From Yahoo:
LTUS operates 51 salad buffet restaurants in CA, FL, AZ, NM and UT under the names Souplantation and Sweet Tomatoes.
For the three months ended 12/97, net sales rose 24% to $23.9 million. Net income increased 56% to $586 thousand.
Revenues reflect higher comparable restaurant sales and the opening of seven new restaurants. Net income also reflects
lower cost of sales and occupancy and other operating costs as a percentage of sales due to higher sales volume and average
meal prices.
Other notes:
Comparable restaurant sales up 9.8% in first three months of 1998
Opened seven locations in fiscal 1997 and plans 11 for 1998.
Personal note:
I live near a Sweet Tomatoes and it is always packed for lunch and dinner. They capitalize on the interest in eating healthy and offer dozens of fresh salads, soups, pasta, pizza,and desserts in a buffet format with nice atmosphere. My family loves going here.
With a current P/E of 17.5 and net income up 56% in the latest quarter, this looks like a buying opportunity. What do you think? |
