LAKE FOREST, Calif. (AP) _ Del Taco Restaurants Inc. (TACO) on Monday reported a third-quarter loss of $7.7 million, after reporting a profit in the same period a year earlier.
The Lake Forest, California-based company said it had a loss of 21 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 10 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The restaurant chain posted revenue of $120.2 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $120.4 million.
Del Taco expects full-year earnings in the range of 44 cents to 47 cents per share, with revenue in the range of $512 million to $515 million.
Del Taco shares have decreased 4% since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.59, a drop of 8% in the last 12 months.