Choice Hotels exceeds earnings and growth expectations in third quarter

Choice Hotels International, Inc., (CHH) reported net income for the third quarter of $44.4 million or $0.76 per share, compared to $42.3 million or $0.71 per share for the year-ago quarter. Total revenue for the third quarter rose to $210.41 million from $192.32 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.63 per share on revenue of $202.73 million for the third quarter. Looking forward, the company forecast fourth quarter earnings to be at least $0.40 per share. The company raised its full year 2012 earnings outlook to a range of $2.05 to $2.07 per share from its prior outlook of $1.91 to $1.94 per share. Analysts currently expect the company to earn $0.42 per share for the fourth quarter and $1.94 per share for the full year 2012.

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