Frisch's operates restaurants under the name of Frisch's Big Boy, as well as buffet-style Golden Corral restaurants under licensing agreements. All of Frisch's restaurants are in Ohio, Indiana and Kentucky, but the company plans to expand its Golden Corral operations into Michigan, Pennsylvania and West Virginia.

Same-store sales in the third quarter at the company's Big Boy restaurants increased a modest 1.4%, while same-store sales for its Golden Corrals declined 7.3% compared with the same period last year. Total sales in the quarter were $62.8 million, up 5.8% over the same period last year.

The company also recorded a non-taxable gain of $4.44 million in Q3 from life insurance proceeds realized upon the death of Jack C. Maier, chairman of the board, who died on February 2. Excluding that gain, earnings for the third quarter were about $1.7 million, or $0.33 per share, down 23.1% from last year's third quarter. (Maier was replaced last month by Daniel W. Geeding, a director of Frisch's since 1992, and VP and CFO of the Health Foundation of Greater Cincinnati and the Health Foundation Fund.)

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