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.
- 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.|