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REDMOND, WA-While many businesses in recreation-based industries have been hit hard by Sept. 11, Trendwest Resorts Inc. appears to be bucking the trend. Bill Peare, president and CEO of Trendwest says, “Clearly, today’s consumers value the flexibility that drive-to locations offer, as exemplified by WorldMark’s continued strong occupancy rates, and our continued ability to attract qualified guests to our urban sales offices.”

The company’s successes recently earned it a raking 33rd as a Forbes 200 Best Small Companies in America, and they are reflected in its third-quarter earnings as announced Thursday.

The vacation timeshare company says its third-quarter net income of $15.8 million — or $0.61 per diluted share. This represents is an increase of 36.1% from last year’s third quarter, which yielded $11.6 million — or a split-adjusted $0.45 per share.

For the nine months ended Sept. 30, Trendwest says its net income was $41.6 million — or $1.62 per diluted share. These figures show a 29.2% jump above the $32.2 million reported for the same time last-year, which was $1.26 split-adjusted per diluted share.

For the quarter ended Sept. 30, the company reports total revenues of $129.2 million, a 36.1% increase over the $94.9 million reported in the same quarter last year. During this period, the company says its revenues reached what it calls “a record” $359 million — up 43.5% from $250.1 million reported for the same period last year.

Trendwest is in the business of selling and financing “vacation credits” in WorldMark and The Club. These credits entitle owners to the use of a fully-furnished vacation unit based on the number of credits purchased. Trendwest also manages WorldMark resort properties.

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