Viad's 2011 Full-year Revenues Up 11.6 Percent to $942.4 Million From 2010; GES' Division Sees 11.1-percent Revenue Increase
Phoenix-based Viad, the parent company of Las Vegas-based Global Experience Specialists, recently posted fourth-quarter and year-end earnings results, with full-year revenues of $942.4 million, an 11.6-percent increase from the same period during 2010.
Fourth-quarter company revenues also saw upticks from $186,965 in 2010 to $197,407 in 2011, a 5.6-percent increase.
Viad also closed out 2011 with net income from continued operations of $8.8 million.
The company’s marketing and events group, which has been impacted in the past few years by the global recession and GES is a part of, saw gains by the end of 2011.
Full-year marketing and events group revenue rose from $756.5 million in 2011 to end the year with $840.6 million, an 11.1-percent increase.
U.S. marketing and events group’s revenue improved $60.4 million to $631.4 million in 2011.
The increases came from increased exhibitor spending, new business wins and positive show rotation, including the massive triennial Association of Equipment Manufacturers’ CONEXPO-CON/AGG and IFPE show held in 2011 in Las Vegas.
CONEXPO-CON/AGG and IFPE show officials also reupped the show’s contract with GES for the 2014 shows, according to a GES spokesperson.
Viad’s marketing and events group’s overseas operations were particularly strong, with full-year international segment revenue increasing $20.9 million to $218.6 million in 2011.
The increase in revenues primarily was because of new show wins, positive show rotation of approximately $4 million and base same-show growth.
“Our marketing and events group made great strides in 2011, with meaningful revenue growth and improved profitability,” said Paul B. Dykstra, Viad’s president, chairman and CEO.
He added, “Our realigned U.S. sales force was successful in capturing additional exhibitor spending. Our international segment leveraged our leading market positions and the strength of our worldwide network to win new business in the United Kingdom and Middle East.”
The marketing and events group’s 2011 fourth-quarter earnings also saw positive revenues to $189.8 million, up $9.3 million from the same period in 2010. The growth was driven by primarily by the international segment.
“We expect the marketing and events group to benefit from continued industry growth and cost structure improvements we made during the past few years,” Dykstra said.
He added, “We remain focused on delivering high-quality customer service, capitalizing on market opportunities and continuing to increase efficiencies and drive down costs.”
For 2012, base same-show revenue is expected to see mid-single-digit increases, with annual show rotation not having a major impact on full-year revenue, according to GES officials.