Sonesta Announces 2010 Third Quarter Earnings
November 12, 2010 11:49 AM
Sonesta International Hotels Corporation (Nasdaq: SNSTA) today reported a net loss of $589,000, or $(0.16) per share, in the quarter ended September 30, 2010.
This compares to net income of $27,379,000, or $7.41 per share, in the quarter ended September 30, 2009.
Operating revenues, excluding other revenues from managed and affiliated properties, were $17,737,000 in the 2010 quarter, compared to $14,517,000 in the 2009 quarter.
The Company had an operating loss of $443,000 in the third quarter of 2010, compared to operating income of $148,000 during the same period in 2009.
For the nine-month period ended September 30, 2010, net loss was $1,124,000, or $(0.30) per share, compared to net income of $25,058,000, or $6.78 per share, for the nine-month period ended September 30, 2009.
