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!

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

Select the service that is right for you!

COMPARE ALL SERVICES
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 17,001.22 -38.27 -0.22%
S&P 500 1,988.40 -3.97 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

Brokerage Partners

Rates from Bankrate.com

  • 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