Total revenues were flat compared to prior year at $94.7 million.
Net income available to common shareholders of $6.0 million, or $0.19 per diluted share, compared to $3.7 million, or $0.16 per diluted share, in the first quarter of 2009. Net income available to common shareholders for the first quarter of 2010 included a $0.7 million income tax benefit for a correction of an immaterial error related to certain prior year tax credits. Excluding this adjustment, net income available to common shareholders in the quarter was $0.17 per diluted share.
Company-owned comparable restaurant sales for Ruth's Chris Steak House decreased 0.5%. Company-owned comparable restaurant sales for Mitchell's Fish Market increased 2.4%.
Food and beverage costs, as a percentage of restaurant sales, decreased 80 basis points to 29.3%, which was primarily driven by favorable beef costs.
Read More:
0 comments:
Post a Comment