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Davco Restaurants

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BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | August 2, 1995
DavCo Restaurants Inc. of Crofton said yesterday that its third-quarter earnings were flat despite its acquisition last September of a Tennessee company.The company added only $12,000 to earnings despite a $9.5 million increase in sales during the three-month period that ended July 1. Overall, DavCo reported income of $2.45 million, or 34 cents a share, on revenue of $53.7 million.Deep-discount value pricing by competitors, such as McDonald's Corp., cut into the company's results. DavCo operates the Wendy's restaurant chain.
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BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | September 6, 1997
A group led by the chairman of DavCo Restaurants Inc. has proposed buying the Crofton-based operator of Wendy's and Friendly's restaurants for between $18 and $20 a share -- a premium of more than 34 percent to shareholders -- the company said yesterday.The investment group, headed by Chairman and CEO Ronald D. Kirstien, includes Executive Vice President Harvey Rothstein and Citicorp Venture Capital Ltd., which financed a leverage buyout of DavCo a decade ago. Citicorp Venture Capital owns about 3.1 million shares, or about 48 percent, of DavCo's roughly 6.4 million outstanding shares.
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BUSINESS
May 2, 1995
DavCo Restaurants Inc.DavCoRestaurants Inc. .. .. . ..Ticker .. .. .. .. .Yesterday'sCrofton.. .. .. .. .. . .. Symbol .. .. .. .. .Cls. ..Chg... .. .. .. .. .. .. .. .. DVCO .. .. .. .. .. 13 1/4 bid. - 1/4Period ended4/01 .. .. .. .. .. .. .. .2nd qtr. .. .. .. Year ago ..Chg.Revenue .. .. .. .. .. .. .$48,075 .. .. .. $35,786 .. +34.3%Net Income .. .. .. .. .. .$824 .. .. .. .. .$478 .. .. +72.4%Primary EPS .. .. .. .. .. $0.12 .. .. .. .. $0.07 .. ..+71.4%.. .. .. .. .. .. .. .. .. ..6 mos. .. .. .. Year ago .. .. Chg.Revenue .. .. .. .. .. .. .. $102,038 .. .. .$75,560 .. .. .+35.
BUSINESS
By Liz Bowie and Liz Bowie,SUN STAFF | August 10, 1997
Ronald D. Kirstien dresses the part of the perfectly groomed retailing executive: black shirt, trendy black and white striped tie and gold ring with the initial D.Not the type usually found behind a Wendy's counter asking a truck driver what he wants on his cheeseburger.But don't be surprised if you see him doing just that.Kirstien, chairman of DavCo Restaurants Inc., the world's largest Wendy's franchisee, has a motto: stay in touch with the stores. Don't just visit them, work them."If I go into a store, I will jump right behind the line," he said.
BUSINESS
May 1, 1997
DavCo RestaurantsTicker .... .... .... .... Yesterday'sSymbol .... .... .... .... Cls. .... Chg.DVC .... .... .... .... ..8 3/4 . Unch.Period endedMar. 29 .... .... .... .... 2nd qtr. .... .... Year ago ... .. Chg.Revenue .... .... .... .... $50,450 ... ... .. $45,629 ... ..+10.6%Net Income ... ... ... .... $423 ... ... ... . ($336) ... ... ..--Primary EPS ... ... ... ... $0.06 ... ... .... ($0.05) ... .... --.... .... .... .... .... .... 6 mos. .... .... Year ago ... .. Chg.Revenue .... .... .... .... . $102,479 ... ... $94,210 ... .. +8.8%Net Income .... .... ... .... $1,786 .... .... $918 ... .... +94.6%Primary EPS .... ... ... .... $0.26 ... ... ...$0.
BUSINESS
February 8, 1996
Cryomedical Sciences Inc.G=.... .... .... .... .... Ticker .... ..... ..... Yesterday's.... .... .... .... .... Symbol .... .... Cls. .... .... Chg..... .... .... .... .... CMSI ..... ..... 1 15/16 ..... -3/16Period endedDec. 31 .... .... ..... 2nd qtr. .... .... Year ago .... .... Chg.Revenue .... .... ..... $1,663 ...... .... $4,590 ..... ..... -63.8%Net Income ..... ...... $($631) ..... .... $(289) ...... ..... --Primary EPS ..... ..... $(0.03) ..... .... $(0.01) ..... ..... --..... .... .....
