Ashford Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total revenue was $48,168,000 against $13,013,000 a year ago. Operating loss was $5,036,000 against $2,136,000 a year ago. Interest income was $112,000 against $33,000 a year ago. Loss before income taxes was $5,129,000 against $2,093,000 a year ago. Net loss was $5,835,000 against $2,723,000 a year ago. Net loss attributable to the company was $5,723,000 or $2.84 diluted per share against $2,385,000 or $1.34 diluted per share a year ago. Negative EBITDA was $3,463,000 against $1,294,000 a year ago. Adjusted EBITDA was $5,373,000 against $5,053,000 a year ago. Adjusted net income was $4,604,000 or $1.71 diluted per share against $4,423,000 or $1.92 diluted per share a year ago.

The company reported impairment charges of $1,919,000 for the first quarter ended March 31, 2018.

For the year 2018, the company expects lower tax rate that will have significant positive impact on the earnings.