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.
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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