Cosi reports $6 million fourth-quarter net loss

Cosi reports $6 million fourth-quarter net loss
Tags: Food & Beverage, Franchising & Growth, Sandwich, Trends / Statistics
March 15, 2006

DEERFIELD, Ill. — Cosi Inc. reported Wednesday evening a fourth-quarter net loss of $6.04 million compared with a net loss of $6.58 million during the same period last year.

Cosi said fourth-quarter revenue was $28.6 million, up less than one percent from $28.5 million last year. Analysts polled by Thomson First Call had expected revenue of $29 million. Quarterly comparable-restaurant sales increased 4.1 percent, Cosi said.

For 2006, the restaurant operator expects comparable-restaurant sales growth of 4% to 5%, and pro forma per-share income of 6 cents to 11 cents. Analysts are looking for annual earnings per share of 3 cents.