PHOENIX, June 12, 2015 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE MKT:IHT)
InnSuites Hospitality Trust reported Consolidated Net Income of approximately $407,000 for the first fiscal quarter ended April 30, 2015 compared to approximately $284,000 in the first fiscal quarter of the prior year, an increase of 43%. Consolidated Net Income before non-cash depreciation expense in the first fiscal quarter (February 1, 2015 to April 30, 2015) was approximately $863,000 compared to Consolidated Net Income before non-cash depreciation in the prior year fiscal quarter (February 1, 2014 to April 30, 2014) of approximately $728,000, an increase of approximately $135,000. Non-cash depreciation was approximately $456,000 and $444,000 for the current year first fiscal quarter and the prior year first fiscal quarter, respectively. InnSuites Hospitality Trust continues to place emphasis on its fast growing IBC Hotels hospitality industry services division.
With the exception of historical information, the matters discussed in this news release may include "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance due to numerous risks and uncertainties and are described in greater detail in our filings with the Securities and Exchange Commission. Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained.
For more information visit www.innsuitestrust.com or www.sec.gov
CONTACT: FOR FURTHER INFORMATION:
Marc Berg, Executive Vice President
602-944-1500
email: mberg@innsuites.com
