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Ashford Inc (AINC) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Ashford Inc.

HISTORY TOOLS
CIK: 1604738 Ticker: AINC


EXHIBIT 99.1
 
NEWS RELEASE

 
Contact:  
  
Deric Eubanks
  
Elise Chittick
  
Scott Eckstein
 
  
Chief Financial Officer
  
Investor Relations
  
Financial Relations Board
 
  
(972) 490-9600
  
(972) 778-9487
  
(212) 827-3766

ASHFORD REPORTS FOURTH QUARTER AND YEAR END 2014 RESULTS
Completes Spin-Off from Ashford Trust
Begins Trading as an Independent Public Company

DALLAS, February 26, 2015 -- Ashford (NYSE MKT: AINC) (the “Company”) today reported the following results and performance measures for the fourth quarter ended December 31, 2014. On November 12, 2014, the Company completed its spin-off from Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust”), but the Company has presented its prior year financial statements in accordance with GAAP, which requires that historical carve-out financial statements be presented. Accordingly, the Company's results for the quarter and year ended December 31, 2014 may not be representative of results in future periods. Unless otherwise stated, all reported results compare the fourth quarter ended December 31, 2014, with the fourth quarter ended December 31, 2013 (see discussion below).

FINANCIAL AND OPERATING HIGHLIGHTS
•
On November 12, 2014, the Company completed its spin-off from Ashford Trust
•
Total revenue for the fourth quarter of 2014 totaled $8.0 million
•
Net loss attributable to common stockholders for the Company was $15.5 million, or $8.01 per diluted share
•
Adjusted EBITDA for the fourth quarter was a loss $1.1 million
•
Adjusted Net Loss for the fourth quarter was $1.8 million, or $0.95 per diluted share
•
At the end of the fourth quarter 2014, the Company had over $5.0 billion of assets under management
•
As of December 31, 2014, Ashford had cash and cash equivalents of $29.6 million
•
In January, Ashford Trust announced the formation of Ashford Hospitality Select (“Ashford Select”), a new privately-held company dedicated to investing in select-service hotels, that will be advised by Ashford

FINANCIAL RESULTS
For the fourth quarter ended December 31, 2014, advisory services revenue totaled $7.8 million, including $4.5 million from Ashford Trust and $3.3 million from Ashford Hospitality Prime (NYSE: AHP) (“Ashford Prime”). No incentive management fees were recognized during the three months ended December 31, 2014 in connection with the advisory agreements with Ashford Trust and Ashford Prime.

Net loss attributable to common stockholders for the fourth quarter of 2014 totaled $15.5 million, or $8.01 per diluted share, compared with a loss of $13.9 million, or $7.18 per diluted share for the fourth quarter of 2013.

Adjusted EBITDA for the fourth quarter of 2014 was a loss of $1.1 million, compared with a loss of $9.6 million for the fourth quarter of 2013.



The following information was filed by Ashford Inc. (AINC) on Thursday, February 26, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
Ticker: AINC
CIK: 1604738
Form Type: 10-K Annual Report
Accession Number: 0001604738-15-000020
Submitted to the SEC: Tue Mar 24 2015 4:23:38 PM EST
Accepted by the SEC: Tue Mar 24 2015
Period: Wednesday, December 31, 2014
Industry: Management Consulting Services

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