Viad 3Q net falls 74 percent
The company earned $1.2 million, or 6 cents per share, for the quarter that ended Sept. 30. That was down from $4.8 million, or 23 cents per share during the same period last year. Revenue rose to $216.2 million, from $215.1 million a year ago.
The company said its year-ago quarter benefited from shows that happen every other year. Revenue from shows that repeated from a year ago rose 10.9 percent.
Viad expects to lose 25 cents to 35 cents per share in the fourth quarter, with revenue between $180 million and $190 million. The drop in profits is because of seasonal operating losses from its newly acquired Travel & Recreation properties and costs for consolidating some facilities. It will also have a less-profitable mix of business compared to a year earlier.
Viad shares rose 11 cents to $18.16 in afternoon trading along with a rally across the broader market.
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