Amarillo Mesquite Grill, Inc. Reports First-Quarter Earnings.Business Editors WICHITA, Kan.--(BUSINESS WIRE)--June 1, 2000 Amarillo Mesquite Mesquite, city, United States Mesquite (məskēt`), city (1990 pop. 101,484), Dallas co., N Tex., a suburb of Dallas; inc. 1887. Manufacturing includes industrial power supplies, building materials, and medical equipment. Grill, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :MESQ) today announced that sales for the first quarter ended April 30, 2000, increased 22% to $5,629,353 as compared to $4,630,842 for the first quarter of the prior year. Net earnings for the first quarter ended April 30, 2000, were $104,841, or one cent per common share, as compared to $121,342, or two cents per common share, for the first quarter of the prior year. The company operated fourteen Amarillo Mesquite Grills as of April 30, 2000, as compared to twelve Amarillo Mesquite Grills as of May 2, 1999. Chris F. Hotze, President, said: "During the first quarter, we initiated various promotions to increase traffic and reverse negative same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of trends. These programs were successful in reaching those objectives, as we experienced an increase in both customer counts and same store sales. Unfortunately, these aggressive price point promotions also negatively impacted our margins by increasing our promotional costs and consequently affecting our bottom line earnings. "Currently we are modifying these programs in such a manner that will diminish the impact on margins but still retain a large portion of the sales gains. Our goal is to realize incremental sales increases that should more than offset the increased promotional costs and ultimately result in increased net earnings. "We will continue our efforts toward increased earnings and toward finding major additional funding for new unit development. In the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile , the Company has signed a lease for a new restaurant in Wichita Falls, Texas Wichita Falls is a city in Wichita County, Texas, United States. As of the 2000 census, the city had a total population of 104,197. It is the principal city of the Wichita Falls Metropolitan Statistical Area, which encompasses all of Archer, Clay and Wichita counties. , which should open during July. This unit will be financed out of cash flow." The Company currently operates fourteen Amarillo Mesquite Grills in Kansas, Oklahoma Kansas is a town in Delaware County, Oklahoma, United States. The population was 685 at the 2000 census. Geography Kansas is located at (36.202423, -94.795122)GR1. , Missouri and Arkansas. |
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