fuel, distribution costs, and payments made to Horizon, SkyWest and PenAir under the respective capacity purchased arrangement (CPAs). Additionally, Regional includes an allocation of corporate overhead such as IT, finance, other administrative costs incurred by Alaska and on behalf of Horizon.

RPMs – revenue passenger miles, or „traffic”; represents the number of seats that were filled with paying passengers; one passenger traveling one mile is one RPM

Yield – passenger revenue per RPM; represents the average revenue for flying one passenger one mile

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/alaska-air-group-reports-first-quarter-2017-results-300445872.html

SOURCE Alaska Air Group, Inc.

Related Links

http://www.alaskaair.com

Julien’s Auctions and Cunard Showcase the Largest Collection of Judy Garland Costumes

Guests aboard the Queen Mary 2 will have an exclusive opportunity to bid on items

Piece of luggage from Judy Garland Collection with original Cunard Line label

VALENCIA, Calif., April 26, 2017 /PRNewswire/ — Julien’s Auctions, the world record breaking auction house to the stars and Cunard, the cruise line known around the world for glamourous ocean travel, will pay homage to Hollywood icon Judy Garland when flagship Queen Mary 2 showcases highlights from the largest collection of her costumes to ever go to auction on the August 12-19, 2017 Transatlantic Crossing, departing out of New York.

Julien’s Auctions will exhibit highlights from Michael Siewert’s renowned Judy Garland Collection for guests to view and place bids on prior to the Icons & Idols: Hollywood auction in Los Angeles in September, 2017. Siewert is known as one of the foremost authorities on Judy Garland and has the largest collection in the world of items from her life and career. This collection is comprised of extraordinary film costumes, personal items such as props, signed contracts and photographs, and a piece of luggage Judy used when she traveled on a Cunard ocean liner in the late 1940s.

Highlights that will exhibit on board include:

  • A petal pink turn-of-the-century slip worn by Garland in Meet Me in St Louis (Estimate: $3,000-$5,000)
  • A red velvet ball gown she donned while singing „Have yourself a Merry Little Christmas” (Estimate: $4,000-$6,000)
  • A dress worn while performing „Born in a Trunk” in her Academy Award®-nominated and Golden Globe®-winning role in A Star is Born (Estimate: $4,000-$6,000)
  • A deep turquoise waistcoat also from the film A Star is Born (Estimate: $2,000-$4,000)
  • A custom-made embellished cream ensemble worn by Judy in her 1964 wedding to Mark Heron, and on her 1965 appearance on The Ed Sullivan Show (Estimate:$3,000-$5,000)
  • A slender ivory gown worn by Judy Garland while performing „In Your Easter Bonnet” with Fred Astaire in Easter Parade (1948) (Estimate: $4,000-$6,000)
  • A burnt orange and ivory dress worn by Garland Manuela Alva in The Pirate (1948) (Estimate: $4,000-$6,000)
  • Other items on display will include signed checks, scripts, jewelry and more

„We are honored to have the opportunity to sail across the Atlantic on board Cunard’s Queen Mary 2 with this exquisite Judy Garland Collection,” said Martin Nolan, Executive Director of Julien’s Auctions. „A highlight will be a piece of Judy’s luggage which is marked with a Cunard First Class luggage label, as Judy herself traveled with the venerable cruise line.”  

On the eight-night, eastbound Transatlantic Crossing out of New York, guests will enjoy:

  • A daily, rotating exhibit of Judy Garland memorabilia
  • Exclusive opportunity to bid on choice items in advance of the general auction which will be held at Julien’s Auctions in Los Angeles in September, 2017.
  • Q&A with Darren Julien, President and CEO of Julien’s Auctions and Martin Nolan, Executive Director of Julien’s Auctions.  
  • Q&A with Judy Garland collector Michael Siewert

„We are always looking for ways to offer our guests one-of-a-kind travel experiences,” said Josh Leibowitz, senior vice president, Cunard North America. „We are excited to continue our partnership with Julien’s Auctions and offer an exclusive opportunity to view this treasured collection from the life of Judy Garland, who was a Cunarder herself.”

