Luby's Inc. announced unaudited financial results for the first quarter fiscal 2006, which ended on November 23, 2005. Same-store sales increased 6.9 percent over the first quarter fiscal 2005 and the company generated net income of $2.2 million and reduced outstanding debt by $3.5 million in the first quarter to $10.0 million. Sales in the first quarter fiscal 2006 were $73.3 million, an increase of 6.9 percent compared to the first quarter fiscal 2005. All of the company's sales during the first quarter were characterized as same-store sales. Fiscal 2005 was a 53 week year for Luby's, which caused a calendar shift comparison for fiscal year 2006.
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Luby's announces earnings
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