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Morton's Restaurant Group Reports Loss in Q2
Friday, August 07, 2009 10:58 AM


(Source: Datamonitor)trackingMorton's Restaurant Group has reported net loss of $6.52 million or $0.41 loss per diluted share, in the second quarter ended July 5, 2009, compared to net income of $1.73 million or $0.11 earnings per diluted share, in the second quarter ended June 29, 2008.

Revenues for the three-month period ended July 5, 2009 were $68.68 million compared to $85.65 million for the three-month period ended June 29, 2008.

For the six-month period ended July 5, 2009, net loss was $8.29 million or $0.52 loss per diluted share, compared to net income of $4.09 million or $0.25 earnings per diluted share in the same period of 2008.

Revenues for the six-month period ended July 5, 2009 were $143.04 million compared to $176.32 million for the six-month period ended June 29, 2008.

Thomas Baldwin, chairman and CEO of Morton's Restaurant Group, said: "The global economic slowdown represents a challenging environment for the entire hospitality industry. This recession has impacted business travel, convention business, hotel occupancy and air travel all of which have a direct effect on our Morton's businesses.

"We have made great strides with our marketing initiatives, profit enhancements and cost management programs. We fully believe that Morton's, with our uncompromising commitment to our guests' experience and quality, and our strong Morton's brand, remains well positioned for long-term growth when the economy improves."

A service of YellowBrix, Inc.



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