Lodgian turns to profit in Q2, shares up 10%

Shares of Lodgian Inc. (AMEX:LGN) are up 10% today after the Atlanta-based hotel company reported ahead of the opening it had turned to profit in the second quarter. For the period ending June 30, net income was $6.4 million, or $0.29 per share, compared to a net loss of $0.26 million, or $0.01 per share, for the same period a year earlier. Revenues modestly rose to $66.9 million, up from $66.7 million a year earlier. Analysts had been expecting earnings per share of $0.12 on revenues of $62.04 million.

At 2:37 p.m. ET, shares are at $7.75, up $0.71 from Monday’s close. Shares have ranged from $6.63 to $13.83 during the past year.

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