Luby's, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended August 30, 2017. For the quarter, the company's total sales were $86,589,000 compared with $97,729,000 a year ago. Loss from operations was $3,523,000 compared with $1,091,000 a year ago. Interest income was $2,000 compared with $2,000 a year ago. Loss before income taxes and discontinued operations was $4,207,000 compared with $1,475,000 a year ago. Loss from continuing operations was $4,069,000 or $0.14 per basic and diluted share compared to $7,789,000 or $0.27 per basic and diluted share a year ago. Net loss was $4,101,000 or $0.14 per share basic and diluted share compared to $7,802,000 or $0.27 per share basic and diluted share a year ago. Adjusted EBITDA was $3,037,000 compared to $5,608,000 a year ago. Capital expenditures were $2.4 million, compared to $3.9 million in the fourth quarter fiscal 2016.

For the full year, the company's total sales were $376,031,000 compared with $402,639,000 a year ago. Total same-store sales decreased 3.4%, including a 3.3% same-store sales decrease at the company cafeterias and a 1.8% same-store sales decrease at Fuddruckers. Hurricane Harvey reduced company same-store sales by approximately 1.0% and reduced Fuddruckers same-store sales by approximately 0.6%. Loss from operations was $17,469,000 compared with $3,324,000 a year ago. Interest income was $8,000 compared with $4,000 a year ago. Loss before income taxes and discontinued operations was $20,358,000 compared with $5,381,000 a year ago. Loss from continuing operations was $22,796,000 or $0.77 per basic and diluted share compared with $10,256,000 or $0.35 per basic and diluted share a year ago. Net loss was $23,262,000 or $0.79 per basic and diluted share compared with $10,346,000 or $0.35 per basic and diluted share a year ago. Net cash provided by operating activities was $9,640,000 compared with $13,859,000 a year ago. Purchases of property and equipment were $12,502,000 compared with $18,253,000 a year ago. Adjusted EBITDA was $13,335,000 compared to $22,058,000 a year ago. The decline in EBITDA was primarily the result of a $12.5 million reduction in store level profit, partially offset by higher Culinary Contract Service segment profit.

The company expects capital expenditures to be under $12 million in the current fiscal 2018 year as they continue to invest and maintain the attractiveness and functionality of their existing restaurants and to continue to upgrade their IT infrastructure.