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Ruby Tuesday Management Discusses Q4 2012 Results - Earnings Call Transcript

Our fourth quarter earnings were released today after the market closed, and a copy of our press release can be found on the Investor Relations section of our website at, and is also available on Business Wire, FirstCall and other financial media outlets.

Our format today includes an overview of our fourth quarter and fiscal 2012 financial results, our fiscal 2013 outlook and a review of our plans and strategies. At the conclusion of our prepared remarks, we will respond to your questions.

I will now turn the call over to Sandy.

Samuel E. Beall

Thanks, Greg. I'd like to welcome all of you listening in this evening. Thank you for joining us on our fourth quarter earnings call. I will begin with a brief overview of our quarter and an update of our key value creation initiatives. Michael and Greg will provide the financial review and guidance outlook, then Dan will provide details on our marketing plans, and Kimberly will follow-up with an overview of our operations plans for Ruby Tuesday, as well as Lime Fresh and Marlin & Ray's.

As noted in our press release today, we reported a diluted loss per share of $0.09 for the fourth quarter or earnings per share of $0.21, excluding the various items noted in our press release. Our same-restaurant sales for the fourth quarter minus 4.6% or roughly in line with our expectations as we reduced the level of coupons on a year-over-year basis to get more in line with our quarterly projections going forward in order to eliminate the huge hurdle next year, while also continuing to test our television advertising strategy during the quarter.

Our earnings performance for the quarter on adjusted basis was slightly below our expectations due to unfavorable tax adjustments and higher healthcare costs and interest costs.

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