Lubys, Inc. (LUB) Reports Q3 EPS of $0.09, Comments on Outlook

Lubys, Inc. (NYSE: LUB) reported Q3 EPS of $0.09, versus $0.06 reported last year. Revenue for the quarter came in at $94.1 million, versus $96.36 million reported last year.

Fiscal 2015 Outlook

"We remain focused on improving store level profit across all of our restaurant brands through dedicated efforts to continually enhance our product offerings and provide superior service to our guests. Our entire team is focused on improving sales and profitability through efficient operating costmanagement, store-level performance initiatives and modest price adjustments on selected menu items. Our fiscal 2015 expectation is to realize same-store sales growth at our core Luby's Cafeterias and Fuddruckers brands and higher store level profit, with lower general and administrative expenses, offset by higher depreciation and interest expense, resulting in improved financial results over the prior year. We continue to effectively manage our capital expenditures in fiscal 2015 and we expect to achieve our capital expenditure guidance range for fiscal 2015 of between $20 and $22 million. Over the next 24 months, we also expect to sell excess real estate and redeploy over $15 million in estimated net proceeds into a new remodel program, new units, and debt reduction. Our strategy to enhance growth through the opening of new Combo locations remains on track. We are actively looking for the next Combo site in the Southern U.S. in new markets where we do not already operate with our Luby's Cafeteria brand. In our franchise pipeline, we estimate six new Fuddruckers restaurant location openings in fiscal 2015, in both domestic and international markets, including Italy, Poland, Panama, and Chile," concluded Pappas

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

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