Outback profit up 28% in 9 months of 1996

Nation's Restaurant News, Dec 9, 1996

TAMPA, Fla. - Outback Steakhouse Inc. has reported a 28-percent increase in profits, to $52.81 million, for the nine months ended Sept. 30, from $41.2 million in the same period a year earlier. Revenues also rose 28 percent, to $689.31 million, from $536.61 million.

Systemwide sales, compared with similar periods a year ago, grew 25 percent for the quarter, to $272.37 million, and were up 31 percent for the nine-month period, to $787.32 million.

For the third quarter, profits were up 25 percent, to $17.71 million, from $14.13 million. Revenues increased 24 percent, to $236.73 million, from $191.26 million.