Boca Resorts Announces Record Fourth Quarter Results

BOCA RATON, FL Boca Resorts, Inc., an owner and operator of luxury resorts and entertainment and sports businesses, has reported operating results for its fourth quarter ended June 30, 2000. (Boca operates on a July to June fiscal year.) Net income for the quarter was $7.8 million, or $0.19 per diluted shared, compared to a loss of $9.6 million, or $0.23 per diluted share for the three months ended June 30, 1999. EBITDA for the quarter rose 75% to $32.2 million versus $18.4 million for the comparable period last year. Boca Resorts fourth quarter RevPAR rose 6% over last year s fourth quarter primarily due to an increase in ADR. The results for the recently completed quarter were $0.01 better than consensus estimates as reported by market service, First Call/Thomson Financial. (8/16/00)