Back Bay Restaurant Group reports third quarter 1995 financial results

Business Wire, Oct 26, 1995

BOSTON--(BUSINESS WIRE)--Oct. 26, 1995-- Back Bay Restaurant Group Inc. (NASDAQ:PAPA) announced today its operating results for the thirteen and thirty-nine weeks ended Sept. 24, 1995.

Net sales in the thirteen week period increased 4.3 percent to $22,574,000 from $21,652,000 in the third quarter of 1994. Net income was $29,000 in the quarter compared with $284,000 in last year's third quarter. Net income per share in the quarter was $.01 versus $.08 last year. Same store sales decreased 4.4 percent in the thirteen week period ended Sept. 24, 1995.

Net sales in this year's thirty-nine week period increased 8.7 percent to $67,587,000 from $62,151,000 in the same period for 1994. Net loss in the thirty-nine week period was $325,000 vs. net income of $1,079,000 last year. Net loss per share in the period was $.09 vs. net income of $.30 last year. Same store sales decreased 3.3 percent in the thirty-nine week period ended Sept. 24, 1995.

Back Bay Restaurant Group Inc. owns and operates 36 full-service restaurants located in New England, New York, New Jersey and the Washington, D.C. metropolitan area. Seventeen feature Northern Italian cuisine and are operated under the Papa Razzi trade name. Nineteen restaurants serve American-style food and are operated under several trade names, including "Joe's American Bar & Grill," "Charley's Eating & Drinking Saloon," "J.C. Hilliary's Ltd.," "Famous Atlantic Fish Company," and "Rayz Riverside Cafe."

                          SELECTED FINANCIAL DATA
                               (unaudited)
                        (in 000s except share data)