This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Luby's Revenue Falls On Restaurant Sales

Stocks in this article: LUB

Once these most recent quarterly results are finalized, they will be run through Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit Ratings Screener.

On June 10, 2009, Luby's (LUB) reported a net loss during Q3 FY09, as it included an impairment charge for the decrease in fair value investment, partially offset by the insurance proceeds received in settlement of property and equipment destroyed by Hurricane Ike. Net loss stood at $1.05 million or $0.04 per share compared to a profit of $949, 000 or $0.03 per share in the same quarter a year ago. In addition, income from continuing operations swung to net loss of $1.00 million or $0.04 per share. The most recent consensus estimate was $0.02 per share.

The company's revenue declined 7.5% year-over-year to $69.00 million from $74.60 million, hurt by the affects of the economic crisis on customer frequency and sales. Revenue from Restaurant sales plunged 9.2% to $66.03 million from $72.75 million. Approximately $1.50 million on this was related to sales from closed operations, partially offset by new restaurant sales. On the positive side, Culinary Contract Services revenue surged 61.0% to $2.97 million from $1.84 million due to continued growth in the number of these operating facilities to 13 in the third quarter compared to 9 at the end of the same quarter of last year. Same-store sales, which consisted of 118 restaurants, decreased 8.9% as a result of a decline in the number of customers, partially offset by higher menu prices. Additionally, the quarter benefitted from the favorable timing of Lent. Post adjustments related to this item, same store sales dropped 9.4% in Q3 FY09.

Looking forward to FY09, LUB expects same store sales to continue the negative trend for the year. It also anticipates recent sales pressures in small and midsize markets to negatively impact sales further.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs