Texan ups McCormick & Schmick's stake

Texas restaurant magnate Tilman J. Fertitta took a break from his recent restaurant-buying spree to add 150,248 shares of Portland-based McCormick & Schmick’s Seafood Restaurants Inc. to his stock portfolio.

The latest move bolsters speculation the colorful Fertitta may be interested in acquiring the 96-unit chain for his Landry’s Restaurants Inc., which is based in Houston.

 

Read More:

McCormick & Schmick's Seafood Restaurants, Inc. Reports First Quarter 2010 Financial Results

Financial results for the first quarter 2010 compared to the first quarter 2009:


- Revenues decreased 7.7% to $84.8 million from $91.9 million

- Comparable restaurant sales decreased 9.6%

- Comparable restaurant traffic decreased 6.2%

- Total restaurant operating costs were 89.3% of revenues compared to 89.2%

- Net loss of $0.4 million, or $0.03 per basic and diluted share, compared to net loss of $1.1 million, or $0.08 per basic and diluted share

Read More:

McCormick & Schmick's Seafood Restaurants, Inc. Reports Fourth Quarter and Fiscal Year 2009 Financial Results

•Revenues decreased 9.7% to $89.2 million from $98.8 million
•Comparable restaurant sales decreased 12.9%
•Comparable restaurant traffic decreased 7.0%
•Total restaurant operating costs were 86.1% of revenues compared to 86.7%
•In the fourth quarter of 2009, a significant non-cash item in operating loss included an impairment of $19.8 million related to long lived assets that included eight of our restaurants. In the fourth quarter of 2008, significant non-cash items in operating loss included a $54.4 million charge related to the impairment of trademarks and tradenames, a $26.2 million charge related to the impairment of goodwill, a $2.8 million charge related to the impairment of long lived assets of two restaurants, and a $0.4 million write-off of a portion of previously capitalized transaction costs related to the Company's credit agreement
•Net loss of $16.1 million, or $1.09 per basic and diluted share, compared to net loss of $73.4 million, or $4.99 per basic and diluted share
•Pro forma net income of $2.8 million, or $0.19 per diluted share (see attached reconciliation to GAAP), compared to a pro forma net income of $2.4 million, or $0.16 per diluted share

Read more:

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

Financial results for the third quarter 2009 compared to the third quarter 2008:

•Revenues decreased 13.6% to $86.3 million from $99.9 million
•Comparable restaurant sales decreased 18.8%
•Comparable restaurant traffic decreased 14.2%
•Total operating expenses were 87.1% of revenues compared to 87.5% last year
•Net income of $1.3 million, or $0.09 per diluted share, compared to net income of $1.4 million, or $0.09 per diluted share

Read more:

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

Revenues for the second quarter of 2009 decreased 7.0% to $92.7 million from $99.7 million in the second quarter of 2008. The decrease in revenues is primarily attributable to the decline in comparable restaurant sales, partially offset by revenue from new restaurants not in the comparable restaurant base. The decrease in comparable restaurant sales of 17.3% was a result of a 16.7% decrease in traffic, which was coupled with a decrease in net pricing of 0.6%.

Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=179739&p=irol-newsArticle&ID=1317324&highlight=

McCormick & Schmick's seeks CFO

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

Supplemental Information
http://ccbn.10kwizard.com/xml/download.php?repo=tenk&ipage=6308054&format=XLS

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)