InnSuites Hospitality Trust (IHT) Reports Net Income for First Quarter of Fiscal 2011
InnSuites Hospitality Trust reported net income attributable to controlling interest of $97,000, or $0.01 per diluted share, in the first fiscal quarter of 2011, which ended 4/30/2010. The company earned net income of $532,000, or $0.04 per diluted share, in the corresponding quarter of fiscal 2010. InnSuites Hospitality Trust reported that revenues in the first quarter of fiscal 2011 fell on a year over year basis, from $5.5 million in the first quarter of fiscal 2010 to $4.9 million in the quarter that just ended. The management of InnSuites Hospitality Trust cited the current economic environment for the decline in…