$IHT Stock Up On 81 Percent Increase In Revenue

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IHT stock exploded 24 percent higher in after-hours trading on October 20, 2021, after the company reported an 81% increase in revenue.


Phoenix, AZ, Oct. 20, 2021 (GLOBE NEWSWIRE) — InnSuites Hospitality Trust (NYSE American: IHT) experienced a sharp increase in Hotel Operation earnings for both the second Fiscal Quarter and first half of Fiscal 2022 (February 1, 2021, to January 31, 2022). In addition, the IHT efficient clean energy innovation diversification investment targets its first prototypes under development since January 2020, to be in operation within the next six months.

IHT reported Fiscal 2022 Second Quarter profit of $401,564, for the most recent three months, which is an increase of over $1.6 million from the same prior year period of ($1,267,385). Earnings Per Share based on this Consolidated Net Income amount were $0.04, up from prior year loss of ($0.14).

Revenues were approximately $1.7 million for the 2022 Fiscal Second Quarter Ended July 31, 2021, an increase of over 81% or greater than $750,000 from revenues of approximately $925,000 for the same prior year period. The substantial increase in revenue and earnings in Fiscal Q2 was largely attributable to the continuation of the solid start the Trust’s operations are off to in the current Fiscal Year 2022 (February 1, 2021-January 31, 2022), along with the decreased impact of Covid-19, and decreased travel restrictions. These extremely solid results have continued to accelerate in Fiscal Q3 of the current year.

These are all positive signs, and indicative that things continue to progress positively and remain heading in the right direction as the Travel Industry, the Economy as a whole, and InnSuites Hospitality Trust (IHT) specifically, continue to rebound and recover. Economic conditions continued to improve for the Trust for the third consecutive Quarter. Q2 and Q1 of Fiscal Year 2022, as well as Q4 of Fiscal Year 2021 have all shown increased elevated signs of strength, growth, and continued positive profit improvement.

Our hotel operations continue to perform substantially better Year to Date for the first half of Fiscal Year 2022, with Consolidated Net Income of approximately $560,000, which is an increase in excess of $2.1 million compared to the first half of Fiscal Year 2021. Earnings Per Share based on this Consolidated Net Income amount were $0.06, up from prior year loss of ($0.18). Additionally, The First Half of Fiscal 2022 (February 1, 2021-July 31, 2021), profits far exceed their pre-Covid counterparts of Fiscal Year 2020 and Fiscal Year 2019 by over $1.2 million each year.

InnSuites Hospitality Trust (IHT) has made a diversification investment in excess of $1 million in privately held UniGen Power, Inc. (UniGen), a company developing a patented, high profit potential, efficient clean energy generation innovation. The UniGen profit potential is promising, as evidenced by UniGen’s current pursuit of three additional valuable patents. IHT holds convertible bonds and warrants that, if fully exercised, could potentially result in IHT holding up to an approximate 25% ownership stake in UniGen. IHT is informed that UniGen has made progress to date on development of this innovation, with the first two Prototypes now scheduled to be operational within the next six months in Fiscal in Q1 of 2022.

Said James Wirth President, CEO, and IHT Board Chairman:

“IHT hotel profits continue their strong recovery and rebound to levels higher than previous pre-Covid comparable periods, as IHT continues to execute our strategic plan of maximizing current hotel operating profits while redeploying hotel real estate profits; and moving toward IHT’s high potential diversification investment in the efficient, clean-energy power generation UniGen innovation, a positive move that is increasingly recognized by investors.”

“UniGen’s high profit potential is encouraging for IHT investors, with 22 months of design and development work now complete.”

“IHT Management has long believed, as indicated in past IHT SEC Filings, that the investor community continues to value IHT well below its full potential true underlying value (both real estate equity/hotel operations, and clean energy opportunity potential).”

Fiscal Year 2022 extended IHT’s uninterrupted, continuous annual dividends to over 50 years, with semi-annual dividends paid in July 2021, and scheduled for January 2022, continuing this impressive uninterrupted annual dividend record.

IHT Stock Technical Analysis

The technical rating of IHT is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation. For more technical analysis of IHT stock and for email alerts when the technical rating improves click here.

Stock chart of IHT stock on October 20, 2021 shows too much volatility for a good setup.
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