When do you hear the wonderful news? Bankruptcy filing?
granite needs to do the following:1) continue to increase operating efficiencies to lower overhead costs2) hold with the current number of stores until the economy / sales pick up and the company can safely start / continue expansion.3) continue to maintain the current food and beer costs. They raised the food prices twice in the last year.4) continue promos for the seasonal beers.-Just my two cents.
They missed by a mile again. What a joke!
This actually isn't that bad.Total loss was (4,251,772)Add back depreciation 1,640,343 Add back one-time expenses 1,119,545 (non-cash)Total cash burn = (1,491,884)If they really do cut food costs by $2,000,000 per year that takes would take the run rate down to a quarterly loss of ($991,884) or 6 cents per share. That amounts to about 4% of revenues.I'm not saying that they're in good shape, but I'm not checking the paper for chapter 11 filings anymore (until 2nd quarter next year).