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Quoting Management: “We were pleased to report our second consecutive quarter of positive same-restaurant sales in this challenging economic environment and are intently focused on consistently and profitably growing same-restaurant sales at our Ruby Tuesday concept. However, given the uncertain and volatile consumer spending environment, as well as the level of competitive intensity we have seen in the restaurant sector over the last several months, we are projecting approximately flat same-restaurant sales for the year,” JJ Buettgen, President and CEO.
Revenue decreased 8.62% from $332.92 million in the previous quarter. Net income increased to $0 in the quarter versus a net loss of $2.6 million in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.15 to a profit $0.13. For the current year, the average estimate has moved up from a profit of $0.28 to a profit of $0.29 over the last ninety days.
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(Company fundamentals provided by Xignite Financials.)
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