USA: Worldwide Restaurant Concepts sees Q1 2003 revenues up 10.5%
Sherman Oaks, California-based Worldwide Restaurant Concepts, formerly known as Sizzler International, has posted revenues of US$67.7m for its Q1 2003, ended 21 July, up 10.5% on the US$61.3m in the comparable period in FY 2002. Net income for the Q1 was US$3.3m (US$0.12 per diluted share) compared to net income of US$1.7m (US$0.06 per diluted share) in the same period a year ago. The increase in net income for the quarter was primarily the result of increased sales, tight cost controls, and a tax benefit from the utilisation of tax loss carry forwards.
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