Northampton Group Inc. posts loss in Q4; revenue up 5.1 percent

Nathan Andrada – Fourth Estate Cooperative Contributor

Toronto, Canada (4E) – Northampton Group Inc. said Saturday that it recorded a $280.80 thousand net loss, or a $0.011 a share, in the fourth quarter, from a $40.21 thousand loss, or $0.002 a share, in the year-ago period.

The integrated Canadian hotelier reported revenues in the fourth quarter jumped 5.1 percent to $6.38mn, compared to $6.07mn in the same period in fiscal 2013.

The company’s EBITDA or earnings before income taxes, interest, depreciation, and amortization fell 18 percent to $664.47 thousand, compared to the previous year’s $809.95 thousand.

Same-hotel sales increased in most of Northampton’s portfolio, the company said.

Northampton Group President and CEO Vinod Patel said the company is pleased with the top line in both the 12-month period and the typically weaker fourth quarter.

Steady performance is also expected in the coming year based on experience and the positive outlook by industry experts, Mr. Patel added.

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