Restaurant News Resource - Frisch's Restaurant Industry News

Frisch's Restaurants, Inc. (NYSE Amex: FRS) reported higher earnings and revenue for its 12-week fiscal second quarter ended December 13, 2011. Net earnings for the quarter increased 12.2 percent to $2,788,106 compared to $2,484,877 last year, largely the result of a lower effective tax rate. Diluted net earnings per share increased 14.3 percent to $0.56 per share, from $0.49 per share last year.

Frisch's Restaurants, Inc. (NYSE Amex: FRS), announced that the Board of Directors declared a $0.16 per share quarterly dividend payable January 10, 2012 to shareholders of record at the close of business on December 27, 2011.

Consolidated revenues declined 1.3% to $91,728,189 from $92,925,834 in last year's first quarter. The Company experienced a net loss of $2,274,283 in the quarter compared to net earnings of $2,741,279 last year.

Frisch's Restaurants, Inc. (NYSE Amex: FRS) today announced that it has engaged Brookwood Associates, L.L.C., an investment banking firm specializing in the restaurant industry, to assist the Company in its evaluation of strategic alternatives for its Golden Corral business segment.

Frisch's Restaurants, Inc. (NYSE Amex: FRS), announced today that the Board of Directors declared a $0.16 per share quarterly dividend payable October 10, 2011 to shareholders of record at the close of business on September 26, 2011.

Four of the six underperforming restaurants – Western Hills, Ridge Road, Lawrenceburg and Hamilton - were operated in the greater Cincinnati area and the remaining two were operated in West Akron and Medina, Ohio.

Frisch's Restaurants, Inc. (NYSE Amex: FRS) reported record sales of $303,540,552 for the fiscal year ended May 31, 2011, as sales rose $10,668,378, or 3.6%, from $292,872,174 last year.

Frisch's Restaurants, Inc. (NYSE Amex: FRS), announced that effective today Mark R. Lanning, 56, will become the Company's Vice President-Finance with the intent that he will also be named the Company's Chief Financial Officer within three months following a brief transition period working with retiring CFO, Donald H. Walker.

Sales increased 4.0% to $67,490,452 from $64,872,608 in last year's third quarter. Net earnings for the quarter decreased 8.3% to $1,855,319 compared to $2,023,710 last year. Diluted earnings per share declined to $.37 per share, from $.39 per share last year.

Will Continue to Serve on Board of Directors