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Katrina Hurts Checkers

TAMPA, FL-Checkers Drive-In Restaurants Inc. blames Hurricane Katrina for lost revenue and poor earnings for its fiscal third quarter.

By Jennifer D. Duell | Updated on October 20, 2005

TAMPA, FL-Checkers Drive-In Restaurants Inc. sawrevenues for its fiscal third quarter drop 4% to $43.2million because of the closure of 68 restaurantsacross the Gulf Coast due to Hurricane Katrina. Thehurricane deprived the chain of $800,000 in revenue,according to Checkers president and CEO Keith Sirois.

“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%.

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