November 16, 2002 |
Increased sales Down Under helped the parent of the Sizzler steak restaurant chain post a fourfold increase in earnings for its second quarter ended Oct. 13, the parent firm said Friday. Sherman Oaks-based Worldwide Restaurant Concepts Inc. said net income for the quarter was $1.4 million, or 5 cents per share, compared with last year's $355,000, or 1 cent per share. Revenue was $64.4 million, a gain of 7.5% over the $59.9 million posted in the same period last year.
December 9, 2004 |
Worldwide Restaurant Concepts Inc., operator of the Sizzler steakhouse chain, said Wednesday that it had hired an advisor to weigh options including a sale or merger. The struggling Sherman Oaks company retained investment banker Houlihan Lokey Howard & Zukin to develop strategies that could include a complete or partial sale. Worldwide operates or franchises 22 Pat & Oscar's restaurants, 306 Sizzlers in the U.S. and Australia and 112 franchised KFC units, mostly in Australia.
June 28, 2003 |
Worldwide Restaurant Concepts Inc., the parent of the Sizzler steak chain, reported Friday that its fiscal fourth-quarter profit fell 14% because of the cost of opening new restaurants and legal expenses. The Sherman Oaks-based company posted net income of $1.8 million, or 6 cents a share, for the quarter ended April 30, down from $2.1 million, or 8 cents, a year earlier. Fourth-quarter revenue was $71.5 million, up 12% from $63.6 million.
August 31, 2001 |
Sizzler International Inc., in a marketing gambit that hopes to deliver more steak than sizzle, said Thursday that it plans to change its name to Worldwide Restaurant Concepts Inc., effective Tuesday. The Culver City-based company, which has long struggled to lift its profit and stock price, said the name change would better reflect its international presence and its restaurants that aren't part of the Sizzler chain.
September 3, 2004 |
Worldwide Restaurant Concepts Inc. said Thursday that its fiscal first-quarter earnings plunged 83% as it continued to feel the effects of last year's E. coli outbreak at its Pat & Oscar's chain. The Sherman Oaks-based company earned $595,000, or 2 cents a share, in the period that ended July 25, down from $3.6 million, or 12 cents, a year earlier. Revenue grew 5% to $82 million. Worldwide operates 23 Pat & Oscar's eateries in California, 312 Sizzler steak outlets in the U.S.
April 30, 2005 |
The Sherman Oaks-based owner of the Sizzler dining chain, Worldwide Restaurant Concepts Inc., said Friday that it agreed to be purchased by an Australian investment firm for about $210 million in cash. The $7-a-share offer from Sydney-based Pacific Equity Partners was 42% higher than Thursday's closing price for Worldwide's stock and double the shares' value Dec. 7, the day before the company said it might be looking for a buyer. In heavy trading Friday, Worldwide's stock jumped $1.