UPDATE 1-LRI Holdings files for up to $200 mln IPO

* To use proceeds to repay debt

* Expects to trade on Nasdaq Global Markets under symbol
“LGNS”

June 7 (BestGrowthStock) – Casual dining chain LRI Holdings Inc.
(LGNS.O: ) filed with U.S. regulators on Monday to raise up to
$200 million in an initial public offering.

For a period of 39 weeks ended May 2, the company said net
profit attributable to common stockholders was $6.2 million or
$6.39 a share, compared with a loss of $10.7 million or $11.06,
in the same period last year.

The Nashville, Tennessee-based company said it reduced the
level of new restaurant openings to eight in 2009 and nine in
2010 from an average of 15, to preserve cash and strengthen its
financial position.
“We expect that discretionary spending will remain at reduced
levels over the near term,” said the company, which plans to
open 15 restaurants in 2011.

The underwriters on the offering are being led by Credit
Suisse Securities LLC.

Company is expected to trade on Nasdaq Global Select Market
under the symbol “LGNS.”

As of May, the restaurant base of the company is 211, of
which its owns and operate 185 restaurants, while 26 are
operated by two franchisees.

Stock Market News

(Reporting by Archana Shankar in Bangalore; Editing by Jarshad
Kakkrakandy)

UPDATE 1-LRI Holdings files for up to $200 mln IPO