Cosi Inc. reports loss

DEERFIELD - Restaurant chain Cosi Inc. reported a net loss for the second quarter of $1,729,000, or $. 04 per basic and diluted common share. That compares to a net loss of $7,401,000, or $. 19 per share, for the 2007 second quarter. That equates to a 77 percent reduction on a year-over-year basis, the company said in a statement. Excluding the effect of discontinued operations in both quarters, Cosi's net loss in the 2008 and 2007 second quarters was $1,699,000, or $. 04 per share, and $4,039,000, or $. 10 per share, respectively. The company's total revenues for the 2008 second quarter grew 3.6 percent to $36,723,000 from $35,448,000 in the 2007 second quarter. The company expects franchisees to open about 25 stores in 2008. Cosi has 102 company-owned and 43 franchise restaurants in 18 states, the District of Columbia and the United Arab Emirates.