RUDY'S ANNOUNCES THIRD QUARTER RESULTS
RUDY'S ANNOUNCES THIRD QUARTER RESULTS MIAMI, July 20 /PRNewswire/ -- Rudy's Restaurant Group, Inc.
(NASDAQ: RUDY) announced a net loss of $448,900 ($.13 loss per share) on revenues of $2.5 million for the quarter ended June 7, 1992, the third quarter fiscal 1992, as compared to a net loss of $74,800 ($.02 loss per share) on revenues of $2.4 million in the third quarter fiscal 1991. The company reported 1992 year-to-date losses of $299,200 ($.09 loss per share) on revenues of $7.5 million as compared to a year-to-date loss reported in 1991 of $130,200 ($.04 loss per share) on revenues of $7.3 million.
The third quarter 1992 results include a non-recurring loss provision of $482,300 related to the closing of a Samurai restaurant which had been showing continuing losses, as well as a loss provision for a non-recurring charge of $85,000 related to the settlement of certain litigation related to two of the Rudy's Sirloin SteakBruger restaurants sold in January 1991. This litigation was settled in June 1992. The company was also advised by NASDAQ that the company does not meet certain minimum standards for listing on the NASDAQ Small Cap Exchange and will therefore no longer be listed on that exchange. Rudy's Restaurant Group currently operates six Samurai Japanese Steak & Seafood restaurants. -0- 7/20/92 /CONTACT: Douglas M. Rudolph, president of Rudy's Restaurant Group, 305-576-8000/ (RUDY) CO: Rudy's Restaurant Group, Inc. ST: Florida IN: LEI SU: ERN
JB-SS -- FL013 -- 0915 07/20/92 16:37 EDT
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|Date:||Jul 20, 1992|
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