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Strategies & Market Trends : Sharck Soup

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To: Jim Spitz who wrote (31718)	7/23/2001 2:51:58 PM
From: Softechie	Read Replies (1) of 37746

Jim, Quit dining at Famous Dave's. You're making it rich! Famous Dave's of America (DAVE) gained more than 6 percent after the Minneapolis barbeque restaurant firm reported second-quarter earnings of $1.4 million or 13 cents a share, edging Wall Street expectations by a penny. Revenue totaled $22.8 million for the period, a 22 percent improvement from last year. Same-store sales rose 3.1 percent, while average weekly restaurant volume advanced 5.7 percent to $48,700. Looking ahead, Famous Dave's said it expects to earn 11 to 13 cents per share on revenue of $23 million to $24 million in the third quarter and a profit of 35 to 38 cents a share on revenue of $90 million for the year. Analysts polled by First Call/Thomson Financial are currently looking for earnings of 10 cents and 38 cents, respectively. Famous Dave's also confirmed plans to open six to eight new company locations and 10 to 12 new franchise locations in 2001.

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