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New World turns profit in quarter
Published March 1, 2007 at midnight
Golden-based New World Restaurant Group Inc. reported net income of $6 million, or 54 cents per share, for the quarter ended Jan. 2, up from a net loss of $723,000, or 7 cents per share, in the year-ago quarter. Revenue for the three-month period fell 5 percent, to $92.4 million.
For the fiscal year, the operator of bagel chains including Einstein Bros. and Noahs New York Bagels, reported a net loss of $6.9 million or 66 cents per share compared to a net loss of $14 million or $1.42 per share the year before. Revenue for the year was flat at $390 million. Same-store sales, or sales open more than a year, rose 4.7 percent in the quarter and 4.5 percent for the year, the company said.
President and CEO Paul Murphy said Thursday that the company plans to accelerate store openings, from five new stores in 2006 to upwards of 15 this year, in markets including Atlanta, Chicago and Las Vegas.
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