Innsuites Hospitality Trust (IHT) Improved Third Quarter Results

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Dec 15, 2011, 05:25 ET

PHOENIX, Dec. 15, 2011 /PRNewswire/ -- IHT (NYSEAMEX: IHT) reported operating income of $45,000 for the nine months ended October 31, 2011, an increase of $715,000 from the prior year period operating loss of $(670,000). For the third fiscal quarter ended October 31, 2011, the Trust reported an operating loss of $(292,000), an improvement of $201,000 from the prior year period operating loss of $(493,000).

The Trust reported revenue of $12.7 million for the nine months ended October 31, 2011, an increase of 7.9% from $11.8 million for the prior year period. The Trust reported revenue of $3.6 million for the three months ended October 31, 2011, an increase of 9.3% from $3.3 million for the prior year period.

With the exception of historical information, the matters discussed in this news may release 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

SOURCE InnSuites Hospitality Trust