GB Foods Corp.: The Newport Beach operator...
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GB Foods Corp.: The Newport Beach operator and franchiser of Green Burrito fast food restaurants reported a third-quarter net loss of $190,000, or 3 cents a share, which included a one-time charge of $86,000 related to the relocation of the corporate office and a charge of $38,000 related to the disposition of seven company restaurants.
In the third quarter last year, the company had a net loss of $222,000, or 4 cents a share. Revenue declined 5% to $1.9 million from $2 million.
The company posted a net loss of $1.7 million, or 28 cents a share, for the nine-month period, compared with a year-earlier net loss of $791,000, or 16 cents a share.
Revenue rose 8% to $5.3 million from $4.9 million.
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