Good Times Restaurants: Serves up quarterly profit

Good Times Restaurants

16/12/2020 13:08

** Shares of the restaurant operator  GTIM.O  jump 18% to
$2.30 premarket, set to hit one-and-a-half year high
    ** Stock among top gainers across U.S. exchanges before the
bell
    ** Reports Q4 net profit vs net loss a year earlier, in part
helped by financial support under the CARES Act  urn:newsml:reuters.com:*:nBw70ySCza
    ** Quarterly net revenue dips 
    ** In spite of very significant concerns about liquidity and
operating cash flow at the outset of the COVID-19 pandemic, a
combination of quick decision-making and CARES Act relief helped
fight through the initial blows - CEO
    ** Balance sheet improved modestly compared to the end of
fiscal 2019, says company
    ** Refrains from providing 2021 forecast due to uncertainty
related to the pandemic
    ** Stock up about 23% in 2020, set for its first annual
share gain in six years

 (Reporting by Medha Singh in Bengaluru)
 ((medha.singh@thomsonreuters.com))