Ryan's Q2 Hit Hard

GREER, SC-Ryan’s Restaurant Group Inc. hit a roughpatch during the second quarter 2005. Revenues,same-store sales and customer counts were all down forthe restaurant operator, as were margins. During thequarter, Ryan’s also was hit with nearly $6 million incharges.

“Priority number one at this company is gettingsame-store sales up,” said Fred Grant, Ryan’s seniorvice president of finance, treasurer and secretary,during the chain’s earnings conference call. For thesecond quarter, same-store sales were down 4% andcustomer count was down 7%.

The chain posted sales of $215.5 million for thesecond quarter, a decrease for $216.5 for the sameperiod in 2004. Net earnings decreased 56% to $6.3million compared to $14.2 million for the secondquarter in 2004. Earnings per share dropped to 15cents from 33 cents in 2004.