PHOENIX, June 13, 2013 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE MKT:IHT) reported Consolidated Net Income was $783,000 for the first three months of 2014 fiscal year ended April 30, 2013 compared to $645,000 in the first three months of the prior fiscal year, an increase of $138,000 or 21%. Included is non-cash depreciation of approximately $455,000 and $434,000 for the first three months of 2014 and 2013 fiscal years, respectively.
On June 11, 2013, InnSuites Hospitality Trust renewed their line of credit with RepublicBankAZ, N.A. with a maturity date of June 23, 2014. All other terms and conditions remained the same.
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.
|NEWS BULLETIN||RE: INNSUITES HOSPITALITY TRUST|
|FROM||INNSUITES HOTEL CENTRE|
|INNSUITES HOSPITALITY TRUST||1625 E. NORTHERN AVENUE, # 105|
|NYSE AMEX:IHT||Phoenix, Arizona 85020|
|FISCAL 2014||Phone: 602-944-1500|
|FULL YEAR RESULTS|
|FOR FURTHER INFORMATION:|
|Marc Berg, Executive Vice President|
Source:InnSuites Hospitality Trust