Tuesday, April 09, 2002

Tristate Earnings Reports


Frisch's sales up 14% in 3Q

The Cincinnati Enquirer

        Frisch's Restaurants continued to break sales and earnings records last quarter.

        The Cincinnati-based operator of Frisch's Big Boy and Golden Corral restaurants said Monday that sales rose 14 percent to $48.1 million, while net income rose 48 percent to $1.85 million. Third-quarter profit last year included a $53,000 loss from the hotel business that Frisch's sold.

        “Big Boy namesake sales, which were aided by a very mild winter weather in the third quarter, rose 7.3 percent,” said Craig Maier, Frisch's chief executive. “It also marks the 18th consecutive quarter of same-store sales increases in our Big Boy restau rants. In addition, our Golden Corral sales remain very strong, backed by expanded advertising.”

        In another report:

        • CECO Environmental Corp.: The parent of Oakley's Kirk & Blum, a maker of industrial air pollution control equipment, said revenues last year were a record $91 million, up 1.3 percent from the prior year's $89.8 million.

        For the year ended Dec. 31, CECO reported a narrower net loss of $264,000, or 3 cents a share, versus a loss of $690,000, or 8 cents a share, in the prior year.

        Operating income increased to a record $3 million from $1 million in the prior year.

       



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