Luby's swings to profit in 4Q

Restaurant sales boosted by Fuddruckers acquisition

Luby's Inc. swung to a profit in the fourth quarter from a year-ago loss, aided by increased sales from its acquisition of the Fuddruckers gourmet burger chain.

For the quarter ended Aug. 25, Luby's reported net income of $516,000, or 2 cents per share. That compares with a loss of $23.3 million, or 83 cents per share, in last year's fourth quarter, when the company booked heavy impairment charges related to the closure of 25 underperforming stores.

Revenue in the latest quarter

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