Same store sales, a key industry measure, grew 2.8 percent marking the 10th consecutive quarter of positive growth.

"We are pleased with the progress that we are achieving," said Peter Dunn, Steak n Shake's president and CEO, in a release. "We are committed to delivering consistent and sustained earnings growth for our shareholders as we realize the full potential of the Steak n Shake brand."

Revenues for the quarter climbed 13.2 percent to $147.9 million as compared to $130. 6 million for the same period a year ago. Net earnings for the quarter were 28 cents per diluted share, a one-cent increase from last year's comparable quarter.

During the quarter, the company opened four new restaurants in Florida, Ohio and Indiana. Steak n Shake officials said they will continue to aggressively grow the chain, opening 19 new restaurants by the year's end and at least 26 more in 2006.

The company reaffirmed its diluted per share guidance for the year in the range of $1.08 to $1.11

Source:Indystar
Author: Madhusmita Bora