884219--3/8/2010--VIAD

related topics

{operation, natural, condition}

{competitive, industry, competition}

{customer, product, revenue}

{cost, operation, labor}

{acquisition, growth, future}

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 would adversely affect Viad s businesses and operating results. Union-represented labor creates an increased risk of work stoppages and higher labor costs. Obligations to fund multi-employer pension plans to which Viad contributes may have an adverse impact on operating results. Viad competes in competitive industries and increased competition could negatively impact operating results.

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884219--3/8/2010--VIAD_CORP