American Restaurant Reports Lower Revenue

American Restaurant Group Inc. said Thursday that its fourth quarter revenue was lower than the year before due to the closure of poorly performing restaurants and sales declines at its Grandy’s restaurant chain.

The Newport Beach owner of restaurant chains reported revenue of $102.1 million in the period ended Dec. 28, a 4% drop from to $106.8 million in the fourth quarter of 1997.

American Restaurant owns Stuart Anderson’s Black Angus restaurants, as well as Spoons, National Sports Grill and Grandy’s.

Sales at Black Angus restaurants open for at least a year were up 0.6% compared to the year before, the company said.

American Restaurant reported that a common measure of cash flow--earnings before interest, taxes depreciation and amortization--dipped to $7.2 million from $7.3 million during the comparable period the year before.