Red Lion Hotels Corporation Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter of 2018
For the year, the company reported total revenues of $171,926,000 against $148,351,000 a year ago. Operating income was $1,103,000 against operating loss of $146,000 year ago. Loss from continuing operations before income taxes was $6,331,000 against income of $6,572,000 a year ago. Net loss from continuing operations was $1,669,000 or $0.01 per basic and diluted share against $6,094,000 or $0.29 per basic and diluted share a year ago. Net income and comprehensive income attributable to the company was $581,000 or $0.02 per basic and diluted share against loss of $4,677,000 or $0.23 per basic and diluted share a year ago. Adjusted EBITDA from continuing was $22,374,000 against $17,230,000 a year ago. Adjusted net loss was $40,000 against $5,139,000 a year ago. EBITDA was $22,274,000 against $18,319,000 a year ago. Net cash provided by operating activities was $14,516,000 against $5,562,000 a year ago. Capital expenditures were $9,779,000 against $33,511,000 a year ago.
For the 2018, companies expect to realize a net loss of approximately $500,000 in the first quarter. The performance is expected to be down from the same period in 2017 by $1.5 million. A large portion of the decrease is due to the sale of 5 hotels in February of this year.