For travel agents interested in further information, please contact your Business Development Manager, visit OneSource or call Cunard toll free at 1-800-528-6273.

For more information about Queen Mary 2, or to book a voyage, contact your Travel Consultant, call Cunard Line at 1-800-728-6273 or visit www.cunard.com.

Cunard
Defining true excellence at sea with over 176 years of legendary voyages, Cunard is the operator of luxury ocean liners Queen Mary 2®, Queen Victoria® and Queen Elizabeth®. Renowned for impeccable White Star Service, gourmet dining and world-class entertainment, all three Queens offer luxury on a grand scale in Britannia, Britannia Club, Princess Grill and Queens Grill accommodation. Cunard is the only line to offer regularly scheduled Transatlantic service and continues the legacy of world cruising which it began in 1922. Awarded ‚#1 Mega-Ship Ocean Cruise Line‚ by Travel + Leisure’s 2016 World’s Best Awards and ‚Best World Cruise Itineraries’ and ‚Best Trans-Atlantic Itineraries’ by Porthole Cruise Magazine’s 2016 Readers Choice Awards, Cunard is a proud member of World’s Leading Cruise Lines, a part of Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), the largest cruise vacation company in the world. Together Cunard, Carnival Cruise Line, Fathom, Holland America Line, Princess Cruises, Seabourn, AIDA Cruises, Costa Cruises, P&O Cruises (Australia) and P&O Cruises (UK) operate 102 ships visiting over 700 ports around the world and totaling 226,000 lower berths.

Social Media
Facebook: www.facebook.com/cunard 
Twitter: www.twitter.com/cunardline 
YouTube: www.youtube.com/wearecunard 
Instagram: www.instagram.com/cunardline 

Media Assets
Cunard photography is available online at www.cunard3queens.com.

Julien’s Auctions
Julien’s Auctions is the world-record breaking auction house to the stars. Collaborating with the famous and the exclusive, Julien’s Auctions produces high profile auctions in the film, music, sports and art markets. Julien’s Auctions has received international recognition for its unique and innovative auction events which attract thousands of collectors, investors, fans and enthusiasts from around the world. Julien’s Auctions specializes in sales of iconic artifacts and notable collections including Marilyn Monroe, John Lennon, Ringo Starr,  Lady Gaga, Banksy, Cher, Michael Jackson, U2, Barbra Streisand, Les Paul, Bob Hope, Elvis Presley, Frank Sinatra, Jimi Hendrix and many more. In 2016, Julien’s Auctions received its second placement in the Guinness Book of World Records for the sale of the world’s most expensive dress ever sold at auction, The Marilyn Monroe „Happy Birthday Mr. President” dress which sold for $4.8 million. Julien’s Auctions achieved placement in the Guinness Book of World Records in 2009 for the sale of Michael Jackson’s white glove which sold for $480,000 making it the most expensive glove ever sold at auction. Based in Los Angeles, Julien’s Auctions has a global presence bringing their auctions and exhibitions to targeted destinations worldwide including London, New York, Las Vegas, Japan and China. Live auctions are presented for bidders on-site and online via live streaming video and mobile technology. For more information on Julien’s Auctions go to www.juliensauctions.com. Connect with Julien’s Auctions at www.facebook.com/JuliensAuctions or www.twitter.com/JuliensAuctions or www.instagram.com/juliens_auctions.