BUSINESS
By Ross Hetrick and Ross Hetrick,Sun Staff Writer | January 25, 1995
Boosted by the acquisition of a Wendy's chain in Nashville, Tenn., and the building of more than a dozen new stores, net income for DavCo Restaurants Inc. climbed by 48.7 percent during its first quarter.However, the Crofton-based Wendy's franchisee saw sales at restaurants open for a year or more decline by 1.3 percent, as competitors offered special price promotions."Our competitors are pricing quite low right now," said Danielle M. Paul, DavCo's spokeswoman. "We're trying to take a stand on not taking that approach at this time."
BUSINESS
By Liz Bowie and Liz Bowie,SUN STAFF | July 31, 1997
Wendy's new pita sandwich helped boost revenue and profit at DavCo Restaurants Inc., the Crofton-based franchisee that operates 229 Wendy's and 34 Friendly's.The company yesterday reported a 32 percent increase in net income for the third quarter, to $2.95 million, or 42 cents a share, from $2.24 million, or 32 cents a share, for the corresponding fTC period last year.The earnings were the best in the company's history and beat analysts' expectations of 36 cents a share.DavCo's same-store sales rose 6.9 percent, with the greatest increase coming in its mid-Atlantic stores.
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | June 19, 1993
DavCo Restaurants Inc., a Crofton-based company that holds exclusive franchise rights for Wendy's fast-food restaurants in the Baltimore-Washington area, plans to go public this summer in a stock offering expected to raise between $31 million and $36.5 million.Catherine Graham, director of finance, said the primary goal of selling shares was to pay down debt so the company could finance growth internally. The company expects to sell about 2.6 million shares at $12 to $14 a share, she said.
BUSINESS
By Liz Bowie and Liz Bowie,SUN STAFF | July 15, 1997
Moving from fast-food burgers to ice cream, DavCo Restaurants Inc. of Crofton yesterday purchased the franchise rights to 34 area Friendly's restaurants from Friendly's Ice Cream Corp. and said it wants to expand rapidly, building at least 74 more restaurants in the next six years.DavCo, which is the world's largest franchisee of Wendy's International Inc., has the option to build as many as 100 new Friendly's in the next decade.The deal, which took effect yesterday, gives DavCo subsidiary FriendCo Restaurants Inc. franchise rights to 34 Friendly's and the management of 14 other stores in Maryland, northern Virginia, the District of Columbia and Delaware.
BUSINESS
By Liz Bowie and Liz Bowie,SUN STAFF | July 31, 1997
Wendy's new pita sandwich helped boost revenue and profit at DavCo Restaurants Inc., the Crofton-based franchisee that operates 229 Wendy's and 34 Friendly's.The company yesterday reported a 32 percent increase in net income for the third quarter, to $2.95 million, or 42 cents a share, from $2.24 million, or 32 cents a share, for the corresponding fTC period last year.The earnings were the best in the company's history and beat analysts' expectations of 36 cents a share.DavCo's same-store sales rose 6.9 percent, with the greatest increase coming in its mid-Atlantic stores.
BUSINESS
By Liz Bowie and Liz Bowie,SUN STAFF | July 15, 1997
Moving from fast-food burgers to ice cream, DavCo Restaurants Inc. of Crofton yesterday purchased the franchise rights to 34 area Friendly's restaurants from Friendly's Ice Cream Corp. and said it wants to expand rapidly, building at least 74 more restaurants in the next six years.DavCo, which is the world's largest franchisee of Wendy's International Inc., has the option to build as many as 100 new Friendly's in the next decade.The deal, which took effect yesterday, gives DavCo subsidiary FriendCo Restaurants Inc. franchise rights to 34 Friendly's and the management of 14 other stores in Maryland, northern Virginia, the District of Columbia and Delaware.
BUSINESS
May 1, 1997
DavCo RestaurantsTicker .... .... .... .... Yesterday'sSymbol .... .... .... .... Cls. .... Chg.DVC .... .... .... .... ..8 3/4 . Unch.Period endedMar. 29 .... .... .... .... 2nd qtr. .... .... Year ago ... .. Chg.Revenue .... .... .... .... $50,450 ... ... .. $45,629 ... ..+10.6%Net Income ... ... ... .... $423 ... ... ... . ($336) ... ... ..--Primary EPS ... ... ... ... $0.06 ... ... .... ($0.05) ... .... --.... .... .... .... .... .... 6 mos. .... .... Year ago ... .. Chg.Revenue .... .... .... .... . $102,479 ... ... $94,210 ... .. +8.8%Net Income .... .... ... .... $1,786 .... .... $918 ... .... +94.6%Primary EPS .... ... ... .... $0.26 ... ... ...$0.
