Viad Q1 Profit Increases - Quick Facts

(RTTNews) - Viad Corp (VVI) said that its first-quarter of 2014 net income attributable to common shareholders significantly increased to $21.88 million from the prior year's $8.07 million, with earnings per share improving to $1.08 from $0.40 last year.

Income from continuing operations attributable to common shareholders was $9.31 million, or $0.46 per share, up from $8.45 million or $0.42 per share last year.

Viad's income before other items of $7.4 million, or $0.36 per share, excludes $107,000 of restructuring charges, after taxes, and $2.0 million, or $0.10 per share, related to favorable tax matters. This compared to 2013 first quarter income before other items of $0.44 per share.

Revenue was $285.6 million as compared to $285.2 million in 2013.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share and revenues of $281.68 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, Viad's income per share is expected to be in the range of $0.34 to $0.44. This compares to second quarter 2013 income before other items of $0.35 per share. Revenue is expected to be in the range of $237 million to $251 million as compared to $246.2 million in the 2013 second quarter. Segment operating income is expected to be in the range of $11.5 million to $15.0 million as compared to $11.5 million in 2013. Analysts expect the company to report earnings of $0.33 per share and revenues of $247.17 million for the second-quarter.

In Marketing & Events Group, Revenue for fiscal 2014 is expected to increase at a high single to low double-digit rate from $844.9 million in 2013.

In Travel & Recreation Group, annual revenue is expected to increase at a low to mid single-digit rate from $108.4 million in 2013. Exchange rate variances are expected to negatively impact revenue by approximately $6 million versus 2013.