Cucos announces third quarter earnings.NEW ORLEANS--(BUSINESS WIRE)--May 16, 1997--Cucos, 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 :CUCO The Cuco (Coco, coca, or cuca) is a mythical monster, a ghost, witch; equivalent to the boogeyman found in many Hispanic and Lusophone countries. Origin The myth of the Coco originated in Portugal and Galicia. ), announced today that in the third quarter of fiscal 1997, which ended April 6, 1997, the Company earned a profit of $46,348 ($.02 per share). This compares to a profit of $3,838 in the third quarter of fiscal 1996. For the first three quarters of fiscal 1997, the Company lost $46,215 ($.02 per share) compared to a profit of $12,902 for the comparable period of fiscal 1996. Sales per comparable restaurant were up approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 2% verses the same period last year. Also, during the quarter, a new franchised restaurant opened in Des Moines, Iowa “Des Moines” redirects here. For other uses, see Des Moines (disambiguation). Des Moines (pronounced /dɪˈmɔɪn/ in English, . As an additional cost control measure, the position of Vice President-Finance was eliminated. Those duties have been assumed by the Chairman. Cucos currently operates fifteen company-owned and franchises seven full-service full-ser·vice adj. Associated with or offering complete service: full-service gasoline pumps; full-service banks. Mexican Mexican named after or originating in Mexico. Mexican axolotl see ambystomamexicanum. Mexican beaded lizard (Heloderma horridum 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. . -0-
Cucos, Inc.
Statement of Operations
Unaudited
12 Weeks 40 Weeks
Ended Ended
4/6/97 4/7/96 4/6/97 4/7/96
REVENUES:
Sales of Food and
Beverages $ 4,854,949 $ 4,914,027 $15,954,708 $15,748,100
Franchise Fees and
Royalties 71,368 25,263 131,564 126,130
Commissary, Rent and
Other Income 131,355 65,681 409,686 239,769
Total revenues 5,057,672 5,004,971 16,495,958 16,113,999
Cost and Expenses:
Cost of Sales 1,303,526 1,314,562 4,364,909 4,216,325
Restaurant Labor and
Benefits 1,589,641 1,653,454 5,254,331 5,234,472
Other Operating
Expenses 684,707 686,391 2,436,388 2,480,159
Occupancy Costs 505,963 495,263 1,684,568 1,614,784
Preopening Costs 28,955 0 96,519 0
Total Restaurant
Expenses 4,112,792 4,149,670 13,836,715 13,545,740
Operations and
Franchise Expenses 438,849 417,866 1,232,719 1,136,194
Corporate Expenses 363,223 341,070 1,142,937 1,107,145
Interest Expense 96,460 92,527 329,802 312,018
Income (Loss) Before
Income Taxes 46,348 3,838 (46,215) 12,902
Income Taxes 0 0 0 0
Net Income (Loss) 46,348 3,838 (46,215) 12,902
Weighted Shares
Outstanding 2,641,730 2,641,730 2,641,730 2,641,730
Income (Loss) Per
Share $0.02 $.00 ($0.02) $.00
CONTACT: Cucos Inc., New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded Vincent J. Liuzza, Jr., 504/835-0306 |
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