Total consolidated revenue was $103.0 million for the second quarter of fiscal 2004, compared with $100.3 million for the second quarter of fiscal 2003.
Of the total, resort revenue was $92.9 million for the quarter, compared with $99.0 million for the second quarter of fiscal 2003. The decline in resort revenue primarily reflects lower eastern skier visits, according to ASC.
Real estate revenue was $10.1 million, versus $1.3 million for the comparable period in fiscal 2003. The sale of three land parcels at Steamboat resort accounted for $8.9 million of the 2004 total.
Resort operating expenses narrowed, from $88.3 million for the six-month period in 2003 to $84.9 million in the 2004 period, as a result of aggressive cost control efforts, ASC said. But this reduction was offset by higher costs associated with compliance with the Sarbanes-Oxley Act and other corporate and legal expenses, according to ASC. \