COSI announced their 1Q06 earnings after the market’s closing bell. The tally: a net loss of $3.9 million (a loss of about 10 cents per share) compared with a loss of $2.8 million for 1Q05.
They did note, however, that they generated a positive cash flow from operations of $200,000 in 1Q06, whereas they burned about $5.5 million in 1Q05.
COSI has announced that their 1Q06 results conference call will be this Thursday, May 11, at 8:30am Eastern. 1Q06 earnings will be released after the market’s closing bell on Wednesday.
You can find more details about the conference call in this announcement.
In Tasty Turnarounds?, The Motley Fool pans COSI, both based on their lack of earnings and poor balance sheet. They note that COSI will still lose a comfortable amount of money this year, and that COSI’s price is rich, with many years of growth already priced in.
COSI announced the appointment of Michael O’Donnell to their Board of DIrectors. They also announced that Edna Morris and Terry Diamond will be stepping down.
Mr. O’Donnell’s more than 20 years of industry experience includes being President and CEO of Sbarro, Inc. as well as with an executive with Outback Stakehouse.
COSI just announced a 4Q05 net loss of 16 cents per share compared with a 4Q05 loss of 21 cents per share.
