BJ's Restaurants 2Q net income falls 4 pct
HUNTINGTON BEACH, Calif. (AP) — BJ's Restaurants Inc. said Thursday that its second-quarter net income fell 4 percent, as higher costs more than offset contributions from newly opened stores.
For the quarter ended July 2, the Huntington Beach, Calif.-based company earned $8.6 million, or 30 cents per share, down from $9 million, or 31 cents per share, in the same quarter of 2012.
The recent quarter's results included a charge of 1 cent per share related to a restaurant closing. Excluding that, the company earned an adjusted 31 cents per share.
Revenue jumped 10 percent to $198.5 million from $180.7 million.
The results fell slightly short of Wall Street predictions. Analysts, on average, expected a profit of 32 cents per share on $202.5 million in revenue, according to FactSet.
Revenue at BJ's Restaurants open at least a year was flat. The metric is a key measure of a retailer's health, because it excludes revenue at stores that recently opened or closed.
The company opened four new restaurants during the quarter, bringing its total so far this year to five. It said it remains on track to meet its goal of 17 new restaurants for the fiscal year. BJ's currently operates 136 restaurants in 15 states.
BJ's shares fell $1.39, or 4 percent, to $34.25 in aftermarket trading. The shares ended the regular session down 20 cents at $35.64.