American Restaurant Group Inc.: The Newport Beach-based...

American Restaurant Group Inc.: The Newport Beach-based operator of several restaurant chains said third-quarter revenue dropped 5.4% to $96.4 million from $101.8 million a year ago. The company attributed the decrease to the closing of several poorly performing restaurants and the conversion of seven company-owned Grandy’s restaurants to franchises. American Restaurant reported that a common measure of cash flow--earnings before interest, taxes, depreciation and amortization--totaled $6 million, virtually unchanged from a year ago.