APPB Applied Biosciences Corporation (CE)

Applebee�s International, Inc. (Nasdaq:APPB) today reported comparable sales for the five-week period ended July 1, 2007. System-wide domestic comparable sales decreased 0.3 percent for the June period, as did comparable sales for domestic franchise restaurants. Comparable sales for company restaurants decreased 0.2 percent, reflecting a decrease in guest traffic of between 3.0 to 3.5 percent, combined with a higher average check. As previously announced, a price increase of approximately 1.3 percent was taken at the beginning of the June period. System-wide domestic comparable sales for the second quarter of 2007 decreased 0.9 percent. Comparable sales for company restaurants decreased 1.2 percent and domestic franchise restaurant comparable sales decreased 0.8 percent for the quarter. System-wide domestic comparable sales for the year-to-date period through June have decreased 2.5 percent, with domestic franchise restaurant comparable sales down 2.4 percent and company comparable restaurant sales down 2.9 percent. Diluted earnings per share for the second quarter of 2007 are expected to be approximately $0.30, including discontinued operations, impairment and other restaurant closure costs, and strategic alternative expenses of approximately $0.03 per share. The company will release complete second quarter 2007 results after the market closes on August 1, 2007. A conference call will be held on Thursday, August 2, 2007, at 10:00 am. Central Time (11:00 a.m. Eastern Time). The conference call will be broadcast live over the Internet and a replay will be available shortly after the call on the �Investors� section of the company�s website (www.applebees.com). Applebee�s International, Inc., headquartered in Overland Park, Kan., develops, franchises and operates restaurants under the Applebee�s Neighborhood Grill & Bar brand, the largest casual dining concept in the world. As of July 1, 2007, there were 1,943 Applebee�s restaurants operating system-wide in 49 states, 16 international countries, and one U.S. territory, of which 508 were company-owned. Additional information on Applebee�s International can be found at the company�s website (www.applebees.com). Certain statements contained in this release are forward-looking and based on current expectations. There are several risks and uncertainties that could cause actual results to differ materially from those described, including but not limited to the ability of the company and its franchisees to open and operate additional restaurants profitably, the ability of its franchisees to obtain financing, the continued growth of its franchisees, and its ability to attract and retain qualified franchisees, the impact of intense competition in the casual dining segment of the restaurant industry, and its ability to control restaurant operating costs which are impacted by market changes, minimum wage and other employment laws, food costs and inflation. For additional discussion of the principal factors that could cause actual results to be materially different, the reader is referred to the company�s Form 10-K for the fiscal year ended December�31, 2006. The company disclaims any obligation to update these forward-looking statements.