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Rubio’s Shareholders Get 2 Cents Worth

Rubio’s Restaurants Inc. of Carlsbad, which operates and franchises restaurant chain Rubio’s Fresh Mexican Grill, announced first quarter 2007 earnings for the period ended April 1.

Revenues for the first quarter were up 17 percent to $41 million from $35.1 million in the year-ago period, pushed up by a 17 percent jump in restaurant sales.

Franchise and licensing revenues meanwhile decreased from $56,000 to $33,000.

Net income held steady at $196,000, nudging up from $192,000 for the first quarter 2006. Earnings per diluted share were 2 cents for both periods.

Rubio’s is traded on the Nasdaq as RUBO and closed on May 9 at $12.80, down 11 cents from the previous session.

, Andy Killion

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