Ruby Tuesday Inc., a casual dining restaurant operator, recently reported first-quarter
2011 adjusted earnings of 17 cents a share, surpassing the Zacks Consensus Estimate by 1 cent. On a reported basis, including one-time gains, quarterly earnings came in at 19 cents a share, reflecting a substantial increase from 11 cents delivered in the prior-year quarter.
Total revenue for the quarter inched up 0.7% year over year to $302.7 million, attributable to a rise in comparable-store sales. Restaurant sales were up 0.4% to $300.6 million, whereas franchise revenues leaped 56.7% to $2.1 million.
Ruby Tuesday has been witnessing improving trends in comparable-store sales and traffic at company-operated restaurants.