ILX Resorts reports 4Q 2007 results

Sedona, AZ - ILX Resorts Incorporated (AMEX: ILX) a leading developer, operator and marketer of upscale flexible-stay vacation ownership resorts in the western United States, announced net income for the fourth quarter of 2007 of $104,255 or $0.03 per share both basic and diluted. This compares with net income of $170,114 or $0.05 per share in the fourth quarter 2006.

Revenue for the three months ended December 31, 2007 was $12.7 million as compared to $13.3 million for the comparable period in 2006. The decrease in revenue is due to the June 2007 closure of the Rancho Mañana Sales Office.

“During the fourth quarter, we began to achieve higher sales volume per tour guest from the Sedona Sales Office, as a result of changes implemented in the prior quarter,” said Joe Martori, Chairman and CEO. He continued, “We are pleased to have addressed the performance issues that had impacted this significant office and look forward to the positive effects of further changes put in place in early 2008 designed to enhance profitability.”

ILX Resorts acquires, develops, and operates premier timeshare resorts primarily in the western United States that provide its owners with extraordinary vacation experiences. ILX's portfolio of world-class properties includes eight resorts in Arizona, one in Indiana, one in Colorado, one in San Carlos, Mexico and land in Puerto Peñasco (“Rocky Point”), Mexico and Sedona, Arizona, both of which are in the final planning stages. It also, through Premiere Vacation Club, has acquired, and continues to acquire, inventory at the Carriage House in Las Vegas and in addition has acquired inventory at the Scottsdale Camelback Resort in Scottsdale, Arizona. For more information, visit: www.ilxresorts.com.

For more information, contact Joseph P. Martori, Chairman, or Margaret Eardley, Chief Financial Officer, at 602-957-2777.
 

source:  ILX

[Home Page] [Business Home Page]