This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Einstein Noah Restaurant Group Reports Second Quarter 2012 Financial Results

Stocks in this article: BAGL

O’Neill concluded, “As announced last quarter, our Board of Directors is reviewing strategic alternatives to maximize value for all stockholders, and we have no further update to provide at this time. Our Company priorities of executing on our asset-light expansion strategy, de-levering our balance sheet, paying a quarterly dividend, building on our comparable sales momentum, and realizing operational improvements through our comprehensive cost savings program have not changed. In fact, we are pleased to have already made substantial progress on these action items and expect continued focus will further strengthen our business model.”

Second Quarter 2012 Financial Results

For the second quarter ended July 3, 2012, system-wide comparable store sales increased +1.3%, reflecting +3.9% growth in average check that was driven primarily by product mix, pricing, and an increase in catering sales, and partially offset by lower comparable transactions. Total revenues increased 2.2% to $106.0 million from $103.7 million, reflecting a 3.0% increase in Company-owned restaurant sales, while manufacturing and commissary revenues decreased 7.2% due to recent commissary closures.

Restaurant gross margin as a percentage of company-owned restaurant sales increased 150 basis points to 17.7% from 16.2%, and was due primarily to operational efficiencies in food costs, and to a lesser extent, overall sales leveraging and higher pricing.

Manufacturing and commissary gross margin as a percentage of manufacturing and commissary revenues increased from 12.0% to 22.9%, and was due to benefits from various cost initiatives related to the efficiency program, but particularly, the closure of all five commissaries by the end of the first quarter of this year.

Overall, gross margin was $21.1 million in the second quarter of 2012 compared to $18.3 million in the second quarter of 2011, and as a percentage of total revenues, increased to 19.9% from 17.7% in the year-ago period.

General and administrative expenses increased to $10.0 million in the second quarter of 2012 from $8.6 million in the second quarter of 2011, and was primarily due to higher variable incentive compensation.

2 of 7

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs