BJ’s 3rd-Q net jumps 23% on 24-percent revenue rise
HUNTINGTON BEACH, CALIF. — BJ’s Restaurants Inc., the 35-unit casual-dining and brewpub chain that recently changed its name from Chicago Pizza & Brewery, said third-quarter earnings had climbed 24 percent on a 23-percent increase in revenues in combination with lower sales, occupancy, operating, and general and administrative expenses.
BJ’s reported net income of $1.2 million, or 6 cents per diluted share, for the quarter ended Sept. 26, compared with $968,000, or 5 cents a share, for the previous third quarter. Revenues rose to $32.9 million and included an increase in comparable sales of 2.9 percent.
The company, which said it has met its plan to open at least six new restaurants in 2004, expects to open at least eight new units in 2005. BJ’s owns and operates 35 restaurants under the names BJ’s Restaurant and Brewery, BJ’s Restaurant and Brewhouse, and BJ’s Pizza & Grill.
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