LAKEWOOD, Colo.--(BUSINESS WIRE)--Aug. 6, 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 second quarter ended June 30, 2009.
Selected Highlights for the Second Quarter 2009:
- Substantial improvement in company-owned restaurant operating margins of 19.2% drove overall corporate margins back to 20.0% in the second quarter
- Total revenues declined a modest $1.0 million to $104.4 million vs. $105.4 million in the second quarter of 2008
- System-wide comparable store sales decreased 2.2%, a 150 basis point improvement over the first quarter trend
- Net income and diluted EPS of $6.5 million and $0.39, respectively, vs. net income and diluted EPS of $6.9 million and $0.42 in the second quarter of 2008
- Redeemed $20 million in Series Z Preferred Stock on June 30, 2009
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