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Ruby Tuesday Shares Fall On Weaker Earnings

Ruby Tuesday Inc. shares fell as much as 3% in after-hours trade Wednesday after the restaurant chain reported fiscal third-quarter results that came in below analysts' expectations. For the three months ended March 5, 2013, net profit fell to of $4.7 million, or 8 cents a share, from $6.9 million, or 11 cents a share, a year ago. Adjusted to exclude one-time items, the profit was 10 cents a share. Analysts surveyed by FactSet had been expecting an adjusted profit of 11 cents a share. Revenue for the quarter fell to $307.3 million from $320.7 million, also less than the $311.9 million analysts expected. Same-store sales fell 2.8% from a year ago. Ruby Tuesday shares were last down 2.6% at $7.95, cutting into a 3.8% rise for the stock since the start of the year.Copyright © 2013 MarketWatch, Inc....

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