Gaylord Entertainment Co. (NYSE: GET) reported Tuesday that the company earned a slight increase in second quarter earnings, which was helped by cancellation fees.
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Gaylord, the owner of convention resorts and country music's Grand Ole Opry, earned $10.1 million, or 24 cents per share, for the period ended June 30. In the year-ago period, the company earned $8.8 million, or 21 cents per share.
Income from continuing operations improved to $10.1 million, or 25 cents per share, from $8.5 million, or 21 cents per share.
Analysts predicted net income of 11 cents per share, according to a Thomson Reuters survey.
Revenue in the quarter was $218.3 million, down 16 percent from $258.3 million. The results missed Wall Street's estimate of $228.7 million.
Gaylord's total revenue per available room (revpar) fell 14.3 percent. The results included about $8.2 million in attrition and cancellation fees compared with $3.6 million in fees a year earlier.
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