HENDERSONVILLE, TN ShoLodge reported results for the first quarter ended April 22, 2001, showing net income of $1.6 million, or $0.29 per share, after the extraordinary gain on early retirement of debt, net of tax, of $54,000, or $0.01 per share. Last year ShoLodge reported a net loss of $2 million, or $0.38 per share, after the extraordinary gain on early retirement of debt, net of tax, of $251,000, or $0.05 per share.
Total operating revenues for the first quarter of 2001 were $11.1 million compared with $27.4 million in the first quarter a year ago, reflecting the effects of the sale of ShoLodges operating interests in 28 hotels in the second quarter of 2000, and two additional hotels in the first quarter of this year. For the first quarter of 2001, total revenues from hotel operations were $4.3 million compared with $22.2 million in the first quarter of 2000. (5/31/01)