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BATON ROUGE, LA. - After a first-quarter dive into red ink, Piccadilly Cafeterias Inc. emerged in the second quarter of fiscal 2000 with earnings of $1.48 million.
The second-quarter gain, however, failed to lift the bottom line for the sixmonth period, ended Dec. 31,1999, back up to positive levels. The loss through the first half of fiscal 2000 came in at $157,000, down from a profit of $3.86 million in the same period a year earlier.
"Efforts during the quarter focused on two fronts: Return the company to profitability and reverse declining sales trends," said Piccadilly president and chief executive Ronald A. LaBorde.
He added that market-building tests are under way in the company's Florida market, where a...