Collins Says It Will Report Earnings of $3.8 Million
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Richard P. Bermingham, president of Collins Foods International Inc., told a group of security analysts in New York that he expects the company to record net earnings of about $3.8 million on revenues of nearly $168 million for its fiscal 1987 third quarter ended Jan. 31. A sizable part of Collins’ estimated profits will consist of operating earnings from several restaurant divisions, including Orange-based Naugles Inc., Bermingham said. He did not release specific data about Naugles’ operating profits, which he said are “significant and gratifying.”
Naugles, a Mexican-American fast-food chain, in November reported its first quarterly operating profit in two years. But a $2.3-million write-down for the early retirement of debt resulted in a quarterly net loss of $547,000.
It was unclear Wednesday whether Naugles will have a net loss for its fiscal third quarter after calculation of extraordinary expenses.
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