USA: Mexican Restaurants sees Q2 income up despite sales drop
Houston-based Mexican Restaurants Inc. has posted net income of US$593,995 (US$0.17/share) for its Q2 ended 30 June, up from US$382,235 (US$0.11/share) year on year. For the H1 ended 30 June, net income was US$1.09m (US$0.31/share) compared to US$766,878 (US$0.22/share) year on year. Yearly comparisons are affected however by the company's recent adoption of the SFAS 142 "Goodwill and Other Intangible Assets". Adjusted Q2 net income is therefore US$435,774 (US$0.12/share) and H1 net income is US$873,955 (US$0.24/share).
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