DALLAS (AP) — DALLAS (AP) — Ashford Inc. (AINC) on Tuesday reported first-quarter net income of $1.3 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Dallas-based company said it had profit of $2.59. Earnings, adjusted for non-recurring costs and stock option expense, came to $1.67 per share.

The asset management company serving the hospitality industry posted revenue of $185.1 million in the period.

Ashford shares have decreased 26% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.34, a decrease of 20% in the last 12 months.

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