COSTA MESA, Calif.— Comparable-store sales at EPL Intermediate Inc., parent company of El Pollo Loco Inc., were flat for the company's third quarter ended Sept. 30, 2008, compared with the same period of 2007. Year-to-date same-store sales increased 1.1 percent compared to the prior year same period.
Operating revenues for the quarter were $74.9 million, up 4 percent compared with operating revenues of $72.3 million for the same period last year. Operating revenues include sales at both company-operated stores and franchise revenues.
Year-to-date operating revenue was $222.4 million, up 7 percent compared with operating revenue of $208.8 million for the same period last year.
Net income for the quarter was $48,000 compared with a net loss of $4 million for the 2007 third quarter. For the year to date, the company recorded a net loss of $6 million compared with a net loss of $2.4 million for the first nine months of last year.
The loss was attributed largely to a $10.7 million charge related to the settlement of litigation between El Pollo Loco Mexico, S. A. de C.V. and El Pollo Loco Inc. The settlement was paid by Chicken Acquisition Corp., the company's indirect shareholder, and was treated as a capital contribution to the company.
