Peak Resorts Inc., the Wildwood-based owner and operator of ski resorts, posted a fiscal first-quarter loss of $7.1 million, narrower than the $8.2 million it lost in the prior year's quarter as it saw lower interest expenses.
The company's interest expense fell 37 percent in the recent quarter, to $2.7 million.
Peak Resorts' Hidden Valley Ski Resort in Wildwood
For its fiscal 2016 first quarter ended July 31, Peak Resorts reported revenue of $5.4 million, down 3 percent from the first quarter of fiscal 2015.
“Total revenue and resort operating expenses both declined slightly in the first quarter," Peak Resorts CFO Stephen Mueller said Thursday in a statement. "Through July 31, higher revenue from the zipline rider attraction at the Attitash (Bartlett, New Hampshire) resort did not offset lower food and beverage revenue related to the termination of a restaurant lease at our Big Boulder (Lake Harmony, Pennsylvania) resort in March 2015."
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