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Benihana Sales Sizzle in 4Q and Full Year

MIAMI-The locally based, 59-unit Asian-styled restaurant chain posted total revenue of $170 million for fiscal 2002 ended March 31 versus $161.9 million in fiscal 2001. Sales of $42.5 million in the last three months of fiscal 2002 compared to 41.9 million in the previous year.

By Alex Finkelstein | Updated on April 10, 2002

MIAMI-Fourth-quarter and full-year sales at Benihana Inc.’s five Haru sushi restaurants saved the locally based, 59-unit, Asian-styled dining chain from showing a loss, according to the company’s preliminary filing with the Securities and Exchange Commission. Audited financial results will be posted in mid-May, the company says in a prepared statement.

Total sales for the last three months of fiscal 2002 ended March 31 were $170 million versus $161.9 million in fiscal 2001. Full-year revenue totaled $170 million compared to $161.9 million the previous year.

The Haru restaurants logged sales of $4.3 million in the fourth quarter, up 95.5% from $2.2 million in fiscal 2001. But the regular Benihana-concept restaurants and the two Sushi Doraku restaurants were in the negative sales column for both the quarter and full year.

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