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Benihana profit drops as costs rise

MIAMI Benihana Inc. blamed declining traffic and rising costs for a nearly 48-percent drop in first quarter profit, but the parent of three Japanese-style concepts said it still expected to hit its full-year earnings target.

For the quarter ended July 20, Benihana's net income was $2.2 million, or 12 cents per share, compared with year-ago income of $4.2 million, or 25 cents per share. Revenue for the latest quarter rose 5 percent, to $94.5 million, the company

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