CINCINNATI Frisch’s Restaurants Inc., operator or licensor of 117 Frisch's Big Boy restaurants and franchisee of 35 Golden Corral units, reported a 7.9-percent increase in its third-quarter profit and cited a slight sales increase and cost management as profit drivers.
For the quarter ended March 4, net income rose to $2.1 million, or 40 cents per share, from year-ago results of $1.9 million, or 37 cents per share.
Revenue for the latest quarter rose 1.8 percent to $66.6 million. Same-store sales at Frisch’s Big Boy restaurants dropped 0.5 percent for the quarter and rose 0.2 percent at Golden Corral. The same-store sales result at Golden Corral marked only the second quarter in the past 18 quarters that the grill-buffet chain was able to post positive numbers.
“We still believe higher gasoline costs and the sluggish Midwest economy continue to impact our customers,” Craig Maier, president and chief executive, said in a statement.
Frisch’s restaurants operate in various regions of Ohio, Kentucky, Indiana and Pennsylvania. No new restaurants opened during the quarter, the company reported.