just a recap.... not the full report..
Friday November 14, 8:41 am Eastern Time
Koo Koo Roo sees lower Q4 overhead ratio
LOS ANGELES, Nov 14 (Reuters) - Koo Koo Roo Inc said Friday that it expects to reduce corporate overhead as a precentage of revenue, while generating
break-even or positive cash flow from operations in the fourth qaurter.
''As a result of the steps we took towards the end of the third quarter, we expect that corporate overhead will be reduced to approximately 12.8 percent of
revenues in the fourth quarter of this year, as compared to 21.1 percent of revenues last year,'' said Ken Berg, chairman and chief executive officer, in a press
release.
''With a broader revenue base and reduced corporate overhead expenses, we are hopeful that, barring unforeseen circumstances, we will generate a breakeven to
positive cash flow from operations in the fourth quarter of 1997,'' he said.
Koo Koo Roo reported a third quarter loss of $8.9 million, or $0.42 a share with a $5 million charge, compared with a loss of $2.5 million, or $0.19 a share.
The company also said that it continues to investigate strategies that may lead to the recapitalization, sale, spin-off or other restructuring of its interest in Color Me
Mine. It said it is engaged in substantive discussions regarding one such transaction, although no agreement has been reached to date. |
