Lubys, Inc. (LUB) Misses Q1 EPS by 1c

Lubys, Inc. (NYSE: LUB) reported Q1 EPS of ($0.07), $0.01 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $86.9 million, versus $0 reported last year.

• Same-store sales growth at the core Luby's Cafeteria and Fuddruckers brands
• Same-store sales increase of 2.4% at our first Combo location and total Combo sales growth of $4.0 million compared to the first quarter fiscal 2014 with the addition of four new Combo locations opened in fiscal 2014

Chris Pappas, President and CEO, commented, "We are pleased to report total revenue growth this quarter in each of our business segments: Company-owned Restaurants, Culinary Contract Services, and Franchise Operations. We also achieved sales increase on a same-store basis at our Luby's Cafeterias, Fuddruckers restaurants, and Combo location (consisting of a side-by-side Luby's Cafeteria and Fuddruckers at one property location).

"In the first quarter fiscal 2015, we opened two new Fuddruckers restaurants, one in Brandywine, Maryland and one in El Paso, Texas. We also began operations at two new Culinary Contract Services locations, one in Greensboro, North Carolina and one in Houston, Texas. Today we operate 26 Culinary Contract Services locations compared to 21 at the end of the first quarter fiscal 2014.

"Our five Combo locations contributed 6.3% to our total restaurant sales in the first quarter fiscal 2015. These locations, in the aggregate, are meeting our sales expectations and represent a strategic growth driver for our company."

For earnings history and earnings-related data on Lubys, Inc. (LUB) click here.

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