Benihana reports record second quarter/half year gains; net income rises 87% for quarter, 84% for year to date.MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. , Fla.--(BUSINESS WIRE)--Benihana 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 , NM:BNHN, BNHNA), today reported record results for the three periods and seven periods ended Oct. 8, 1995. The company's fiscal year consists of 13 four-week accounting periods. The company's common stock entitles the holder to one vote per share, and the Class A stock gives the holder one-tenth vote per share. However, each share of the two classes participates equally in the equity of the company. For the three periods ended Oct. 8, 1995, net income surged 90 percent to $689,000 or 11 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. from $363,000 or five cents per share for the same period last year. Revenues rose seven percent to $17,699,000 from $16,494,000, for the comparable three periods of fiscal 1995. Net income for the seven periods increased 85 percent to $1,800,000 or 29 cents per share from $972,000 or 14 cents per share for prior year's period. Revenues were up eight percent to $41,370,000 from $38,318,000 for the fiscal 1995 period. Average unit sales unit sales Sales measured in terms of physical units rather than dollars. Unit sales data are often used by financial analysts when evaluating the health of a company. for the three periods grew to $478,000 from $446,000, a seven percent gain, and rose to $1,111,000 from $1,029,000 for the seven periods, an eight percent increase. "The continuing rise in popularity of the Benihana dining concept is testimony to the value of our unique food and presentation, still exciting after 31 years, and the effectiveness of our marketing programs as well as certain restaurants adding luncheon service on weekends, sushi bars Noun 1. sushi bar - a bar where sushi is served bar - a counter where you can obtain food or drink; "he bought a hot dog and a coke at the bar" and Karaoke karaoke (Japanese; “empty orchestra”) Use of a device that plays instrumental accompaniments to songs with the vocal tracks removed, permitting the user to sing the lead. entertainment centers," Joel A. Schwartz, president, said. The company also announced that the first Benihana Grill Grill may refer to: In food:
Benihana owns or licenses 45 teppanyaki-style restaurants in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . -0- Benihana Inc. Financial Highlights (Unaudited)
For the Three Periods Ended For the seven Periods Ended
10/8/95 10/9/94 10/8/95 10/9/94
Revenues $17,699,000 $16,494,000 $41,370,000 $38,318,000 Gross profit 13,038,000 11,760,000 30,263,000 27,318,000 Income before income taxes 887,000 391,000 2,389,000 1,047,000 Net Income 689,000 363,000 1,800,000 972,000 Earnings per share $.11 $.05 $.29 $.14 Average shares and equivalent shares outstanding 5,982,727 5,809,116 5,982,727 5,809,116 -0- CONTACT: Benihana Inc. Joel Schwartz & Michael Burris, 305/593-0770 or Porter, LeVay & Rose Inc. Hal LeVay, 212/564-4700 |
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