USA: Famous Dave's reports record revenues and earnings
Famous Dave's of America, Inc. (Nasdaq:DAVE) yesterday reported 3rd quarter revenue of $23.1 million, representing 22% growth over the same period of last year, and net income of $4.5 million or $0.41 per share. As was previously reported, net income for the quarter includes the effect of reversing the Company's reserves against its deferred tax asset of $3.7 million. Excluding this adjustment, net income would have been $795,000, or $0.07 per share, representing the 7th consecutive quarter of earnings growth. Comparable store sales increased 2.6%, representing the 10th consecutive quarter of positive same-store sales growth. Average weekly restaurant volume during the 3rd quarter was $48,208 versus $48,713 during the 3rd quarter of last year.
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