Naugles Inc. said that, contrary to its...
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Naugles Inc. said that, contrary to its earlier predictions, it now expects to report a loss from operations for the fourth quarter of its 1985 fiscal year, which ended June 27. For the fourth quarter of the prior fiscal year, Naugles reported net income of $105,000.
Audited loss figures for the just--completed fourth quarter will be announced Sept. 1, said Wayne Withers, the Fullerton--based fast food chain’s chief financial officer.
When Naugles reported a loss of $1.7 million for the first nine months of fiscal 1985, the company said it expected to return to profitability in the fourth quarter. But the sales recovery in the fourth quarter was not as strong as anticipated because of continued softness within the entire restaurant industry, company officials said.
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