884219--2/27/2009--VIAD

related topics

{operation, natural, condition}

{competitive, industry, competition}

{customer, product, revenue}

{cost, operation, labor}

{financial, litigation, operation}

{acquisition, growth, future}

Exhibition rotation may impact overall profitability and makes comparisons between periods difficult. Viad s businesses are adversely affected by disruptions in the travel industry, particularly those adversely affecting the hotel and airline industries. The failure of a large customer to renew its services contract or the loss of business from convention facilities would adversely impact revenues. Viad s key businesses are relationship driven. Completed acquisitions may not perform as anticipated or be integrated as planned. Viad s businesses are seasonal, which causes results of operations to fluctuate and makes results of operations particularly sensitive to adverse events during peak periods. Transportation disruptions and increases in transportation costs could adversely affect Viad s businesses and operating results. Union-represented labor creates an increased risk of work stoppages and higher labor costs. Viad competes in competitive industries and increased competition could negatively impact operating results. Liabilities relating to prior and discontinued operations may adversely affect results of operations.

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884219--2/27/2009--VIAD_CORP