Morton’s Restaurant Group, Inc. Reports Results for Third Quarter 2010

Financial results for the three month period ended October 3, 2010 compared to the three month period ended October 4, 2009

• Revenues increased 3.9% to $66.2 million from $63.7 million.
• Comparable restaurant revenues for Morton’s steakhouses increased 3.2%.
• GAAP net loss from continuing operations was $(2.1) million, or $(0.13) per diluted share, for the three month period ended October 3, 2010 compared to a net loss from continuing operations of $(3.2) million, or $(0.20) per diluted share, for the three month period ended October 4, 2009.
• The three month period ended October 4, 2009 included a charge of $0.7 million after-tax, or $0.05 per diluted share, for a mark-to-market adjustment related to the fair value of the preferred stock that was subsequently issued in February 2010 as part of the fiscal 2009 settlement of certain wage and hour claims.
• Adjusted net loss from continuing operations was $(2.1) million, or $(0.13) per diluted share, for the three month period ended October 3, 2010 compared to an adjusted net loss from continuing operations of $(2.5) million, or $(0.16) per diluted share, for the three month period ended October 4, 2009. (Refer to the reconciliation of adjusted net loss to GAAP net loss in the tables that follow.)

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