Landry's reported net income of $4.6 million

Mar 31, 2009 5:02 PM
Earnings by Ray Poirier | Helped by a gain of $11.5 million in insurance proceeds, Landry’s Restaurants Inc. (LNY), owners of the Golden Nugget casinos in Las Vegas and Laughlin, Nevada, reported net income of $4.6 million or $0.30 per share for the fourth fiscal quarter of 2008.

This compared with a net loss of $6.6 million or $0.41 per share in the prior year.

Excluding the special items, however, earnings from continuing operations were $0.30 per share compared with a loss of $0.10 per share a year earlier.

For the fiscal year, the company said earnings from continuing operations were $13.5 million, down from the $27.7 million reported at the end of 2007.