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| Free Hospitality Publications |
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Restaurant Industry News
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Tuesday October 24th, 2006 |
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Ruby Tuesday 1Q Earnings Flat on Costs
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Ruby Tuesday Posts Flat 1Q Earnings As Higher Sales Fail to Offset Increased Costs |
Casual dining chain operator Ruby Tuesday Inc. on Wednesday reported first-quarter earnings about flat with year-ago results as a 10 percent jump in sales failed to offset rising costs.
Shares closed earlier down 25 cents at $28.89 on the NYSE, and dipped 79 cents, or 2.7 percent, to $28.10 in aftermarket trading on the INET electronic exchange.
Quarterly net income totaled $21.55 million, or 37 cents per share, down slightly from $21.64 million, or 34 cents per share, in the year-ago period. During fiscal 2007's first quarter, the company adopted a "share-based payment" plan, which reduced earnings per share by 2 cents in the quarter, according to Ruby Tuesday.
External Source - For the complete article click here
Source - AP
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