USA: Schlotzsky's, Inc. reports significant increase in earnings for third quarter 2001
Schlotzsky's, Inc. (Nasdaq:BUNZ) today announced results for the third quarter ended September 30, 2001, including net income of $659,000, or $0.09 per share (diluted), a 358% increase over net income of $144,000, or $0.02 per share in the third quarter of last year. Revenues for the current quarter were $15.5 million, an increase of 2.5% over the third quarter of 2000. General and administrative (G&A) expenses for the quarter, including severance costs related to a reduction in force, decreased 14.4 % to $4.9 million compared to $5.7 million for the third quarter of 2000.
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