Ruth's stated in a release that it has no current commitments or intentions to sell securities, but made its SEC filing for flexibility to access capital markets as needed. A written prospectus will be issued in advance of any securities offering, the company said.
Ruth's Hospitality, which owns more than 150 company and franchise-owned locations worldwide, posted slightly lower first-quarter revenue of $97.5 million along with net income of $3.7 million, down 17.8% year over year. Sales at restaurants open longer than a year fell 18.5%.
In addition to the upscale Ruth's Chris chain, the company owns Mitchell's Fish Market, Mitchell's Steakhouse and Cameron's Steakhouse. Ruth's Hospitality acquired those concepts from Columbus, OH-based Cameron Mitchell Restaurants LLC in February 2008.
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