PHOENIX, Sept. 11, 2013 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE MKT:IHT) reported Consolidated Net Income was $73,000 for the first six months of 2014 fiscal year ended July 31, 2013 compared to a Consolidated Net Loss of ($252,000) in the first six months of the prior fiscal year, an increase of $325,000. Included is non-cash depreciation of approximately $899,000 and $867,000 for the first six months of 2014 and 2013 fiscal years, respectively. Consolidated Net Loss was ($711,000) for the 2nd Quarter of fiscal year 2014 as compared to ($897,000) for the 2nd Quarter of fiscal year 2013, an improvement of $186,000. Included in 2nd quarter results is $445,000 and $434,000 of non-cash depreciation expense.
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 MKT:IHT||Phoenix, Arizona 85020|
|FISCAL 2014||Phone: 602-944-1500|
|2ND QUARTER RESULTS|
|FOR FURTHER INFORMATION:|
|Marc Berg, Executive Vice President|
Source:InnSuites Hospitality Trust