American Skiing Company boosted its fiscal fourth quarter revenue and income, mainly through real-estate deals at its eastern resorts. Total consolidated revenue was $17.0 million, up 6.9% compared with $15.9 million for the fourth quarter of fiscal 2003. Resort revenue was flat at $13.6 million while Real estate revenue was up 54.5% to $3.4 million versus $2.2 million for 2003.

The most drastic improvement was in profitability. Net income for the fourth quarter was $9.9 million, or 13 cents per basic common share and 13 cents per diluted common share, compared with net loss of $39.2 million, or $1.24 per basic and diluted common share for the fourth quarter of fiscal 2003.

Fiscal 2004 showed significant improvements as well, mainly on the shoulders of The Canyons resort in Utah, which posted a 12% increase in skier visits. Because of weather related declines in its eastern resorts, AESK resort revenues were down slightly for the year to $250.7 million compared to $251.6 million last year.

Lift ticket sales for the fiscal 2004 year were up 1.2% to $112.6 million, but total skier visits for the year declined 2.8% to 3.9 million. The company’s western resorts experienced a 1.1% increase in skier visits while the east showed an 8.6% decline. Results in the east were said to be positively impacted by the sale of “innovative lift ticket products” at its Sunday River and Attitash resorts.

“Our results out west were nothing short of spectacular,” said CEO B.J. Fair. “The Canyons experienced yet another year of significant growth in skier visits. And both Steamboat and The Canyons noted increased activity from destination markets,” added Fair. “Our success with the Sunday River-Attitash season pass helped mitigate the impact of weather and has led us to the creation of the six resort All-For-One season pass. This new product is expected to dramatically impact our business models in the east,” added Fair.