Fiesta Restaurant Profit Estimate, Revenue Misses

(RTTNews) - Fiesta Restaurant Group Inc (FRGI) Tuesday reported third-quarter net earnings of $9 million or $0.34 per share compared with $5 million or $0.21 per share last year.

Revenues for the quarter were up 10.4% at $155.3 million compared with $140.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.32 per share on revenues of $157 million for the quarter. Analysts' estimates typically exclude special items.

Fiesta is the parent company of the Pollo Tropical and Taco Cabana fast-casual restaurant brands.

During the quarter, comparable restaurant sales increased 5.9% at Pollo Tropical, and 3.5% at Taco Cabana.

For the fiscal year 2015, the company expects mid-single digit comparable restaurant sales growth at Pollo Tropical; low-single digit comparable restaurant sales growth at Taco Cabana; and 26 to 30 new company-owned restaurant openings.