USA: Granite City Food & Brewery Q4 2007 net loss widens

Granite City Food & Brewery Ltd. reported net loss for the fourth quarter of fiscal 2007 of $4.45 million or $0.28 per diluted share, compared to a net loss of $1.77 million or $0.13 per diluted share in the prior year quarter, according to RTTNews, February 26.

On average, five analysts surveyed by First Call/Thomson Financial expected the company to report loss of $0.19 per share for the quarter.

Total revenue for the quarter rose by 15.9% to $19.7 million from $17 million in the year-ago quarter. Analysts had consensus revenue estimate of $21.48 million for the quarter.

Comparable restaurant sales for the quarter decreased 2.6%, compared to an 8.3% increase in the last year quarter.

Operating loss for the quarter was $3.34 million, compared to a loss of $892 thousand in the same period last year.

27 February, 2008