Grill Concepts (GRIL) Reports a Q2 Loss

Grill Concepts, Inc. (Nasdaq: GRIL) reports a Q2 loss of $0.01 compared to $0.23 profit for the same period last year, which included a $2.0 million tax benefit related to the reversal of the majority of the company's valuation allowance with respect to deferred tax assets.

For the fiscal 2007 second quarter, total revenues rose 21.7% to $22.8 million over the prior-year period, with sales at company-owned restaurants up 16.7% to $16.9 million and management and license fees up 36.8% to $572,000.

Same-store sales grew 10.6% in the three months ended July 1, 2007. The Grill on the Alley restaurants delivered an exceptional 21.9% increase in comparable restaurant sales, reflecting both increased guest counts and check averages. The company's Daily Grill restaurants posted a 5.2% gain in same-store sales.

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