The Steak n Shake Company reported net income of $3.4 million, or $0.21 per share, in the fourth quarter of fiscal 2009. This was a strong improvement from the net loss of $9.2 million, or $0.32 per share, in the same quarter last year.
The Steak n Shake Company also saw a recovery of traffic due to an upturn in the economy. The company reported a same-store sales increase of 10% in the fourth quarter of 2009 over the fourth quarter of fiscal 2008.
The Steak n Shake Company reported cash and equivalents of $51.4 million as of 9/30/2009, compared to debt of $18.5 million. The company also had operating cash flow of $52.3 million in fiscal 2009.
The Steak n Shake Company is undergoing a 1 for 20 reverse stock split effective on December 19, 2009. The intent of the reverse stock split is to prevent excess speculation in the stock by making it less liquid.
The Steak n Shake Company was founded in 1934 in Illinois, and now has 485 restaurants in 22 states.