Press Contact for Julien’s Auctions           
Caroline Galloway
440-591-3807
caroline@m2mpr.com

For additional information about Cunard, contact
Jackie Chase, Cunard, 661-753-1035, jchase@cunard.com
Maria Andriano, MGA Media Group, 212-251-1015, maria@mgamediagroup.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/juliens-auctions-and-cunard-showcase-the-largest-collection-of-judy-garland-costumes-300445855.html

SOURCE Cunard Line

Related Links

http://www.cunard.com

Global Consumer Packaged Goods (CPG) Logistics Market Consumption Analysis, Growth Forecast by Manufacturers, Regions, Type and Application to 2021

The Global Consumer Packaged Goods (CPG) Logistics Market to GROW at a CAGR of 5.98% during the period 2016-2020.

Global CPG Logistics Market Report focuses on the major drivers and restraints for the key players. These research report also provides granular analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The Global CPG Logistics market research report is a professional and in-depth study on the current state of Global CPG Logistics Industry.

Complete Report of Global CPG Logistics Market Research available at: https://www.absolutereports.com/global-cpg-logistics-market-2016-2020-10442177

CPG logistics is a business process that involves the management and movement of consumer packaged goods from the point of origin to the point of consumption. It is a core part of supply chain management (SCM) and includes services such as freight forwarding and multimodal transport through air, ship, truck, and rail. It also provides customs brokerage, warehousing and storage, tracking, and tracing of freight goods services.

The Global CPG Logistics Market research report covers the present scenario and the growth prospects of the Global CPG Logistics industry for 2016-2020. The Global CPG Logistics report enlists several important factors, starting from the basics to advanced market intelligence which play a crucial part in strategizing.

Get a PDF Sample of Global CPG Logistics Market Research Report at: http://www.absolutereports.com/enquiry/request-sample/10442177

Key Vendors of Global CPG Logistics Market:

  • Agility
  • CEVA Holdings
  • Deutsche Bahn
  • Expeditors
  • FedEx
  • Ryder System
  • Schneider National
  • UPS
  • UTi Worldwide

Other Prominent Vendors

  • APL Logistics
  • H. Robinson
  • Eagle Global Logistics
  • Exel

And many more…

With a purpose of enlightening new entrants about the possibilities in this market, this report investigates new project feasibility. Various details about the manufacturing process such as market drivers, impact of drivers, market challenges and impact of drivers and challenges, market trends, vendor landscape analysis and so on, is discussed in the report.

The Global CPG Logistics market report also presents the vendor landscape and a corresponding detailed analysis of the major vendors operating in the market. Global CPG Logistics market report analyses the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, and market demand and supply scenarios.

Regions of Global CPG Logistics market:

  • Americas
  • APAC
  • EMEA

Single User Licence: $2500

Purchase a copy of Report @ http://www.absolutereports.com/purchase/10442177

In the end, the report makes some important proposals for a new project of Global CPG Logistics Industry before evaluating its feasibility. Overall, the report provides an in-depth insight of 2016-2020 Global CPG Logistics industry covering all important parameters.

Global CPG Logistics Market Driver

  • Increase in outsourcing of logistics services
  • For a full, detailed list, view our report

Global CPG Logistics Market Challenge

  • High cost of operation and competitive pricing
  • For a full, detailed list, view our report

Global CPG Logistics Market Trends

  • Dominance of integrated service providers
  • For a full, detailed list, view our report

Have any query? ask our expert @ http://www.absolutereports.com/enquiry/pre-order-enquiry/10442177

The report then estimates 2016-2020 market development trends of Global CPG Logistics market. Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out.

Key questions answered in Global CPG Logistics Market Report:

  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?

In the end, the report makes some important proposals for a new project of Global CPG Logistics market before evaluating its feasibility.

List of Exhibits in Global CPG Logistics Market Report:

  • Exhibit 01: Service offerings
  • Exhibit 02: Global CPG logistics market landscape
  • Exhibit 03: Global CPG logistics market 2015-2020 ($ billions)
  • Exhibit 04: Five forces analysis
  • Exhibit 05: Market attractiveness by logistics services
  • Exhibit 06: Global CPG logistics market by services 2015-2020 (revenue %)
  • Exhibit 07: Global CPG logistics market by services 2015-2020 ($ billions)
  • Exhibit 08: Global CPG logistics market by transportation 2015-2020 ($ billions)
  • Exhibit 09: Global CPG logistics market by warehousing 2015-2020 ($ billions)
  • Exhibit 10: Global CPG logistics market by value-added services 2015-2020 ($ billions)

And continued….

Get Discount on Global CPG Logistics Market Research Report at: http://www.absolutereports.com/enquiry/request-discount/10442177

About Absolute Report:

Absolute Reports is an upscale platform to help key personnel in the business world in strategizing and taking visionary decisions based on facts and figures derived from in-depth market research. We are one of the top report resellers in the market dedicated towards bringing you an ingenious concoction of data parameters.

Contact:

Mr. Ameya Pingaley

Absolute Reports

+1-408 520 9750

Email: sales@absolutereports.com   

Qatar Airways lança promoção global

SÃO PAULO, 26 de abril de 2017 /PRNewswire/ — A Qatar Airways convida a todos os passageiros a planejarem suas próximas viagens com imperdíveis descontos em voos em todas as cabines. Com a Promoção de Vendas Global, que começa dia 26 de Abril e termina dia 3 de Maio de 2017; famílias, amigos e casais poderão comprar seus bilhetes aéreos para qualquer destino da malha aérea Qatar Airways, para mais de 150 destinos para voar até 21 de Junho de 2017.

Os viajantes podem facilmente decidir para onde viajar, com tarifas incríveis do Brasil para diversos lugares como China (a partir de USD 750), Cingapura (a partir de USD 900), Tailândia (a partir de USD 1080) e Japão (a partir de USD 1260), entre outros.

O Qatar Airways Chief Commercial Officer, Sr. Ehab Amin disse: „Estamos muito satisfeitos em poder oferecer aos nossos passageiros uma grande variedade de escolhas a pelo menos um destino. Com esta nova promoção, os passageiros podem facilmente escolher onde ir, com incríveis ofertas em todas as nossas classes de cabine. Os viajantes poderão aproveitar e escolher qualquer um de nossos 150 destinos da vasta malha aérea Qatar Airways”.  

Recentemente a companhia revelou seu mais recente produto premium, a „Qsuite”; uma suíte totalmente transformável na Classe Executiva; que permite dois, três ou quatro assentos criem um espaço único. Este design patenteado e exclusivo é definido como a transformação de um produto de Primeira classe para a cabine de Classe Executiva.   

A companhia recebeu prêmios de Melhor Classe Executiva pela Skytrax em 2016, e sua casa, o Hamad International Airport, foi também recentemente considerado cinco estrelas pela Skytrax World Airport Awards, e também eleito o sexto melhor aeroporto do Mundo.

A Qatar Airways é uma das cias aéreas que mais crescem no mundo, com mais de 150 destinos. A companhia aérea adicionará novos destinos em 2017, incluindo Chiang Mai, Yanbu, Dublin, Nice, Skopje e muito mais, com uma moderna frota de 195 aeronaves.

*Termos e condições são aplicáveis. Por favor checar no ato da compra no qatarairways.com

Contato: 11 2575 3000

(Foto: http://serwer1790916.home.pl/autoinstalator/wordpress1/wp-content/uploads/2017/04/www2.prnewswire.com_.br3567-e5f0605779b2d83dfa75ab9bbf2765f05e4b9f09.jpg)

FONTE Qatar Airways

SOURCE Qatar Airways

Related Links

http://qatarairways.com

Qatar Airways lança promoção global

SÃO PAULO, 26 de abril de 2017 /PRNewswire/ — A Qatar Airways convida a todos os passageiros a planejarem suas próximas viagens com imperdíveis descontos em voos em todas as cabines. Com a Promoção de Vendas Global, que começa dia 26 de Abril e termina dia 3 de Maio de 2017; famílias, amigos e casais poderão comprar seus bilhetes aéreos para qualquer destino da malha aérea Qatar Airways, para mais de 150 destinos para voar até 21 de Junho de 2017.

Os viajantes podem facilmente decidir para onde viajar, com tarifas incríveis do Brasil para diversos lugares como China (a partir de USD 750), Cingapura (a partir de USD 900), Tailândia (a partir de USD 1080) e Japão (a partir de USD 1260), entre outros.

O Qatar Airways Chief Commercial Officer, Sr. Ehab Amin disse: „Estamos muito satisfeitos em poder oferecer aos nossos passageiros uma grande variedade de escolhas a pelo menos um destino. Com esta nova promoção, os passageiros podem facilmente escolher onde ir, com incríveis ofertas em todas as nossas classes de cabine. Os viajantes poderão aproveitar e escolher qualquer um de nossos 150 destinos da vasta malha aérea Qatar Airways”.  

Recentemente a companhia revelou seu mais recente produto premium, a „Qsuite”; uma suíte totalmente transformável na Classe Executiva; que permite dois, três ou quatro assentos criem um espaço único. Este design patenteado e exclusivo é definido como a transformação de um produto de Primeira classe para a cabine de Classe Executiva.   

A companhia recebeu prêmios de Melhor Classe Executiva pela Skytrax em 2016, e sua casa, o Hamad International Airport, foi também recentemente considerado cinco estrelas pela Skytrax World Airport Awards, e também eleito o sexto melhor aeroporto do Mundo.

A Qatar Airways é uma das cias aéreas que mais crescem no mundo, com mais de 150 destinos. A companhia aérea adicionará novos destinos em 2017, incluindo Chiang Mai, Yanbu, Dublin, Nice, Skopje e muito mais, com uma moderna frota de 195 aeronaves.

*Termos e condições são aplicáveis. Por favor checar no ato da compra no qatarairways.com

Contato: 11 2575 3000

(Foto: http://serwer1790916.home.pl/autoinstalator/wordpress1/wp-content/uploads/2017/04/www2.prnewswire.com_.br3567-e5f0605779b2d83dfa75ab9bbf2765f05e4b9f09.jpg)

FONTE Qatar Airways

SOURCE Qatar Airways

Related Links

http://qatarairways.com

Vail Resorts Reports Certain Ski Season Metrics for the Season-to-Date Period Ended April 23, 2017

BROOMFIELD, Colo., April 26, 2017 /PRNewswire/ — Vail Resorts, Inc. (NYSE:   MTN) today reported certain ski season metrics for the comparative periods from the beginning of the ski season through April 23, 2017, and for the prior year period through April 24, 2016. The reported ski season metrics are for our North American resorts, adjusted as if Whistler Blackcomb was owned in both periods using comparable exchange rates in each applicable period. The metrics exclude results from Perisher and our urban ski areas in both periods. The following data is interim period data and subject to fiscal quarter end review and adjustments.

  • Season-to-date total lift ticket revenue at the Company’s North American mountain resorts, including an allocated portion of season pass revenue for each applicable period, was up 7.4% compared to the prior year season-to-date period. 
  • Season-to-date ancillary spending increased compared to the prior year, with ski school revenue up 4.5% and dining revenue up 3.3% at the Company’s North American mountain resorts. Additionally, retail/rental revenue for North American resort store locations was up 3.4% compared to the prior year season-to-date period.
  • Season-to-date total skier visits for the Company’s North American mountain resorts were down 2.8% compared to the prior year season-to-date period. 

Commenting on the ski season metrics, Rob Katz, Chief Executive Officer, said, „We are pleased with our results as the 2016/2017 ski season comes to its conclusion. While overall visitation was impacted by the slower start to the season, our results highlight the strong performance throughout the year and the stability provided by our season pass, the benefit of our increasing geographic diversification and the success of our sophisticated marketing efforts that continue to support robust destination visitation and guest spending.”

