Famous Dave's of America Inc. on Wednesday reported improved sales and profits for its second quarter, sending its stock up in after-hours trading.
The Minnetonka-based restaurant chain posted revenue of $43.4 million, up from $41.3 million for the same time a year ago. Comparable sales for company-owned restaurants open at least 24 months — a key sales gauge — were up 3.8 percent compared with a decrease of 0.6 percent a year ago.
Meanwhile, Famous Dave's net income clocked in at $2.1 million, or 27 cents per share, compared with $1.9 million, or 25 cents per share, a year ago, an 8 percent increase. The comparison would have been even more favorable if not for one-time charges during the second quarter.
"I am pleased with our performance despite the economic environment that continues to challenge the restaurant industry," Famous Dave's CEO John Gilbert said in a statement. "Our improved quarterly financials are the result of a more focused organization executing on our previously announced program to optimize the customer experience."
The company's stock closed Wednesday at $16.41, down 24 cents, or 1.4 percent. But quarterly results were released after the market closed, and in after-hours trading Dave's stock was up 68 cents, or 4 percent.
Mike Hughlett • 612-673-7003
