Elmer's also announced this week that, in a separate transaction, it has bought back a franchised Elmer's restaurant in Vancouver, Wash. The transactions follow the recent opening of two new franchised Elmer's restaurants in Woodburn, Ore., and Nampa, Idaho.
Elmer's now owns and operates 10 Elmer's restaurants and franchises 22 restaurants in six western states. The publicly traded company also owns and operates five Mitzel's American Kitchen restaurants in Washington and 10 deli-style restaurants in Oregon.
Elmer's says it expects net income and earnings per share for its fourth quarter ended April 1, 2002, to exceed the year ago period. Results will be announced on or around June 14, 2002. The news had shares of Elmer's trading at a 52-week high of $7.25 apiece on Monday afternoon. The company's share price ended the day at $6.90. The company's previous 52-week high is $6.55 per share.
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