BJ's Restaurants 2Q profit falls 12 percent

Restaurant operator BJ's Restaurants Inc. on Thursday said its second-quarter profit fell 12 percent, as increased costs outpaced revenue growth amid a challenging retail environment.

Net income declined to $2.9 million, or 11 cents per share, from $3.3 million, or 12 cents per share, a year ago.

Revenue grew 16 percent to $92.2 million from $79.3 million, in the year-ago period.

Meanwhile, total costs and expenses surged 17 percent to $88.6 million from $75.6 million, in the 2007 quarter.

Analysts polled by Thomson Financial expected a profit of 11 cents per share, on sales of $94.8 million.

Same-store sales in the quarter rose 0.6 percent, despite the challenging U.S. economy, and higher costs. Same-store sales, or sales at stores open at least a year, are a key measure of retailer or restaurant performance, because they measure growth at existing stores rather than from newly opened ones.

Restaurants have been hard hit amid the softer economy as consumers are cutting back on spending.

BJ's shares lost 8 cents to $9.65 in aftermarket trading, after closing the regular session down 33 cents, or 3.3 percent, at $9.73.