"We're pleased by our operating performance despitethe (negative events) that occurred during thequarter," Sirois said during the chain's quarterlyearnings call.
During the third quarter of 2005, company-ownedsame-store sales increased 0.2%, marking positivesame-store sales results for the chain during the last18 of the last 19 quarters. Sirois indicated his pridein the fact that the company achieved same-store salesgrowth for its company-owned stores given the highbenchmark of 15% same-store sales growth posted forthe same period last year. Franchised same-store salesdropped 2%.
Checkers, which has 793 stores across the US, sawits net income for the third quarter drop to $1.2million, or 10 cents per diluted share, compared to$1.6 million, or 13 cents per diluted share in thesame quarter last year.
During the quarter, the chain was hit with some heftyoperating expenses such as $840,000 of compensationexpense for its board of directors of $840,000 and$250,000 in hurricane-related insurance deductibleexpense.
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