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McCormick & Schmick's Seafood Restaurants, Inc. Reports Third Quarter 2009 Financial Results.

Publication: Business Wire
Publication Date: 04-NOV-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: McCormick & Schmick's Seafood Restaurants, Inc. Reports Third Quarter 2009 Financial Results.(Financial report)

Article Excerpt
Reaffirms 2009 Earnings Guidance of $0.25 to $0.30 Per Fully Diluted Share

PORTLAND, Ore. -- McCormick & Schmick's Seafood Restaurants, Inc. (Nasdaq: MSSR) today reported financial results for its third quarter ended September 26, 2009.

Financial results for the third quarter 2009 compared to the third quarter 2008:

* Revenues decreased 13.6% to $86.3 million from $99.9 million

* Comparable restaurant sales decreased 18.8%

* Comparable restaurant traffic decreased 14.2%

* Total operating expenses were 87.1% of revenues compared to 87.5% last year

* Net income of $1.3 million, or $0.09 per diluted share, compared to net income of $1.4 million, or $0.09 per diluted share

Revenues for the third quarter of 2009 decreased 13.6% to $86.3 million from $99.9 million in the third quarter of 2008. The decrease in revenues is primarily attributable to the decline in comparable restaurant sales, partially offset...

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