Country Style Cooking Sees Q1 Revenue To Exceed Upper End Of Prior Outlook

(RTTNews) - Country Style Cooking Restaurant Chain Co., Ltd (CCSC) said that it now anticipates revenue for the first quarter of 2014 to beat the top range of its previous guidance of RMB333 million - RMB 343 million or $55.0 million -$56.7 million, compared to RMB307.2 million or $49.5 million in the first quarter of 2013, representing year-over-year growth of at least 11.6%.

Same store sales growth in the first quarter of 2014 is expected to be in positive low-single digits. It expects improved operating margin and positive net income.

For the first quarter ended March 31, 2014, the company opened a net total of 10 restaurants, bringing the total net restaurant count to 303, compared to a total restaurant count of 262 as of March 31, 2013. The new openings include 3 restaurants under the brand name "Mr. Rice."

The company plans to report its first quarter 2014 results in mid May.