LAKE FOREST, Calif. (AP) _ Del Taco Restaurants Inc. (TACO) on Monday reported a first-quarter loss of $102.5 million, after reporting a profit in the same period a year earlier.
The Lake Forest, California-based company said it had a loss of $2.76 per share. Losses, adjusted for one-time gains and costs, were 1 cent per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The restaurant chain posted revenue of $109.8 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $105.6 million.
Del Taco shares have decreased 34% since the beginning of the year. In the final minutes of trading on Monday, shares hit $5.23, a drop of 50% in the last 12 months.