Ruth's Hospitality narrows 3Q loss

Ruth's Hospitality Group Inc. said Friday that improving sales at its steakhouses in recession-roiled California and Florida helped the company narrow its losses in the third quarter.

For the quarter ended Sept. 26, Ruth's reported a loss of $477,000, or 1 cent a share, compared with a loss of $954,000, or 4 cents a share, in the prior-year period. Revenue rose 4.9 percent, to $79.8 million from $76.1 million, with increases in both restaurant sales and franchise income.

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