May 18, 2000
In the NEWRY, Maine, item of May 15 with the headline ``American Skiing sees higher revenue, EBITDA in Q3,'' please
read in the fourth paragraph ``The company said real estate revenue should rise dramatically ....'' not ``The company
said real estate earnings should rise dramatically ....''
A corrected version follows:
NEWRY, Maine, May 15 (Reuters) - American Skiing Co. (NYSE:SKI) on Monday said it expects third-quarter total revenues
and earnings before interest, income taxes, depreciation and amortization (EBITDA) to be higher than a year ago,
powered by strong growth in its real estate operations.
American Skiing, an operator of ski and golf resorts including Mount Snow in Vermont and Steamboat in Colorado,
said that total revenues for the period should be between $221 million and $223 million, compared with $164.6 million
a year ago.
The company said EBITDA should be in the range of $69 million to $71 million. The company posted EBITDA of $67
million in the year-ago period.
The company said real estate revenue should rise dramatically, to a projected range of $72 million to $73 million,
compared with $10.3 million in 1999. American Skiing expects resort revenues to be in the range of $149 million
to $150 million, versus $154.3 million last year.
The shares of American Skiing, which said it will report its financial results in early June, closed unchanged
at 1-3/4 in trading on the New York Stock Exchange before the news was released.