Bertucci's announces financial results for the third quarter of fiscal year 1995.WAKEFIELD Wakefield, estate, United States Wakefield, family estate of George Washington, on the Potomac River, E Va.; part of the George Washington Birthplace National Monument (see National Parks and Monuments, table). , Mass.--(BUSINESS WIRE)--Oct. 30, 1995-- Bertucci's, 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 : BERT (Bit Error Rate Test) An analysis of network transmission efficiency that computes the percentage of bits received in error from the total number sent. ) today announced financial results for the third quarter of fiscal year 1995. The company reported net revenues of $28.2 million for the twelve-week third quarter ended Oct. 7, 1995, a gain of 14.7 percent over net revenues of $24.6 million for the twelve-week third quarter of the previous year. Comparable restaurant sales for the twelve-week period decreased 3.1 percent. Net income for the twelve-week period was $610,000 compared with $1.5 million a year earlier. Earnings per share in the third quarter were $0.07 compared with $0.17 in the prior year. For the forty-week period comparison net revenues have increased 23.6 percent, while net income has decreased from $4.3 million to $2.0 million over last year's same period. The increase in revenues has come from new restaurants, while comparative store sales for the forty-week period declined 2.5 percent. The company operates a chain of seventy-four full service restaurants under the "Bertucci's Brick Oven  It has been suggested that , , , , and be merged into this article or section. Pizzeria" name in the
Eastern 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. , and Chicago metropolitan area “Chicagoland” redirects here. For for the racing venue, see Chicagoland Speedway.The Chicago metropolitan area is the metropolitan area associated with the city of Chicago in the United States. . During the third quarter the company opened one new restaurant in the Atlanta Atlanta (ətlăn`tə, ăt–), city (1990 pop. 394,017), state capital and seat of Fulton co., NW Ga., on the Chattahoochee R. and Peachtree Creek, near the Appalachian foothills; inc. 1847. , Ga., market. Currently the Company has two additional restaurants under construction. -0-
Bertucci's Inc.
Condensed Statements of Income
12 Weeks Ended 40 Weeks Ended
Oct. 7, Oct. 1, Oct. 7, Oct. 1,
1995 1994 1995 1994
(In thousands except per share data)
Sales $ 28,211 $ 24,596 $ 92,178 $ 74,583 Net Income 610 1,482 2,038 4,251 Earnings Per Share $0.07 $0.17 $0.23 $0.48 Weighted Average Shares 8,848,273 8,910,020 8,877,257 8,933,142 -0-
Bertucci's Inc.
Consolidated Condensed Statements of Income
(Unaudited)
12 Weeks Ended 40 Weeks Ended
Oct. 7, Oct. 1, Oct. 7, Oct. 1,
1995 1994 1995 1994
(in thousands, except per share data)
NET SALES $ 28,211 $ 24,596 $ 92,178 $ 74,583 COSTS AND EXPENSES: Cost of sales 7,240 6,147 23,569 18,841 Operating expenses 14,351 11,695 46,057 35,153 General and administrative expenses 1,673 1,477 6,344 4,695 Depreciation and amortization 2,173 1,733 7,147 5,462 Taxes other than income 1,474 1,217 4,922 3,715 Total costs and expenses 26,911 22,269 88,039 67,866 Operating income 1,300 2,327 4,139 6,717 INTEREST EXPENSE 317 9 932 58 INTEREST INCOME 5 7 18 28 Income before income tax expense 988 2,325 3,225 6,687 INCOME TAX EXPENSE 378 843 1,188 2,436 NET INCOME $ 610 $ 1,482 $ 2,037 $ 4,251 EARNINGS PER SHARE $ 0.07 $ 0.17 $ 0.23 $ 0.48 WEIGHTED AVERAGE SHARES OUTSTANDING 8,848,273 8,910,020 8,877,257 8,933,142-0- CONTACT: Bertucci's Inc. Norman Norman, city (1990 pop. 80,071), seat of Cleveland co., central Okla.; inc. 1891. It is the center of a livestock region. Oil wells, food processing, and printing and publishing contribute to the economy, and there is diverse manufacturing (machinery, communication Mallett, 617/246-6700 |
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