Luby's Reports Preliminary Q4 And 2013 Revenue Results; Guides FY14

(RTTNews) - Luby's Inc. (LUB) announced preliminary revenue results and revises earnings expectations for the fourth quarter and fiscal year.

The company reported that its fourth-quarter of fiscal 2013 total revenue was $125.94 million. Same-store sales for the quarter increased 0.5%.

For fiscal 2013 total revenue was $390.40 million. The company reported Same-store sales for the year of 0.0%.

The company currently anticipates its 2013 fiscal year income from continuing operations per share will range from $0.13 to $0.14. Excluding the first year loss of approximately $1.8 million from Cheeseburger in Paradise, it anticipates income from continuing operations per share will be $0.19 to $0.20.

Chris Pappas, President and CEO, said, "We made progress on our new multi-brand combo unit development with several locations secured in our new unit pipeline for future growth. We continue to focus on our core restaurants to support the growth of the Company and our development plans to build additional new Luby's Cafeterias and Fuddruckers restaurants in 2014."

In fiscal 2014, the company expects to grow same-store sales up to 1% from fiscal 2013 levels. Restaurant sales are expected to be in the range of $375 million to $385 million, including $8 to $10 million from new stores opening in fiscal 2014.

The company said it will release its full financial results for the fourth quarter and fiscal year 2013 on November 6, 2013.