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Texas Roadhouse, Inc. Announces Second Quarter 2012 Results

The Company used earnings before the impact of the legal settlement as a key performance measure of results of operations for purposes of evaluating performance internally. This non-GAAP measurement is not intended to replace the presentation of our financial results in accordance with GAAP. Rather, the Company believes that the presentation of results before the legal settlement provides additional information to facilitate the comparison of past and present operations, excluding items that the Company does not believe are indicative of our ongoing operations in the 26 weeks ended June 26, 2012.

    For the 26 weeks Ended
June 26, 2012     June 28, 2011
Net income attributable to Texas Roadhouse, Inc. and subsidiaries, excluding settlement charge $ 42,240 $ 35,869
Amount reserved for settlement of a legal matter, net of tax (1) $ (3,062 ) $ -
Net income attributable to Texas Roadhouse, Inc. and subsidiaries $ 39,179 $ 35,869
 
Weighted average diluted shares outstanding 71,247 73,256
 
Diluted earnings per share, excluding settlement charge $ 0.59 $ 0.49
Impact of settlement charge on diluted earnings per share $ (0.04 ) $ -
Diluted earnings per share $ 0.55   $ 0.49
 

(1)

Amount reserved in the first quarter of fiscal 2012 for the settlement of a legal matter was $5.0 million before the statutory income tax rate. The settlement amount was included in general and administrative costs on the Company's Condensed Consolidated Statements of Income and Comprehensive Income.





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