McCormick & Schmick's Seafood Restaurants, Inc. Updates Third Quarter 2007 Financial Guidance

The Company now anticipates revenues of approximately $88.0 million, flat comparable sales, and earnings per share of approximately $0.16. This compares to earlier guidance of $90.0 million to $91.0 million in revenues, an increase in comparable sales of 1.5% to 2.5%, and earnings per share of $0.21 to $0.23. The Company will provide additional details on its third quarter results and fiscal year 2007 expectations during its upcoming quarterly conference call, which is scheduled for early November.

During the third quarter of 2007, the Company has opened five McCormick and Schmick's restaurants in Schaumburg and Oakbrook, Illinois, both suburbs of Chicago, Dayton and Cleveland, Ohio, and Austin, Texas.

'Our updated third quarter outlook reflects weakness in September traffic, which we attribute primarily to less demand from our aspirational guest, as a result of economic pressures currently affecting this segment of the U.S. consumer base. While we are certainly disappointed with the revision in our guidance, we have proven the timeliness and relevance of our fresh seafood concept for more than 35 years and are confident that we can weather the current softness in our business,' said Doug Schmick, Chairman and Chief Executive Officer of the Company.

About the Company

McCormick & Schmick's Seafood Restaurants, Inc. is a leading seafood restaurant operator in the affordable upscale dining segment. The Company now operates 77 restaurants, including 72 restaurants in the United States and five restaurants in Canada under The Boathouse brand.


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