IRVING, Texas — CEC Entertainment, owner of Chuck E. Cheese's Pizza, reported strong revenue and profit for the third quarter ended Oct. 1, 2006.
According to a regulatory filing, comparable-store sales for the period rose 5 percent, which pushed revenue up 8.4 percent to $194.7 million from $179.6 million in the comparable period in 2005. Net income rose to $17.5 million, up 17 percent from $14.9 million last year.
"We believe the operating results reflect the success of our strategic changes that allow us to tighten our operational focus on increasing sales in our existing restaurants," said Richard Frank, chairman and chief executive of CEC. "Our sales momentum has continued into the fourth quarter and we are optimistic about the continued long-term success of maintaining a narrow and targeted focus on delivering an excellent experience for our guests and solid performance for our shareholders."