307 Documents

307 Documents - November 4, 2003 CALIFORNIA Rubio's...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
November 4, 2003 CALIFORNIA Rubio's 3rd-Quarter Profit Tumbles 36%   CALIFORNIA RUBIO S RESTAURANTS INC    GO   By Karen Robinson-Jacobs, Times Staff Writer Heavy discounts helped boost traffic at Rubio's Restaurants Inc. but not enough to overcome rising food costs, as the Mexican fast-food chain's third-quarter profit dropped 36%, t he company reported Monday. The Carlsbad, Calif.-based operator of 145 Rubio's Fresh Mexican Grill restaurants, known for their seafood, earned $836,000, or 9 cents a share, compared with $1.3 million, or 14 cents, a year earlier. Rubio's also said it expected to post a net loss of 25 cents to 30 cents a share for the full year. In the second quarter, the company had a net loss of $3.1 million as it wrote off some underperforming restaurants. Revenue for the quarter ended Sept. 28 rose 6% to $32.7 million. Sales at restaurants open at least 15 months gained 2.6% over the year-earlier period, marking the eighth consecutive such increase, the company said. Rubio's released its results after the stock market closed. Its shares lost 6
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

307 Documents - November 4, 2003 CALIFORNIA Rubio's...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online