Felcor Lodging Trust (FCH) saw its loss narrow to $5.10 million, or $0.08 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $8.21 million, or $0.10 a share. Revenue during the quarter went down marginally by 0.96 percent to $222.98 million from $225.15 million in the previous year period.
Cost of revenue went down marginally by 2.64 percent or $4.12 million during the quarter to $152.14 million. Gross margin for the quarter expanded 117 basis points over the previous year period to 31.77 percent.
Total expenses were $214.37 million for the quarter, down 1.02 percent or $2.22 million from year-ago period. Operating margin for the quarter expanded 6 basis points over the previous year period to 3.86 percent.
Operating income for the quarter was $8.61 million, compared with $8.56 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $67.10 million compared with $65.11 million in the prior year period. At the same time, adjusted EBITDA margin improved 117 basis points in the quarter to 30.09 percent from 28.92 percent in the last year period.
For fiscal year 2016, Felcor Lodging Trust expects net income to be in the range of $0.60 million to $4.60 million.
Occupancy revenue was $174.17 million for the quarter, down 1.81 percent or $3.21 million. Food and beverage revenue during the quarter was almost stable at $34.26 million, when compared with the previous year period. Revenue from other hotel operating activities was $12.74 million for the quarter, up 8.67 percent or $1.02 million from year-ago period.
Other income during the quarter was $1.81 million, up 7.81 percent or $0.13 million from year-ago period.
Net receivables were at $46.74 million as on Sep. 30, 2016, up 26.05 percent or $9.66 million from year-ago.
Total assets declined 10 percent or $191.46 million to $1,722.71 million on Sep. 30, 2016. On the other hand, total liabilities were at $1,469.41 million as on Sep. 30, 2016, down 6.01 percent or $94 million from year-ago.
Return on assets moved up 15 basis points to 0.56 percent in the quarter. Return on equity for the quarter stood at negative 4.56 percent as compared to a negative 4.18 percent for the previous year period.
Debt comes downTotal debt was at $1,324.42 million as on Sep. 30, 2016, down 6.64 percent or $94.21 million from year-ago. Shareholders equity stood at $249.38 million as on Sep. 30, 2016, down 28.02 percent or $97.06 million from year-ago. As a result, debt to equity ratio went up 122 basis points to 5.31 percent in the quarter.
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