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VOL. 35 | NO. 31 | Friday, August 5, 2011




J Alexander's 2Q net income more than doubles

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NASHVILLE (AP) - J. Alexander's Corp.'s fiscal second-quarter net income more than doubled, benefiting from price increases and more guests at its restaurants.

The restaurant operator said Thursday that it earned $57 million, or 1 cent per share, for the period ended July 3. That compares with earnings of $26 million, or break-even per share, a year earlier.

Revenue increased 6 percent to $38.6 million from $36.3 million.

J. Alexander's said that average weekly revenue at restaurants open more than 18 months gained 6 percent in the quarter.

This figure is a key indicator of a restaurant operator's health because it excludes results from restaurants recently opened or closed.

The average weekly guest count per restaurant rose 1.9 percent, while the average check, including alcoholic beverages, increased 4 percent to about $26.

J. Alexander's has been raising prices for its customers because it is having to pay more fo r dairy products, produce, beef and seafood.

The company's stock sagged 86 cents, or 13.9 percent, to $5.32 in afternoon trading as the broader market declined. Over the past year, the shares have traded between $3.73 and $7.

The Nashville, Tenn., company runs restaurants in Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Michigan, Ohio, Tennessee and Texas.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0