Luby's, Inc. reported unaudited consolidated earnings results for the first quarter ended December 21, 2016. For the quarter, the company reported total sales of $114.409 million against $120.744 million a year ago. Loss from operations was $6.474 million against $1.586 million a year ago. Loss before income taxes and discontinued operations was $6.972 million against $2.399 million a year ago. Loss from continuing operations was $5.514 million or $0.19 per basic and diluted share against $1.739 million or $0.06 per basic and diluted share a year ago. Net loss was $5.586 million or $0.19 per basic and diluted share against $1.811 million or $0.06 per basic and diluted share a year ago. Net cash provided by operating activities was $3.241 million against $6.343 million a year ago. Purchases of property and equipment were $4.980 million against $5.729 million a year ago. Adjusted EBITDA was $1.025 million against $5.678 million a year ago. The decline in EBITDA was a result of the lower store-level profit driven by a $2.5 million decline in same-store sales and also higher labor and operating costs, primarily from labor and operating cost and also from a decline of $0.6 million in lower franchise segment profit and $0.5 million increase in marketing and advertising expenses. Capital expenditures decreased $0.7 million in the first quarter compared to the first quarter fiscal 2016. Capital expenditures were $5.0 million compared to $5.7 million in the first quarter fiscal 2016, as the company began curtailing capital investments.

The company reported asset impairment of $0.287 million for the quarter ended December 21, 2016.