Diamond Resorts Q2 2015 total revenue up 11%

Diamond Resorts International, Inc. (NYSE: DRII) said second quarter 2015 total revenue increased USD22.5 million, or 10.8 percent, to USD231.5 million.

Net income increased USD39.6 million to USD36.9 million from the prior year loss of USD2.7 million.

Pre-tax income, excluding non-cash stock based compensation and a charge related to the loss on extinguishment of debt and the contract renegotiation with Interval International during the period in 2014, increased USD21.6 million, or 45.9 percent, to USD68.8 million.

Adjusted EBITDA for the period in 2014 included a one-time benefit of USD1.8 million related to the renegotiation of our agreement with Interval International. Excluding this benefit in 2014, Adjusted EBITDA increased USD8.4 million, or 9.7 percent to USD95.2 million.

Diamond Resorts International, with its network of more than 330 vacation destinations located in 34 countries throughout the continental United States, Hawaii, Canada, Mexico, the Caribbean, South America, Central America, Europe, Asia, Australasia and Africa, provides guests with choice and flexibility to let them create their dream vacation, whether they are traveling an hour away or around the world.