ORANGE COUNTY EARNINGS
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American Restaurant Group Inc.: The Newport Beach owner of restaurant chains reported net income for the second quarter of $800,000. That contrasts with a net loss of $6 million for the like period last year, which included a noncash charge of $4.1 million for costs associated with closed restaurants, primarily in the Grandy’s division. Revenue declined 2% to $110.9 million, because of the effect of closing poorly performing restaurants.
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