The Spectra Group of Great Restaurants Inc.
TSX : SPA
TSX : SPA.A

The Spectra Group of Great Restaurants Inc.

October 20, 2006 14:16 ET

The Spectra Group of Great Restaurants Inc.: Second Quarter Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 20, 2006) - The Spectra Group of Great Restaurants Inc. (TSX:SPA)(TSX:SPA.A) announces its financial results for the Second Quarter ended September 17, 2006.

For the twelve week period ended September 17, 2006 Earnings Before Interest, Income Taxes, Depreciation and Amortization (EBITDA) from continuing operations was $1,416,000 ($0.18 per share) compared to $1,199,000 ($0.15 per share) in the prior year. Earnings from continuing operations were $723,000 ($0.09 per share) compared to $494,000 ($0.06 per share) in the prior year.



Summary of Financial Results ($000's except per share amounts)

12 Weeks Ended: 24 Weeks Ended:
---------------------- ----------------------
Sep. 17/06 Sep. 11/05 Sep. 17/06 Sep. 11/05
Total sales
from continuing
operations 11,170 10,408 20,745 18,938
---------- ---------- ---------- ----------
Earnings from
continuing
operations
before interest,
taxes, and
amortization 1,416 1,199 2,182 1,570
---------- ---------- ---------- ----------
EBITDA per share $0.18 $0.15 $0.28 $0.21
---------- ---------- ---------- ----------
Earnings from
continuing
operations 723 494 1,004 458
Earnings(loss)
from discontinued
operations, net of
income taxes (56) (92) 4 (48)
---------- ---------- ---------- ----------
Net earnings 667 402 1,008 410
---------- ---------- ---------- ----------
Earnings per share
from continuing
operations $0.09 $0.06 $0.13 $0.06
Earnings per share $0.08 $0.05 $0.13 $0.05
Weighted average
shares outstanding 7,857 7,807 7,843 7,586


The Spectra Group of Great Restaurants is a multi-concept restaurant group currently operating in British Columbia. Headquartered in Vancouver, Spectra has a system total of 21 restaurants and 85 express locations, including the Bread Garden, the Boathouse, Red Door, and, under license from Brinker International, Romano's Macaroni Grill.

Spectra's shares trade on the Toronto Stock Exchange under the symbols "SPA" and "SPA.A"

ON BEHALF OF THE BOARD OF DIRECTORS:

PETER J. BONNER, Chief Executive Officer

The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.

Contact Information

  • The Spectra Group of Great Restaurants Inc.
    Richard C. Benmore
    Chief Financial Officer
    (604) 714-6500
    (604) 714-6540 (FAX)
    or
    The Spectra Group of Great Restaurants Inc.
    For General Investor Information
    (604) 714-6584