Huntington Beach

HB-based eatery turns profit

BJ’s IN ORANGE (BJ Brewhouse photo).

HUNTINGTON BEACH  (AP) – BJ’s Restaurants Inc. on Thursday reported first-quarter net income of $1.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Huntington Beach, California-based company said it had profit of 6 cents.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.

The restaurant chain posted revenue of $298.7 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $297.9 million.

BJ’s Restaurants shares have fallen 15 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.48, a decline of 50% in the last 12 months.


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