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