Phoenix, AZ, July 01, 2022 (GLOBE NEWSWIRE) — InnSuites Hospitality Trust (NYSE American: IHT) continued its strong rebound with 2023 First Fiscal Quarter (February 1, 2022, to April 30, 2022), revenues of approximately $2.136 million, up 53% from the prior Fiscal Year First Quarter.
Total Consolidated Fiscal First Quarter Net Income increased 139% to $376,187.
Earnings Per Share based on this First Fiscal Quarter Consolidated Net Income were $0.05 per share, up $0.03 from prior year income of $0.02, an all-time First Fiscal Quarter record.
Total Trust Equity increased to $4,312,186 at the end of Fiscal First Quarter 2023, up 56%, or $1,551,898 million, from the $2,760,288 reported at the end of the prior Year Fiscal First Quarter.
Net Income before non-cash depreciation expense was $359,806 for the Fiscal First Quarter ended April 30, 2022, up 358%, or $281,269, compared to prior Year Fiscal First Quarter ended April 30, 2022.
Total Revenues for the Twelve Month Trailing Period ended April 30, 2022, were approximately $7.15 million, up 72% from the previous Twelve Month Trailing period.
Operating Income for the same Twelve Month Trailing period (ended April 30, 2022), improved by $2.8 million, compared to the same previous twelve month period (ended April 30, 2021).
Consolidated Net Income was approximately $1 million for the most recent twelve month period (ended April 30, 2022), an improvement of $3.3 million, from the same prior year twelve month period…
