Benihana National reports 2nd quarter gains.MIAMI--(BUSINESS WIRE)--Nov. 28, 1994--Benihana National Corporation (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 : BNHN, BNHNA), today reported results for the three periods and seven periods ended Oct. 9, 1994. The company's fiscal year consists of 13 four-week accounting periods ending on the Sunday Sunday: see Sabbath; week. nearest March 31. -0-
Benihana National Corporation
Comparative Analysis
(Unaudited)
For the Three Periods Ended
10/9/94 10/10/93
Net restaurant sales $9,466,855 $9,512,306
Restaurant costs and expenses 8,619,709 8,396,147
Loss on disposition of restaurant -- 338,867
Income before income taxes 243,495 125,086
Income tax provision 20,000 10,000
Net income 223,495 115,086
Net income per share $ .04 $ .02
Weighted average shares outstanding 5,732,111 5,732,050
For the Seven Periods Ended
10/9/94 10/10/93
Net restaurant sales $22,168,132 $21,842,705
Restaurant costs and expenses 20,046,719 19,512,536
Loss on disposition of restaurant -- 338,867
Income before income taxes 661,573 474,286
Income tax provision 53,000 38,000
Net income 608,573 436,286
Net income per share $ .11 $ .08
Weighted average shares outstanding 5,732,111 5,732,050
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"The small decline in net restaurant sales for the second
quarter reflects the closing of the Farmington, CT., restaurant.
However, same restaurant sales for the second quarter rose about two
percent and for the half-year increased four percent," Joel
Schwartz, president said.
"We are optimistic about the balance of fiscal 1995, based on a
continuing improvement in the economic climate and the steady rise
in our loyal customer base," he concluded.
Benihana National owns and operates 20 Teppanyaki-style
restaurants and licenses three additional units.
CONTACT: Benihana Benihana Can refer to:
Joel Schwartz, 305/593-0770
or
Porter, Le Vay & Rose Inc., New York
Hal Le Vay, 212/564-4700
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