Viad Corp. (VVI: Quote) posted first quarter net income attributable to Viad of $1.03 million or $0.05 per share versus $9.79 million or $0.48 per share last year.
Revenues were $268.77 million, down from $290.1 million in the prior-year quarter.
Paul Dykstra, chairman, president and chief executive officer, said, "Viad had a strong start to the year, driving better than expected revenue, which enabled us to post operating results at the high-end of our prior guidance.
The Marketing & Events Group posted U.S. base same-show revenue growth of 9.3 percent, and the Travel & Recreation Group completed its fourth acquisition since January 2011. Overall exhibitor spending was strong, and we had solid execution from our team. Our entire organization remains focused on driving additional growth in revenue and profits, and we continue to expect full year results to show substantial improvement over 2011."
Moving ahead, for the second quarter, Viad's income per share is expected to be in the range of $0.08 to $0.19. This compares to second quarter 2011 income before other items of $0.26 per share. Revenue is expected to be in the range of $235 million to $250 million.
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by RTT Staff Writer
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