Hamburger Hamlet Has Sharp Quarterly Decline

Hamburger Hamlet Restaurants Inc., a Sherman Oaks-based owner and operator of restaurants, reported a sharp decline in its second-quarter earnings after taking a $550,000 onetime charge.

In the quarter ended June 26, the company earned $13,000, down 93% from its $198,000 in net income a year earlier. Revenue was up slightly, to $17.3 million from $17.1 million.

The onetime charge was for the write-down of a note receivable and reserves for possible future lease obligations, both related to the sale of a restaurant in 1989, the company said. It also said that second-quarter results were impacted by lower sales in Chicago and Southern California.

For the six months, Hamburger Hamlet lost $314,000, while its revenue edged up to $34.8 million. A year earlier, it earned $663,000 on $34.5 million in revenue.

Hamburger Hamlet also said it named A. Shawn Holder as its president and chief executive, succeeding Jack A. Lavine , who held those positions on an interim basis. Holder most recently was senior vice president and chief operating officer at Chart House Enterprises Inc. in San Diego.

Lavine remains with the company as executive vice president and chief financial officer.