Del Taco Plots Changes Under Jack in the Box - Orange County Business Journal ocbj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ocbj.com Daily Mail and Mail on Sunday newspapers.
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Del Taco Restaurants Inc. (NASDAQ: TACO) closed its first quarter on a high note, with year-over-year increases in revenue and net income. And to help ensure encore performances for the next quarters, the company is reinventing an old favorite while taking a not-subtle jab at one of its prominent competitors.
Q1 Results: The Lake Forest, California-based company operates roughly 600 restaurants across 16 states. In its fiscal first quarter results published this week, Del Taco generated $115.5 million in total revenue, up 5.2% year-over-year, while company-operated restaurant sales were $103.6 million, a 3.2% growth one year earlier.
Also in the first quarter, net income totaled $2.6 million, or $0.07 per diluted share, compared to a net loss of $102.5 million, or $2.76 per diluted share, in the fiscal first quarter of 2020. Adjusted net income was $2.5 million, or $0.07 per diluted share, compared to $300,000, or $0.01 per diluted share, one year earlier.