Newspaper article THE JOURNAL RECORD

Eateries Posts Loss

Newspaper article THE JOURNAL RECORD

Eateries Posts Loss

Article excerpt

OKLAHOMA CITY (JR) -- Eateries Inc. reported a net loss of $479,000, or 16 cents per share, for the third quarter.

The operator or 76 restaurants in 26 states had a net loss of $468,000, or 16 cents per share, for the third quarter of 2001.

Revenues for the quarter totaled $22 million, down 6.5 percent from $23.6 million a year earlier.

Eateries reported net income of $29,000, or 1 cent per share, for the first nine months of 2002, compared with a net loss of $1.1 million, or 37 cents per share, for the first nine months of 2001.

Revenues for the first nine months of the year totaled $71.8 million, down 1.8 percent from $73.1 million a year earlier.

"The company's earnings remained constant for the third quarter compared with prior year, despite a decrease in revenues due in part to the sale of three company stores in conjunction with two new franchise agreements," said Vincent F. Orza Jr., chairman and CEO. "Industrywide retail sales suffered in the third quarter due to the effects of current economic conditions and Eateries was not exempt from these trends. …

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