Regarding future expectations, Hoback added “We are seeing growth in both transactions and our average check without the benefit of much broadcast media, based on effective store level communications of unique product offerings and a tight focus on quality enhancements across our menu. While the commodity environment remains challenging and is pressuring our cost of sales margin, we expect that approximately 40% to 45% of incremental sales growth will flow to our cash flow from operations, significantly improving our financial performance compared to the first half of fiscal 2010, which was the bottoming of our sales trends. We have lived through the influx of several fast casual “better burger” competitors and are seeing our customers returning for our fresh, premium burger lineup, fresh cut fries, fresh frozen custard, fresh squeezed lemonades and fresh Craver Combos.”
Good Times is a regional chain of quick service restaurants located primarily in Colorado providing a menu of high quality all natural hamburgers, 100% breast of chicken sandwiches, fresh frozen custard, fresh squeezed lemonades and other unique offerings. Good Times currently operates and franchises 49 restaurants.
This press release contains forward looking statements within the meaning of federal securities laws. The words “intend,” “may,” “believe,” “will,” “should,” “anticipate,” “expect,” “seek” and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, which may cause Good Times’ actual results to differ materially from results expressed or implied by the forward looking statements. These risks include such factors as the uncertain nature of current restaurant development plans and the ability to implement those plans
, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, and other matters discussed under the “Risk Factors” section of Good Times’ Annual Report on Form 10-K for the fiscal year ended September 30, 2009 filed with the SEC. Although Good Times may from time to time voluntarily update its forward looking statements, it disclaims any commitment to do so except as required by securities laws.