Panera Bread Q2 net income up

Jul 23, 2008 (Datamonitor via COMTEX) -- PNRA | Quote | Chart | News | PowerRating -- Panera Bread Company has reported a net income of $16 million or $0.52 per diluted share for the second quarter ended June 24, 2008, compared to $13 million or $0.39 per diluted share for the same quarter of 2007.

Total revenue stood at $320.8 million, a 27% increase compared to $252.9 million for the same period of 2007.

For the 26 weeks ended June 24, 2008, net income was $28 million, or $0.93 per diluted share, compared to $28 million, or $0.86 per diluted share, for the same period of 2007. Total revenue was $625.8 million, a 27% increase compared to $492.6 million for the same period of 2007.

Ron Shaich, chairman and CEO of Panera Bread, said: "Our plan for growing margins while maintaining transaction growth and improving return on invested capital is working. We could not be more pleased with our second quarter results and our prospects for the future."

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