BACK YARD BURGERS REPORTS LATEST RESULTS FOR ANNUAL MEETING.MEMPHIS Memphis, city, ancient Egypt Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn.--(BUSINESS WIRE)--May 16, 1996--As a prelude prelude (prā`l  d), musical composition of no universal style, usually for the keyboard. It was originally used to precede a ceremony and later a second, often larger piece. to its Annual Meeting of Stockholders to be held later today, Back Yard Burgers, Inc. (Nasdaq Small Cap:BYBI BYBI Backyard Burgers, Inc. ; CHX See Chicago Stock Exchange. CHX See Chicago Stock Exchange (CHX). :BYB BYB The ISO 4217 currency code for Belarus Rouble. ) announced results for the four-week period ended April 27, 1996. Total revenues for the four weeks ended April 27, 1996, rose 7.9% to $1,870,000 from $1,733,000 in the year-earlier period, reflecting primarily the addition of two new Company-operated stores and the acquisition of two franchised units since May 1, 1995. The Company reported earnings for the month of $60,000, or $.01 per share, compared with a net loss of $10,000, or $.00 per share, in the same period last year. For the seventeen weeks ended April 27, 1996, total revenues rose 4.1% to $7,129,000 compared with $6,850,000 for the prior-year period. The Company reported a loss of $30,000, or $.01 per share, for the year-to-date period compared with a loss of $21,000, or $.00 per share, in the year-earlier period. Commenting on the results, Lattimore M. Michael, Chairman and Chief Executive Officer, stated, "April was a good month for the Company. We believe we are headed in a positive direction. We are encouraged by the improvement in earnings, which was primarily the result of improvements in operating procedures together with a decrease in food costs. We believe our marketing strategy implemented in the first quarter has begun to produce positive results. Same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. for April, for both Company-operated stores and franchised stores, were the best generated by the Company since January 1995." Joseph L. Weiss, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , added, "We are fortunate to have people throughout our organization who are dedicated to the success of our system. Their focus on improving restaurant operations, marketing, purchasing and cost controls has begun to restore sales to acceptable levels. We would like to thank our franchisees, customers, stockholders and suppliers for their continued support and commitment to our Company." As of April 27, 1996, the Company's restaurant system comprised 70 units, including 32 Company-operated stores and 38 franchised stores. Back Yard Burgers operates and franchises quick-service restaurants in Memphis, Little Rock, Nashville and other markets across 15 states. The Company features gourmet hamburgers and chicken sandwiches Noun 1. chicken sandwich - a sandwich made with a filling of sliced chicken sandwich - two (or more) slices of bread with a filling between them , name-brand condiments and beverages as well as hand-dipped milkshakes, fresh-squeezed lemonade and fresh-baked cobblers. CONTACT: Back Yard Burgers, Inc., Memphis Stephen J. King, 901/367-0888 |
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