BEIJING (dpa-AFX) - Home Inns & Hotels Management Inc. (HMIN) Monday reported first-quarter profit of 74.9 million yuan or 0.11 yuan per share, compared to a loss of 19.4 million yuan or 0.42 yuan per share in the same period last year. Earnings in dollars totaled $12.0 million.
Adjusted earnings for the quarter were 32.1 million yuan, or $5.2 million, or 0.67 yuan per share. On average, four analysts polled by Thomson Reuters expected the company to earn 0.59 yuan per share for the quarter. Analysts' estimates typically exclude special items.
Revenues improved 5.0 percent to 1.47 billion yuan from 1.40 billion yuan. Analysts expected revenues of 1.40 billion yuan.
Looking ahead, the company has forecast second-quarter revenues in the range of 1.69 billion yuan to 1.71 billion yuan. Analysts currently expect second-quarter revenues of 1.67 billion yuan.
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