Luby's (LUB) Sees FY12 EPS at High-End of Guidance; Issues FY13 Outlook

August 30, 2012 6:39 AM EDT
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Luby's, Inc. (NYSE: LUB) reports that its fiscal 2012 diluted earnings per share are expected to be on the high end of the Company's previous guidance range of $0.18 to $0.21, due to sales consistent with our expectations and successful management of costs.

Luby's believes that it will report restaurant sales of approximately $324 million for its fiscal year ended August 29, 2012, at the top end of its guidance range of $321 million and $324 million. Its same store sales are anticipated to be approximately 2.3%, exceeding its guidance of 1.5% and 2.0%.

The Street is looking for EPS of 23 cents and sales of $355 million.

Luby's is also providing revenue and earnings guidance for fiscal 2013. Luby's anticipates earnings per diluted share will grow to $0.27 to $0.30 in fiscal 2013, due to sales growth and continued margin expansion. Luby's expects that its same store sales for its fiscal 2013 will increase 0.5% to 1.5% and that its restaurant sales will be in the range of $332M to $335M. Luby's will continue to expand its geographic footprint and anticipates opening one to two cafeterias in 2013. It also expects to open three to five Fuddruckers.

The Street sees FY13 EPS of 25c and sales of $368 million.

Luby's President and CEO is Chris Pappas.

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