Nov 15, 2007 (Datamonitor via COMTEX) — SBA | charts | news | PowerRating — Sbarro, which operates quick-service restaurants, has reported an increase in revenues to $91.0 million for the third quarter ended September 30, 2007 compared with $79.2 million for the same period in the previous year.
Net income for the third quarter of 2007 was $503,000 compared with $2.1 million for the same period in the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) as calculated in accordance with the terms of the company’s bank credit agreement, was $14.7 million compared with $13.0 million for the third quarter of 2006.
For the nine-month period, combined revenues were $254.1 million compared with $252.5 million for the same period of 2006. Combined net loss was $35.1 million compared with $1.7 million for the nine months ended October 8, 2006. Combined EBITDA, as calculated in accordance with the terms of the company’s bank credit agreement, was $34.3 million compared with $35.6 million for the nine-month period of 2006.
Peter Beaudrault, chairman of the board, president and CEO of Sbarro, said: “We are pleased with the continuing growth in same store sales in both our company owned and franchised stores. Our international franchise store openings continue to make progress and our pipeline of new international stores approximates 1,100. While commodity cost increases, particularly cheese cost, have proven to be challenging in the quarter, we have done well in controlling all other expenses.”