Even if charge was 60 cents after tax, we are talking a drop in EPS from 54 cents to 16 cents excluding the charge with similar sales levels. I don't know what the $310,000 (6 cents pre-tax) thing was for stock given to the CEO for advertising (sounds a little weird). That explains more loss, but on the other hand opening costs dropped over $250,000 which should have helped FRS. This is a real stinker. Golden Corral must just be imploding, hence the desire to sell. I just wonder what they can get for their buildings in what has to be a bleak real estate market. As thinks stand, I suspect they may only be able to salvage $15 to $20 million max on the whole Golden Corral business, which then begs the question of what the Frisch's business is worth and how big a hole the pension is in. It will be interesting to get a good look at the 10-Q statement. I thought this might be a mid 20s stock, but am having definite misgivings. Any long time followers out there with some insight?
check the balance sheet ... where did all the cash come from? Did they sell Golden Corrals? Nine fifty is a stunning dividend all of a sudden, plus buying back stock. I am not a current stockholder, but I have followed the stock for years. Can someone enlighten me?