This Day On The Street
Continue to site
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

Del Frisco's Restaurant Group, Inc. Announces Second Quarter 2012 Results

SOUTHLAKE, Texas, Aug. 21, 2012 (GLOBE NEWSWIRE) -- Del Frisco's Restaurant Group, Inc. (Nasdaq:DFRG), the owner and operator of the Del Frisco's Double Eagle Steak House, Sullivan's Steakhouse, and Del Frisco's Grille restaurant concepts, reported financial results today for the second quarter ended June 12, 2012. The Company also provided an outlook for the full 2012 fiscal year.

Key highlights from the second quarter 2012 compared to the second quarter 2011 include:
  • Consolidated revenues increased 17.9% to $51.3 million from $43.5 million
  • Total comparable restaurant sales increased 4.0%, including 7.3% at Del Frisco's and 0.3% at Sullivan's, following a comparable restaurant sales increase of 12.3% in the second quarter of last year
  • Cost of sales, as a percentage of sales, was relatively stable increasing slightly to 30.7% from 30.6%
  • Operating income increased 97% to $6.5 million from $3.3 million
  • Net income increased 250% to $3.6 million ($0.20 per diluted share) from $1.0 million ($0.06 per diluted share)
  • Restaurant-level EBITDA* increased 28.6% to $12.6 million from $9.8 million
* Restaurant-level EBITDA, a non-GAAP measure, represents net income before interest, taxes and depreciation and amortization plus the sum of certain non-operating expenses, including pre-opening costs, management fees and expenses, and general and administrative expenses. For a reconciliation of restaurant-level EBITDA and a discussion of why we consider it useful, see the financial information accompanying this release.

"During the second quarter, we demonstrated the strength of our business model with solid comparable restaurant sales and significant increases in both restaurant-level EBITDA and overall profitability," said Mark S. Mednansky, Chief Executive Officer of Del Frisco's Restaurant Group, Inc. "Looking ahead, we are confident that our recent IPO has provided us the financial flexibility to pursue our stated long-term growth objectives and further establish Del Frisco's as a leading 'next generation' full-service dining company."

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs