SAM Magazine—Wildwood, Mo., Sept., 15, 2015—Peak Resorts Inc, reduced its spending for its fiscal first quarter, ending July 31, 2015, helping to reduce its net loss to $7.1 million, compared to a net loss of $8.2 million during the previous year's first quarter. The company cited lower interest expense for much of the improvement. Revenue was nearly flat for the spring/summer period, $5.43 million vs. $5.6 million in the year-earlier period.

SAM Magazine—Wildwood, Mo., Sept., 15, 2015—Peak Resorts Inc, reduced its spending for its fiscal first quarter, ending July 31, 2015, helping to reduce its net loss to $7.1 million, compared to a net loss of $8.2 million during the previous year's first quarter. The company cited lower interest expense for much of the improvement. Revenue was nearly flat for the spring/summer period, $5.43 million vs. $5.6 million in the year-earlier period.

"Overall, we are excited to be implementing our roadmap for growth, which calls for a mix of organic growth, resort development and acquisitions. We continue to evaluate potential value-add acquisitions,” said Timothy D. Boyd, president and CEO.

Peak Resorts completed an IPO in December 2014. At the time, the company said it netted $82 million from the stock sale, which it intended to use to pay down debt and reduce interest expense, and for other corporate purposes, including acquisitions.

Stephen J. Mueller, Peak Resorts' chief financial officer, noted, "Total revenue and resort operating expenses both declined slightly in the first quarter. Through July 31, higher revenue from the zip line rider attraction at the Attitash resort did not offset lower food and beverage revenue related to the termination of a restaurant lease at our Big Boulder resort in March 2015.

"The zip line at Attitash is proving to be a popular attraction. We expect it to continue to attract visitors through the fall, as it gives riders a great view of the Mount Washington Valley from high above the tree canopy. We expect a strong contribution from the zip line to our second-quarter revenue."

Peak Resorts 2015-16 season pass sale deadline is on the fast-approaching Columbus Day weekend, and the company is expecting strong demand.

Peak Resorts currently operates 13 ski resorts primarily located in the Northeast and Midwest, 12 of which are company owned. Resorts in their portfolio include: Alpine Valley and Boston Mills/Brandywine, Ohio; Hidden Valley, Mo.; Attitash and Wildcat, N.H.; and Mount Snow, Vt.

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