Einstein Noah net falls 88% in fiscal 2010

by Eric Schroeder
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LAKEWOOD, COLO. — Net income at Einstein Noah Restaurant Group, Inc. fell 88% in the year ended Dec. 28, 2010, to $11,308,000, equal to 68c per share on the common stock. Net sales in fiscal 2010, meanwhile, rose 0.8% to $411,711,000 from $408,562,000. The company’s fourth-quarter income rose 28% to $3,598,000, or 22c per share, behind continued emphasis on fresh-baked goods and new product innovation that drove traffic. “For 2011, we expect to maintain that focus by leveraging our strengths within our core bagel/breakfast and healthy innovation, while promoting premium sandwiches, add-on purchases and catering to further raise our average check,” said Jeff O’Neill, chief executive officer and president.

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