July 28, 1996
GB Foods Corp., which owns and franchises Green Burrito restaurants, said its net loss for the second quarter narrowed to $74,000, or 1 cent a share, from a net loss of $392,000, or 6 cents a share, for the same period in 1995. Revenue declined 29% to $1.2 million from $1.7 million. The company said it lost $316,000, or 5 cents a share, for the first six months, compared with a net loss of $1.5 million, or 25 cents a share, a year earlier. Revenue was down 27% to $2.4 million from $3.34 million.
July 16, 1996
GB Foods Corp., which operates the Green Burrito chain of Mexican restaurants, said Monday it has taken steps to provide more protection from an unwanted takeover. The company said, however, that it is not aware of any such effort. Under the plan, stockholders will receive rights to acquire additional shares of the company's stock at a discount to the market price if an individual or group acquires a stake of 15% or more. The rights distribution will be made Aug.
May 5, 1996
GB Foods Corp., operator and franchiser of Green Burrito fast-food restaurants, narrowed its losses in the first quarter while revenue dropped 20%. The company lost $242,087, or 4 cents a share, compared with a net loss of $1.1 million, or 20 cents a share, for the same period in 1995. The year-earlier figure included a charge of $716,393 from litigation settlements and related costs. Revenue was down 20% to $1.2 million from $1.5 million.
December 21, 1995
GB Foods Corp. of Newport Beach and Hardee's Food Systems Inc., a Rocky Mount, N.C.-based burger chain, will test dual-menu restaurants at a handful of locations beginning early next year, the companies said Wednesday. The first jointly operated Green Burrito and Hardee's restaurant will open in Oklahoma, and as many as 20 jointly operated restaurants eventually will be opened. Green Burrito's Mexican-style fast food menu also is being added to about 200 Carl's Jr. fast-food restaurants.