Ruby Tuesday (NYSE: RT) directors Steven Becker and Bernard Lanigan recent bought shares of RT common stock.
Becker, who has been director of Ruby Tuesday since 2011, bought 222,800 shares of RT common stock. Bernard Lanigan, who has served as director of Ruby Tuesday since 2001, bought 134,000 shares of RT common stock.
The insider purchases came a few days after Ruby Tuesday announced its fourth quarter and fiscal 2012 financial results.
For the fourth quarter ended June 5, 2012, Ruby Tuesday reported a 4.6% decline in same-restaurant sales at company-owned Ruby Tuesday restaurants. RT’s net loss for the fourth quarter of fiscal 2012 was $5.8 million. Excluding one-time items, the company had net income of $13.3 million.
RT’s total revenue for the fourth quarter rose 2.9%. Same-restaurant sales for domestic franchise restaurants dropped 7.3%.
Sandy Beall, founder, Chairman and CEO of Ruby Tuesday said RT’s same-restaurant sales for the fourth quarter were roughly in-line with expectations as the company pared back its level of couponing while continuing to test its television marketing programs. Beall said that RT’s earnings performance for the quarter excluding one-time items was slightly below expectations primarily due to unfavorable year-end tax adjustments, higher health plan costs, and higher interest expense resulting from the company’s high yield bond offering.
RT shares are currently trading around $6.40. In Friday’s trading session, the stock gained 2.40%. Year-to-date, the stock fell 7.39%, compared to a gain of 10.60% for the S&P 500.
Ruby Tuesday operates and franchises casual dining restaurants in the U.S., Guam and 14 other countries.
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