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-Revenue $340.5M, up 18.9%. Comp-sales up 3.1%
-Operating margin 21.4%, down 160bps
-EPS 59c, down 4.8%
-Opened 20 restaurants in the quarter
-Approved $100M stock buyback, 7.5% of outstanding shares
-Grappling with challenges of rising food, energy, and transportation costs
-searching for a new ad agency
-macro operating environment will remain difficult in the coming year
-annual pricing agreements for rice, corn, and soy renewed at significantly higher levels than a year ago
-Planning a price increase of 6% in fourth quarter
-Will open 135-145 new restaurants next year
-Q4 comps are still positive, but very low single digits. July was pretty healthy, but September to October continued at a lower level
-They think earnings growth in 2009, but 25% not do-able
-See mid-single digit food inflation in 2009