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Article: MeriStar Hotels & Resorts Reports Third Quarter Results; Year to Date Earnings Per Share Increase 53 Percent.
- Article from:
- Business Wire
- Article date:
- October 25, 1999
CopyrightCOPYRIGHT 1999 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--(BUSINESS WIRE)--Oct. 25, 1999--
MeriStar Hotels & Resorts, Inc. (NYSE: MMH), the nation's largest independent hotel management company, today announced results for the third quarter and nine months ended September 30, 1999.
Earnings for the 1999 third quarter were $(0.3) million, or $(0.01) per share on a diluted basis. Revenues for the period increased 16.8 percent to $314.8 million, and earnings before interest expense, income taxes, depreciation and amortization (EBITDA) for the quarter were $1.7 million. Results were in line with consensus analyst expectations. Year to date earnings per share increased 53.3 percent to $0.23.
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