USA: Mexican Restaurants Inc. announces 1st quarter revenues and profits
Mexican Restaurants Inc. (Nasdaq:CASA) yesterday announced results for the first quarter ended April 1, 2001. The Company's revenues for the first quarter of fiscal 2001 were down 0.7% to $15.8 million over revenues of $15.9 million for the same quarter a year ago. Restaurant sales for the first quarter of 2001 were down $94,446 to $15.5 million compared with same quarter a year ago. The decline was due to a decrease in the number of restaurants. Two restaurants were closed, one was converted to a franchise-owned restaurant and one new restaurant was opened since the end of the first quarter of fiscal 2000. Total system sales at restaurants operating in both fiscal quarters (``same-stores'') increased 2.5%. Company-owned same-store sales increased 2.8%. Franchise-owned same-store sales for the quarter increased 2.1%.
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