Landry's Seafood's 3rd-Quarter Net Income Fell 12%
Landry's Seafood Restaurants Inc. - Houston
3rd Quar Sept. 30:
1998 1997
Revenue $109,353,000 $89,808,000
Net income 7,588,000 8,574,000
Avg shrs (basic) 30,350,000 25,600,000
Avg shrs (diluted) 30,350,000 26,920,000
Shr earns (basic)
Net income .25 .33
Shr earns (diluted)
Net income .25 .32
Landry's Seafood Restaurants Inc. (LDRY) said third-quarter same-store
sales fell 9%.
The company said Tropical Storm Frances and Hurricanes Bonnie, Earl
and Georges accounted for at least $2.5 million of lost sales during the
quarter.
Landry's Seafood expects to record a fourth-quarter charge related to
a new accounting standard for pre-opening costs.
Copyright (c) 1998 Dow Jones & Company, Inc.
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