BJ’s Shares Fall on Missed Profit, RevenueFriday, April 27, 2012
Shares of Huntington Beach-based BJ’s Restaurants Inc. were down about 5% in early trading today after the company missed on revenue and profits for the recently ended quarter.
BJ’s operates a chain of 118 casual dining restaurants.
The company reported net income of $8.6 million for the three months through April 3, up 20% from the year-ago period.
Analysts on average expected net income of about $9 million.
The company’s revenue for the April quarter increased 16% from a year earlier to $167.6 million.
BJ’s is set to unveil a refreshed menu next month along with a customer-loyalty program in July as part of a series of what the company called “sales-building initiatives.”
Same-store sales during the recently ended quarter increased 3.3%, representing a slowdown from the year-ago increase of 7.8%.
The company did not provide guidance for the current quarter.
Analysts on average expect a profit of $10.2 million on revenue of $180 million for the June quarter.