SILVER SPRING, MD— Choice Hotels International reported 2001 recurring net income of $55.6 million, or $1.25 recurring diluted earnings per share (EPS), compared to $58.4 million in recurring net income and $1.10 recurring diluted EPS reported for 2000. The company reported recurring net income of $12.6 million for the fourth quarter 2001, compared to $14.8 million for fourth quarter 2000. Recurring diluted EPS was $0.29 for the fourth quarter 2001, an increase of 3.6% over $0.28 for 2000. Recurring net income and diluted EPS exclude the impact of certain previously announced charges for restructuring and asset impairment. “Choices strong performance in such a challenging environment in 2001 speaks well for the soundness of our business model,” said Charles Ledsinger, Jr., president and CEO. “Our continued ability to drive unit growth, a key ingredient in our overall strategy of size, scale and distribution, is a testament to the intense focus and dedication of our associates.”
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