- Total revenues increased 2.2% to $106.0 million from $103.7 million, reflecting a 3.0% increase in Company-owned restaurant sales, while manufacturing and commissary revenues decreased 7.2% due to recent commissary closures.
- System-wide comparable store sales increased +1.3%, the fifth consecutive quarter of positive trends.
- Net income was $3.0 million, or $0.17 per diluted share, which included $0.02 per diluted share for charges related to the strategic alternatives review process, compared to $3.1 million, or $0.18 per diluted share, which included gains of $0.03 per diluted share for the sale of two restaurants and the receipt of insurance proceeds.
- Outstanding indebtedness was reduced by $1.9 million since April 3, 2012 to $70.5 million.
- Adjusted EBITDA increased 13.7% to $11.0 million from $9.7 million. (*)
Einstein Noah Restaurant Group, Inc. (NASDAQ: BAGL), a leader in the quick-casual segment of the restaurant industry operating under the Einstein Bros.® Bagels, Noah's New York Bagels®, and Manhattan Bagel® brands, today reported financial results for the second quarter ended July 3, 2012. Highlights for the Second Quarter 2012 Compared to the Second Quarter 2011: