Luby's posts 3Q profit, improved sales

Luby's Inc. said it swung to a profit in the third quarter from a year-ago loss because of improving sales, more catering business and reduced costs.

The Houston-based parent company to 96 cafeteria restaurants reported net income of $730,000, or 3 cents per share, for the May 5-ended third quarter. In last year's third quarter, Luby's posted a net loss of $1.1 million, or 4 cents per share.

Revenue for the latest quarter declined 5.3 percent to $57.2 million, which reflected lo

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