USA: Worldwide Restaurant Concepts posts Q3 fiscal 2002 results
Sherman Oaks, California-based Worldwide Restaurant Concepts, Inc, today [Tuesday] reported financial results for the sixteen week (Q3) and forty week periods ended 3 February 2002. The company reported revenues of US$82.4m for the Q3 of fiscal 2002, an increase of 7.1% over the US$76.9m reported in the comparable period in fiscal 2001. Net income for the quarter was US$373,000, or US$0.01/diluted share, compared with a net loss of US$1.4m, or US$0.05/diluted share in the same period a year ago. Positive same store sales comparisons at all divisions and a continued focus on cost controls more than offset the impact of continued weakness in the economy and Australian dollar exchange rate. Adjusting for the 5.3% decline in the Australian dollar, Q3 revenue would have been US$84.6m, an increase of 10% year on year.
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