GB Foods Posts Net Income Gain, Credits Expansion

ANAHEIM — GB Foods Corp., which operates Green Burrito restaurants, reported net income of $233,000, or 3 cents a share, 66% higher than the $140,000, or 2 cents a share, for the third quarter of 1996. The company attributed the gain to continued expansion of both franchise and dual-concept restaurants. Revenue increased 17% to $1.4 million from $1.2 million. As of Sept. 30, there were 101 Carl’s Jr./Green Burrito dual-concept stores, 17 of which were opened during the third quarter. Nine-month figures were not given.