Regarding the outlook for fiscal 2017, Katz said, „Based on our performance this spring we expect that our fiscal year 2017 Resort Reported EBITDA will be in the top half of the guidance range issued on March 10, 2017.”

Discussing spring season pass sales results, Katz continued, „Our attention is already turning to the 2017/2018 season with spring season pass sales underway. The strength of our resort network and the value of our season pass products provide the most compelling proposition for skiers and riders in the industry. To date, we have seen strong overall results with continued growth on top of the record results we saw last spring.”

About Vail Resorts, Inc. (NYSE: MTN)

Vail Resorts, Inc., through its subsidiaries, is the leading global mountain resort operator. Vail Resorts’ subsidiaries operate ten world-class mountain resorts and three urban ski areas, including Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in British Columbia, Canada; Perisher in Australia; Wilmot Mountain in Wisconsin; Afton Alps in Minnesota and Mt. Brighton in Michigan. Vail Resorts owns and/or manages a collection of casually elegant hotels under the RockResorts brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyoming. Vail Resorts Development Company is the real estate planning and development subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.

Forward Looking Statements

Statements in this press release, other than statements of historical information, are forward-looking statements, including our expectations regarding our fiscal 2017 performance, that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries; unfavorable weather conditions or natural disasters; willingness of our guests to travel due to terrorism, the uncertainty of military conflicts or outbreaks of contagious diseases, the cost and availability of travel options and changing consumer preferences; the seasonality of our business combined with adverse events that occur during our peak operating periods; competition in our mountain and lodging businesses; high fixed cost structure of our business; our ability to fund resort capital expenditures; our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks related to a disruption in our water supply that would impact our snowmaking capabilities; risks related to federal, state, local and foreign government laws, rules and regulations; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data; adverse consequences of current or future legal claims; a deterioration in the quality or reputation of our brands, including our ability to protect our intellectual property and the risk of accidents at our mountain resorts; our ability to hire and retain a sufficient seasonal workforce; risks related to our workforce, including increased labor costs; loss of key personnel; our ability to successfully integrate acquired businesses or that acquired businesses may fail to perform in accordance with expectations, including Whistler Blackcomb and Stowe Mountain Resort or future acquisitions; our ability to realize anticipated financial benefits from Park City; our ability to satisfy the requirements of Section 404 of the Sarbanes-Oxley Act of 2002, with respect to acquired businesses; risks associated with international operations; fluctuations in foreign currency exchange rates, particularly the Canadian dollar and Australian dollar; changes in accounting estimates and judgments, accounting principles, policies or guidelines; a materially adverse change in our financial condition; and other risks detailed in the Company’s filings with the Securities and Exchange Commission, including the „Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2016, which was filed on September 26, 2016 and the Company’s Quarterly Report on Form 10-Q for the quarter ended October 31, 2016, which was filed on December 9, 2016.

All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/vail-resorts-reports-certain-ski-season-metrics-for-the-season-to-date-period-ended-april-23-2017-300445850.html

SOURCE Vail Resorts, Inc.

Related Links

http://www.snow.com

Vail Resorts Reports Certain Ski Season Metrics for the Season-to-Date Period Ended April 23, 2017

BROOMFIELD, Colo., April 26, 2017 /PRNewswire/ — Vail Resorts, Inc. (NYSE:   MTN) today reported certain ski season metrics for the comparative periods from the beginning of the ski season through April 23, 2017, and for the prior year period through April 24, 2016. The reported ski season metrics are for our North American resorts, adjusted as if Whistler Blackcomb was owned in both periods using comparable exchange rates in each applicable period. The metrics exclude results from Perisher and our urban ski areas in both periods. The following data is interim period data and subject to fiscal quarter end review and adjustments.

