The Interpreter Posted November 5, 2009 Share Posted November 5, 2009 ...In the third quarter of 2009, adjusted EBITDA increased 7.7 percent to $24.8 million from $23.0 million in the third quarter of 2008. Total revenues increased 10.7 percent to $76.8 million from $69.4 million in the third quarter of 2008. In light of the challenging economic environment, the Company remained focused on minimizing controllable costs. The three categories that make up the majority of controllable costs are resort departmental expenses, selling, general and administrative (SG&A) costs and property operating costs. As a percentage of revenues, these costs were 61.9 percent compared to 59.1 percent in the 2008 third quarter. The slight year over year increase in costs was primarily due to less capitalized labor and overhead costs for construction projects in 2009 as compared to 2008, and the effect of the ramping up of operations at the Company`s Concord, North Carolina resort that opened in March 2009.... ttp://www.reuters.com/article/pressRelease/idUS125715+04-Nov-2009+BW20091104 Quote Link to comment Share on other sites More sharing options...
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