McCormick & Schmick's Seafood Restaurants, Inc. Reports First Quarter 2009 Financial Results

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PORTLAND, Ore., May 06, 2009 (BUSINESS WIRE) -- McCormick & Schmick's Seafood Restaurants, Inc. (Nasdaq: MSSR) today reported financial results for its first quarter ended March 28, 2009.
Financial results for the first quarter 2009 compared to the first quarter 2008:
Revenues decreased 0.5% to $91.9 million from $92.3 million
Comparable restaurant sales decreased 13.9%
Incurred a net loss of $1.1 million, or $(0.08) per diluted share, compared to net income of $0.1 million, or $0.01 per diluted share
Incurred a pro forma net loss of $0.7 million, or $(0.05) per diluted share, due to a restructuring charge and the normalization of the effective tax rate (see attached reconciliation to GAAP)