Hamburger Hamlet Loses $327,000 in 1st Quarter
- Share via
Hamburger Hamlet Restaurants Inc. reported a loss of $327,000 in its first quarter compared with a profit a year earlier, while revenues remained flat.
The restaurant chain, based in Sherman Oaks, said its revenues were $17.44 million for the quarter that ended March 26, up slightly from revenues of $17.38 million a year earlier. A year ago, the company posted a first-quarter profit of $466,000.
The company attributed the poor showing to the continued weak economy in Southern California and the loss of some business at restaurants damaged by the Northridge earthquake. Hamburger Hamlet operates 35 restaurants, 22 of them in Southern California.
The quarterly loss included a provision of $355,000 to cover severance payments to Thomas A. McFall, the company’s former chief executive, who resigned recently after disagreements with some shareholders over the company’s direction.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
