Back Bay Restaurant Group reports third quarter 1995 financial results.BOSTON--(BUSINESS WIRE)--Oct. 26, 1995-- Back Bay Restaurant Group Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PAPA) announced today its operating results for the thirteen and thirty-nine weeks ended Sept. 24, 1995. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight in the thirteen week period increased 4.3 percent to $22,574,000 from $21,652,000 in the third quarter of 1994. Net income was $29,000 in the quarter compared with $284,000 in last year's third quarter. Net income per share in the quarter was $.01 versus $.08 last year. 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 decreased 4.4 percent in the thirteen week period ended Sept. 24, 1995. Net sales in this year's thirty-nine week period increased 8.7 percent to $67,587,000 from $62,151,000 in the same period for 1994. Net loss in the thirty-nine week period was $325,000 vs. net income of $1,079,000 last year. Net loss per share in the period was $.09 vs. net income of $.30 last year. Same store sales decreased 3.3 percent in the thirty-nine week period ended Sept. 24, 1995. Back Bay Restaurant Group Inc. owns and operates 36 full-service full-ser·vice adj. Associated with or offering complete service: full-service gasoline pumps; full-service banks. restaurants located in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey and the Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. , D.C. metropolitan area. Seventeen feature Northern Italian cuisine Italian cuisine as a national cuisine known today has evolved from centuries of social and political change. Its roots can be traced back to 4th century BCE and into the Middle Ages which brought Arab and Norman influence to certain regions along with introduction of notable chefs and are operated under the Papa Razzi trade name. Nineteen restaurants serve American-style food and are operated under several trade names, including "Joe's Joe's, known as G.I. Joe’s prior to April 1 2007, is a sporting goods and auto parts retailer dealer based in Oregon. The Wilsonville, Oregon based company has 26 stores in Oregon and Washington. The company is planning on opening two stores in Idaho in 2007. American Bar The American Bar is a drinking establishment at the Savoy Hotel in London. Opened in 1898 when cocktail were being first introduced to London. The term American Bar comes from the 1930s when cocktails were first gaining popularity in the United States. & Grill Grill may refer to: In food:
SELECTED FINANCIAL DATA
(unaudited)
(in 000s except share data)
Thirteen Weeks Ended
Sept. 24, 1995 Sept. 25, 1994
$ % of sales $ % of sales
Net sales 22,574 100.0 21,652 100.0 Cost of sales 6,296 27.9 5,933 27.4 Payroll and related costs 7,157 31.7 7,050 32.6 Operating expenses 5,397 23.9 4,633 21.4 Depreciation and amortization 1,228 5.4 1,168 5.4 Income from restaurant operations 2,496 11.1 2,868 13.2 General and administrative expenses 2,237 9.9 2,360 10.9 Operating income 259 1.2 508 2.3 Interest expense 213 0.9 27 0.1 Interest income 0 0.0 0 0.0 Income taxes 17 0.1 197 0.9 Net income 29 0.2 284 1.3 Net income per share .01 .08 Weighted average shares outstanding 3,429 3,614 Number of restaurants: Restaurants open at beginning of period 36 34 Restaurants open at end of period 36 35 -0-
SELECTED FINANCIAL DATA
(unaudited)
(in 000s except share data)
Thirty Nine Weeks Ended
Sept. 24, 1995 Sept. 25, 1994
$ % of sales $ % of sales
Net sales 67,587 100.0 62,151 100.0 Cost of sales 18,812 27.8 16,801 27.1 Payroll and related costs 22,239 32.9 20,331 32.7 Operating expenses 15,754 23.3 13,506 21.7 Depreciation and amortization 3,721 5.5 3,156 5.1 Income from restaurant operations 7,061 10.5 8,357 13.4 General and administrative expenses 7,002 10.4 6,488 10.4 Operating income 59 0.1 l,869 3.0 Interest expense 575 0.9 45 0.1 Interest income 0 0.0 (4) 0.0 Income taxes (191) (0.3) 749 1.2 Net income (loss) (325) (0.5) 1,079 1.7 Net income (loss) per share (.09) .30 Weighted average shares outstanding 3,430 3,659 Number of restaurants: Restaurants open at beginning of period 37 31 Restaurants open at end of period 36 35 CONTACT: Back Bay Restaurant Group, Boston Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. Francis P. Bissaillon, 617/425-5205 or Robert J. Ciampa, 617/425-5216 |
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