Income Up, Same-Store Sales Down at NPC International

NPC International, Inc. (the "Company"), today reported results for its fourth fiscal quarter and fiscal year ended December 29, 2009.


FOURTH QUARTER HIGHLIGHTS:
* The fourth quarter of 2009 was comprised of 13 weeks while 2008 contained 14 weeks.
* Non-GAAP Adjusted EBITDA ("Adjusted EBITDA") from continuing operations (reconciliation attached) of $19.0MM was below the prior year by $4.2MM or 17.9%.
* Loss from continuing operations of $0.3MM compared to income of $3.2MM recorded last year.
* Debt remained equal to the third quarter at $433.7MM while cash increased by $4.2MM to $14.7MM.
* Comparable store sales from continuing operations declined -10.5% rolling over a decrease of -3.4% last year.

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Mexican Restaurants, Inc. Announces Fiscal Year-End Results

HOUSTON--(BUSINESS WIRE)--For the fiscal year ended January 3, 2010, Mexican Restaurants (NASDAQ: CASA - News) reported a net loss of $848,699 or ($0.26) per diluted share. This compared with a net loss of $3,987,011 or ($1.22) per diluted share for fiscal year 2008. For the fourth quarter ended January 3, 2010, the Company reported a net loss of $588,001 or ($0.18) per diluted share, compared with a net loss of $3,917,026 or ($1.20) per diluted share for the same quarter in fiscal year 2008. During the fourth quarter ended January 3, 2010, the Company recorded $190,000 of severance expense as part of staff reductions. During the 2008 fourth quarter, the Company recorded a goodwill impairment of approximately $5.1 million, and a resulting approximate $1.3 million tax benefit.


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Punch Taverns chief Giles Thorley quits

Giles Thorley, chief executive of Punch Taverns, Britain's biggest pub group, today said he was quitting after nine years at the helm. The company said it was "well advanced with the process of appointing a successor" and that Mr Thorley would stay on until his successor is appointed. Although external candidates are being considered, Punch has two strong internal candidates who have helped Mr Thorley put the group on a more even keel.

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RDG Captial raises Benihana bid to $8/shr

New York investment manager Russell Glass is so eager for a taste of Japanese steakhouse Benihana that he's turning up the heat on his unsolicited bid for the struggling restaurant chain to $8 a share from $7, The Post has learned.


Glass, a former executive with Icahn Associates who's now head of New York investment firm RDG Capital, made his sweetened sales pitch yesterday to Benihana CEO Richard Stockinger, Chairman Darwin Dornbush and independent director Ronald Castell, according to a person familiar with the matter.

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In Asia Pacific, Downturn Looks More Like A Speed Bump

ASIA PACIFIC — The Asia Pacific hotel market has felt the impact of the downturn, but thanks to massive emerging economies that refuse to be stopped and localized financing practices that have kept pipelines healthy, the East continues to be where the action is. The region is at the head of the global recovery, with Jones Lang LaSalle Hotels reporting evidence of markets hitting bottom late last year. Promisingly, the financial sector is showing signs of increased demand, particularly in the economic hubs of Hong Kong and Singapore, JLLH says, and net absorption rose 20% across the region in the fourth quarter, although it will likely remain below pre-recession levels through 2010.


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