Einstein Noah Restaurant Group Reports First Quarter 2009 Financial Results

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LAKEWOOD, Colo.--(BUSINESS WIRE)--May. 7, 2009-- Einstein Noah Restaurant Group (NASDAQ: BAGL), a leader in the quick-casual segment of the restaurant industry operating under the Einstein Bros.® Bagels, Noah's New York Bagels®, and Manhattan Bagel® brands, today reported financial results for the first quarter ended March 31, 2009.
Selected Highlights for the First Quarter 2009 Compared to the First Quarter 2008:
Total revenue of $100.4 million vs. $103.3 million
System-wide comparable store sales decreased 3.7%
Net income and diluted EPS of $1.9 million and $0.11, respectively, versus net income and diluted EPS of $3.8 million and $0.23
First Lien Term Loan repayment of $7.6 million
Unrestricted cash balance of $21.4 million
Positive momentum with Franchise and License development