HOUSTON, July 29 /PRNewswire-FirstCall/ -- Luby's, Inc. (NYSE: LUB) ("Luby's") held a conference call on Thursday, July 29, to discuss its acquisition of Fuddruckers. This press release corrects the estimated net income before income taxes for Fuddruckers discussed on the call and certain reconciling items. Luby's currently estimates that, in Fiscal 2011, Fuddruckers will have earnings before interest, taxes, depreciation and amortization, or EBITDA, between $8.0 million to $10.0 million and net income before income taxes of between $2.0 million to $4.0 million. The reconciling items between Fuddruckers' estimated EBITDA, a non-GAAP financial measure, and Fuddruckers estimated net income before income taxes are $2.0 million in estimated interest expense, $4.0 million in estimated depreciation and amortization.

About Luby's, Inc.

Luby's, Inc. operates restaurants under the brands Luby's, Fuddruckers and Koo Koo Roo. Its 96 Luby's restaurants are located throughout Texas. Its Fuddruckers restaurants include 56 company-operated locations and 130 franchises across the United States and in various countries. Its 3 Koo Koo Roo California Kitchens are located in southern California. Luby's Culinary Services provides food service management to 17 sites consisting of healthcare, higher education and corporate dining locations.

This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical fact, are "forward-looking statements" for purposes of these provisions, including estimates of EBITDA, net income and related reconciling items and other statements regarding Luby's plans with respect to Fuddruckers. These statements involve risks and uncertainties that could cause actual results to differ materially depending on a variety of important factors. Factors that might cause or contribute to such differences include, but are not limited to, the risk factors detailed in our annual reports on Form 10-K and quarterly reports on Form 10-Q that we file with the Securities Exchange Commission ("SEC") from time to time. Our SEC filings are available from us and are also available at the SEC's website at http://www.sec.gov. In addition, factors that we are not currently aware of could harm our future operating results. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to make any revisions to the forward-looking statements or to reflect events or circumstances after the date of this press release.

    For additional information contact:

    DRG&E / 713-529-6600
    Ken Dennard / Sheila Stuewe
    Investor Relations

SOURCE Luby's, Inc.