  • Season-to-date total lift ticket revenue at the Company’s North American mountain resorts, including an allocated portion of season pass revenue for each applicable period, was up 7.4% compared to the prior year season-to-date period. 
  • Season-to-date ancillary spending increased compared to the prior year, with ski school revenue up 4.5% and dining revenue up 3.3% at the Company’s North American mountain resorts. Additionally, retail/rental revenue for North American resort store locations was up 3.4% compared to the prior year season-to-date period.
  • Season-to-date total skier visits for the Company’s North American mountain resorts were down 2.8% compared to the prior year season-to-date period. 

Commenting on the ski season metrics, Rob Katz, Chief Executive Officer, said, „We are pleased with our results as the 2016/2017 ski season comes to its conclusion. While overall visitation was impacted by the slower start to the season, our results highlight the strong performance throughout the year and the stability provided by our season pass, the benefit of our increasing geographic diversification and the success of our sophisticated marketing efforts that continue to support robust destination visitation and guest spending.”

Regarding the outlook for fiscal 2017, Katz said, „Based on our performance this spring we expect that our fiscal year 2017 Resort Reported EBITDA will be in the top half of the guidance range issued on March 10, 2017.”

Discussing spring season pass sales results, Katz continued, „Our attention is already turning to the 2017/2018 season with spring season pass sales underway. The strength of our resort network and the value of our season pass products provide the most compelling proposition for skiers and riders in the industry. To date, we have seen strong overall results with continued growth on top of the record results we saw last spring.”

About Vail Resorts, Inc. (NYSE: MTN)

Vail Resorts, Inc., through its subsidiaries, is the leading global mountain resort operator. Vail Resorts’ subsidiaries operate ten world-class mountain resorts and three urban ski areas, including Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in British Columbia, Canada; Perisher in Australia; Wilmot Mountain in Wisconsin; Afton Alps in Minnesota and Mt. Brighton in Michigan. Vail Resorts owns and/or manages a collection of casually elegant hotels under the RockResorts brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyoming. Vail Resorts Development Company is the real estate planning and development subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.

Forward Looking Statements

Statements in this press release, other than statements of historical information, are forward-looking statements, including our expectations regarding our fiscal 2017 performance, that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries; unfavorable weather conditions or natural disasters; willingness of our guests to travel due to terrorism, the uncertainty of military conflicts or outbreaks of contagious diseases, the cost and availability of travel options and changing consumer preferences; the seasonality of our business combined with adverse events that occur during our peak operating periods; competition in our mountain and lodging businesses; high fixed cost structure of our business; our ability to fund resort capital expenditures; our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks related to a disruption in our water supply that would impact our snowmaking capabilities; risks related to federal, state, local and foreign government laws, rules and regulations; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data; adverse consequences of current or future legal claims; a deterioration in the quality or reputation of our brands, including our ability to protect our intellectual property and the risk of accidents at our mountain resorts; our ability to hire and retain a sufficient seasonal workforce; risks related to our workforce, including increased labor costs; loss of key personnel; our ability to successfully integrate acquired businesses or that acquired businesses may fail to perform in accordance with expectations, including Whistler Blackcomb and Stowe Mountain Resort or future acquisitions; our ability to realize anticipated financial benefits from Park City; our ability to satisfy the requirements of Section 404 of the Sarbanes-Oxley Act of 2002, with respect to acquired businesses; risks associated with international operations; fluctuations in foreign currency exchange rates, particularly the Canadian dollar and Australian dollar; changes in accounting estimates and judgments, accounting principles, policies or guidelines; a materially adverse change in our financial condition; and other risks detailed in the Company’s filings with the Securities and Exchange Commission, including the „Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2016, which was filed on September 26, 2016 and the Company’s Quarterly Report on Form 10-Q for the quarter ended October 31, 2016, which was filed on December 9, 2016.

All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/vail-resorts-reports-certain-ski-season-metrics-for-the-season-to-date-period-ended-april-23-2017-300445850.html

SOURCE Vail Resorts, Inc.

Related Links

http://www.snow.com