Morton's six-month net income, sales up
by Meat&Poultry Staff
CHICAGO – Morton’s Restaurant Group Inc., the world's largest operator of company-owned upscale steakhouses, announced for the six-months ended July 4 compared to the six month period ended July 5, 2009, G.A.A.P. net income from continuing operations was $1.5 million, or $0.09 per diluted share, compared to a net loss from continuing operations of $7.4 million, or $0.47 per diluted share. Revenues increased 5.5% to $145.8 million from $138.2 million.
Adjusted net income for its fiscal 2010 second quarter ended July 4 from continuing operations was $0.3 million, or $0.02 per diluted share, compared to $0.8 million, or $0.05 per diluted share for the three-month period ended July 5, 2009. Revenues increased 6.1% to $70.5 million from $66.4 million.