Cucos Announces a Profit for its Fourth Quarter.NEW ORLEANS--(BUSINESS WIRE)--Aug. 27, 1999-- Cucos Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CUCO) announced today that on a preliminary and unaudited basis for the Fourth Quarter ending June 28, 1999, it earned a profit of approximately $50,000, or $.02 per share. This compares to a loss in the comparable prior year period of approximately $700,000, comprised of $400,000 in one-time charges and $300,000 in operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. . Operating losses in the First Three Quarters of Fiscal 1999 were approximately $1,220,000 and non-cash asset write-downs were approximately $2,150,000 associated primarily with its Alabama Alabama, indigenous people of North America Alabama (ăləbăm`ə), indigenous people of North America whose language belongs to the Muskogean branch of the Hokan-Siouan linguistic stock (see Native American languages). restaurants. This brings the total loss for the full Fiscal Year to approximately $3,325,000. "Operating losses moderated significantly in the Third Quarter and the Company turned profitable in the Fourth Quarter, ending the year on a positive note," commented Vincent J. Liuzza, Jr., President. "The improvements in staffing and product in our restaurants, the cost of which exacerbated the losses in the First and Second Quarters, are the primary reasons for the financial turn-around experienced in the Third and Fourth Quarters," added Liuzza. Cucos is a full service Mexican Mexican named after or originating in Mexico. Mexican axolotl see ambystomamexicanum. Mexican beaded lizard (Heloderma horridum restaurant chain consisting of thirteen company-owned restaurants and five franchised restaurants located primarily in the Southeastern 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. . |
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