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BJ’s Restaurants Surges After Beating Estimates

Huntington Beach-based BJ’s Restaurants Inc. saw its shares surge Friday, a day after reporting better-than-expected quarterly results.

Shares of BJ’s were up 16% near the close of New York trading with a market value of about $900 million.

The surge came after BJ’s reported better than expected third-quarter results on Thursday.

BJ’s, which runs some 100 casual restaurants, reported a profit of $5.5 million, up 71% from a year earlier and topping the $4.4 million expected on average by analysts.

Sales were $128.8 million, up 24% and toppng the $124 million expected by Wall Street.

Same-store sales, or sales at restaurants open at least a year, were up 6.7%.

The company didn’t provide a specific fourth-quarter outlook but said it expects trends to remain strong as diners return to eating out.

BJ’s, which serves deep-dish pizza, pasta, salads, steak and sandwiches, has grown through an extended dining downturn.

The company expects to open 12 to 13 new restaurants through 2011.

This month, the company opened a Puente Hills restaurant, its 101st.

BJ’s shares are up more than 50% so far this year, outpacing other restaurant chains.

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