BFX Hospitality Group, Inc. Announces First Quarter Results.FORT WORTH, Texas--(BUSINESS WIRE)--Feb. 10, 1999--Robert H. McLean McLean, city (1990 pop. 38,168), Fairfax co., N Va., a suburb of Washington, D.C. Manufacturing includes foods, satellite components, and computer and telecommunications equipment. , Chief Executive Officer of BFX BFX Bitware Fax Hospitality Group, Inc. (AMEX AMEX See: American Stock Exchange :BFX), announced today a net loss of $264,000, or $.06 per share on revenues of $3,773,000 for its first quarter ended December December: see month. 31, 1998. For the same period last year, the net loss was $363,000, or $.06 per share on revenues of $2,206,000. In making the announcement, McLean stated, "The loss per share for the first quarter was the same as in the prior year period due to our having 27% fewer shares outstanding during the current quarter. Our earnings were adversely affected by pre-opening costs related to the December 7, 1998, opening of our third Cabo unit in the Sundance Square Sundance Square is the name of an area in downtown Fort Worth, Texas. Named after the Sundance Kid in western folklore, it is a popular place for nightlife and entertainment in Fort Worth and for tourists visiting the Dallas/Fort Worth Metroplex. area of Downtown Fort Worth, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. . McLean concluded, "Our second quarter results should be significantly improved over the prior year. We have three exciting new restaurants open during the current second quarter, which were not open last year. We will not be incurring in·cur tr.v. in·curred, in·cur·ring, in·curs 1. To acquire or come into (something usually undesirable); sustain: incurred substantial losses during the stock market crash. 2. any pre-opening expenses during the second quarter. Planning is currently under way for two new Cabo units to be located in Austin, Texas. These units should be opened near the end of our current fiscal year. -0-
BFX HOSPITALITY GROUP, INC.
Earnings Summary
(In thousands, except per share amount)
Three Months Ended
December 31,
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1998 1997
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Net revenues $ 3,773 $ 2,206
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Net loss $ (264) $ (363)
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Basic and diluted earnings
per share:
Net loss $ (0.06) $ (0.06)
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