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Article: MeriStar Hotels & Resorts Reports Third Quarter Results; Pro Forma Earnings Per Share Exceeds Consensus Analyst Estimates.
- Article from:
- Business Wire
- Article date:
- November 4, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON, D.C.--(BUSINESS WIRE)--Nov. 4, 1998--MeriStar Hotels & Resorts, Inc. (NYSE: MMH), the nation's largest independent, non- branded hotel management company, today announced pro forma results for the third quarter and nine months ended September 30, 1998.
For the 1998 third quarter, MeriStar Hotels & Resorts reported pro forma net income of $0.9 million. Pro forma earnings per share were $0.04 on a diluted basis, exceeding consensus analyst estimates by one cent. Pro forma revenues were $269.4 million, and pro forma earnings before interest expense, income taxes, depreciation and amortization (EBITDA) was $4.3 million. For comparison purposes, pro forma ...