This Day On The Street
Continue to site
ADVERTISEMENT
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

J. Alexander’s Corporation Reports Results For Second Quarter And First Half Of 2012 Fiscal Year

J. Alexander’s Corporation (NASDAQ: JAX) today reported operating results for the second quarter and first half of fiscal 2012 ended July 1, 2012.

Highlights of the second quarter of 2012 compared to the second quarter of 2011 were as follows:

  • Net sales increased 4.2% to $40,186,000 from $38,564,000.
  • Average weekly same store sales per restaurant increased by 4.2% on a quarter-to-quarter basis.
  • Restaurant operating margins (1) increased to 10.5% from 7.4%.
  • Income before income taxes increased to $313,000 in the second quarter of 2012 from $47,000 in the second quarter of 2011. Excluding pre-tax charges of approximately $900,000 recorded in the second quarter of 2012 related to the Company’s evaluation of strategic alternatives, including the execution of a definitive merger agreement for the sale of the Company as previously disclosed, and to a possible contested election of directors, income before income taxes was approximately $1,213,000.
  • Net income increased to $221,000, or $.04 per diluted share, from $57,000, or $.01 per share, in the second quarter of 2011. Excluding the special charges in the second quarter of 2012 noted above which on an after tax basis were approximately $780,000, net income for the quarter was approximately $1,001,000, or $.16 per diluted share.

Commenting on the second quarter of fiscal 2012, Lonnie J. Stout II, Chairman, President and CEO, said, “We are pleased to report another excellent period of solid gains in sales and net income. Once again, we achieved higher same store sales, which marked our eleventh consecutive quarter of increases. We continue to be encouraged by recent same store sales trends which we believe are due to improved economic conditions and consumer spending patterns, as well as our sustained focus on operational execution.”

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs