Country Style Cooking Sees Higher Q4 Operating Profit And Net Income

(RTTNews) - Country Style Cooking Restaurant Chain Co., Ltd (CCSC) said that it expects to report improved year-over-year operating profit and net income in the fourth quarter of 2013.

For the fourth-quarter, the company currently anticipates slightly beating the top range of its previous revenue guidance of RMB 325 - RMB 335 million or $53.2 million - $54.8 million, compared to RMB296.5 million or $47.6 million in the fourth quarter of 2012, representing year-over-year growth of at least 13%.

Same store sales growth in the fourth quarter of 2013 is expected to be in the mid-single digits.

For the fourth quarter ended December 31, 2013, the Company opened 20 restaurants, bringing the total net restaurant count to 293, compared to a total restaurant count of 256 as of December 31, 2012. The new openings include 15 restaurants under the brand name "Country Style Cooking" and 5 under the brand name "Mr. Rice."

For the full year of 2013, 59 new stores were opened.

The comapany plans to report its fourth quarter and fiscal year 2013 results in late February.