BUSINESS
February 8, 1996
Cryomedical Sciences Inc.G=.... .... .... .... .... Ticker .... ..... ..... Yesterday's.... .... .... .... .... Symbol .... .... Cls. .... .... Chg..... .... .... .... .... CMSI ..... ..... 1 15/16 ..... -3/16Period endedDec. 31 .... .... ..... 2nd qtr. .... .... Year ago .... .... Chg.Revenue .... .... ..... $1,663 ...... .... $4,590 ..... ..... -63.8%Net Income ..... ...... $($631) ..... .... $(289) ...... ..... --Primary EPS ..... ..... $(0.03) ..... .... $(0.01) ..... ..... --..... .... .....
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | August 2, 1995
DavCo Restaurants Inc. of Crofton said yesterday that its third-quarter earnings were flat despite its acquisition last September of a Tennessee company.The company added only $12,000 to earnings despite a $9.5 million increase in sales during the three-month period that ended July 1. Overall, DavCo reported income of $2.45 million, or 34 cents a share, on revenue of $53.7 million.Deep-discount value pricing by competitors, such as McDonald's Corp., cut into the company's results. DavCo operates the Wendy's restaurant chain.
BUSINESS
May 2, 1995
DavCo Restaurants Inc.DavCoRestaurants Inc. .. .. . ..Ticker .. .. .. .. .Yesterday'sCrofton.. .. .. .. .. . .. Symbol .. .. .. .. .Cls. ..Chg... .. .. .. .. .. .. .. .. DVCO .. .. .. .. .. 13 1/4 bid. - 1/4Period ended4/01 .. .. .. .. .. .. .. .2nd qtr. .. .. .. Year ago ..Chg.Revenue .. .. .. .. .. .. .$48,075 .. .. .. $35,786 .. +34.3%Net Income .. .. .. .. .. .$824 .. .. .. .. .$478 .. .. +72.4%Primary EPS .. .. .. .. .. $0.12 .. .. .. .. $0.07 .. ..+71.4%.. .. .. .. .. .. .. .. .. ..6 mos. .. .. .. Year ago .. .. Chg.Revenue .. .. .. .. .. .. .. $102,038 .. .. .$75,560 .. .. .+35.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | September 6, 1997
A group led by the chairman of DavCo Restaurants Inc. has proposed buying the Crofton-based operator of Wendy's and Friendly's restaurants for between $18 and $20 a share -- a premium of more than 34 percent to shareholders -- the company said yesterday.The investment group, headed by Chairman and CEO Ronald D. Kirstien, includes Executive Vice President Harvey Rothstein and Citicorp Venture Capital Ltd., which financed a leverage buyout of DavCo a decade ago. Citicorp Venture Capital owns about 3.1 million shares, or about 48 percent, of DavCo's roughly 6.4 million outstanding shares.
BUSINESS
By Liz Bowie and Liz Bowie,SUN STAFF | August 10, 1997
Ronald D. Kirstien dresses the part of the perfectly groomed retailing executive: black shirt, trendy black and white striped tie and gold ring with the initial D.Not the type usually found behind a Wendy's counter asking a truck driver what he wants on his cheeseburger.But don't be surprised if you see him doing just that.Kirstien, chairman of DavCo Restaurants Inc., the world's largest Wendy's franchisee, has a motto: stay in touch with the stores. Don't just visit them, work them."If I go into a store, I will jump right behind the line," he said.
BUSINESS
By Ross Hetrick and Ross Hetrick,Sun Staff Writer | January 25, 1995
Boosted by the acquisition of a Wendy's chain in Nashville, Tenn., and the building of more than a dozen new stores, net income for DavCo Restaurants Inc. climbed by 48.7 percent during its first quarter.However, the Crofton-based Wendy's franchisee saw sales at restaurants open for a year or more decline by 1.3 percent, as competitors offered special price promotions."Our competitors are pricing quite low right now," said Danielle M. Paul, DavCo's spokeswoman. "We're trying to take a stand on not taking that approach at this time."
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | June 19, 1993
DavCo Restaurants Inc., a Crofton-based company that holds exclusive franchise rights for Wendy's fast-food restaurants in the Baltimore-Washington area, plans to go public this summer in a stock offering expected to raise between $31 million and $36.5 million.Catherine Graham, director of finance, said the primary goal of selling shares was to pay down debt so the company could finance growth internally. The company expects to sell about 2.6 million shares at $12 to $14 a share, she said.
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