8/31/2009 - Benihana Inc. (NASDAQ:BNHN) reported fiscal Q1 EPS of 5 cents, ex-items, short of the consensus estimates of 10 cents per share. Revenues for the quarter rose 2% to $95.7 million, missing the consensus estimates of $97.3 million. The company sees full-year EPS of 40 cents to 45 cents, vs. the consensus estimates of 46 cents per share. They see revenues of $305 to $310 million, vs. the consensus estimates of $323.8 million. Company-wide same-store restaurant sales were (10.1%), comprised of (13.1%) at Benihana Teppanyaki, 3.5% at RA Sushi, and (14.8%) at Haru.

CEO Richard C. Stockinger said, "We are operating our business in perhaps the most difficult environment we have seen in decades, and the economic downturn continues to take its toll on our industry. As previously announced, we have formulated a comprehensive strategy to rebuild sales momentum through the Benihana Renewal Program and are confident that over time, we can improve guest perceptions of Benihana Teppanyaki as it relates to five key attributes of the dining experience: image, value, quality, consistency, and lack of Japan. We are improving the quality of the food and beverages, raising the level of our service standards, and creating more awareness and closer relationships with our guests so that they will celebrate their special occasions as well as their more routine 'dining-out' experiences with us. With the successful implementation of these initiatives, we are confident that we will pull through and emerge with a much stronger Benihana brand."

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