This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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!

Chuy’s Holdings Inc. Announces Second Quarter 2012 Financial Results

Stocks in this article: CHUY

Initial Public Offering

On July 27, 2012, following the end of the second quarter of 2012, the Company successfully completed its initial public offering (IPO) of common shares at $13.00 per share. The Company issued 6,708,332 shares of common stock, including 874,999 shares sold to the underwriters in the IPO pursuant to their over-allotment option. The Company received net proceeds from the offering of approximately $79.4 million after underwriter discounts and commissions and estimated offering expenses. These net proceeds have been used to repay approximately $79.4 million of the Company’s loans outstanding under the Company’s credit facility. The total outstanding debt under the credit facility after the repayment was approximately $5.0 million.

Second Quarter 2012 Financial Results

Revenue increased $10.5 million, or 32.0%, to $43.5 million in the second quarter of 2012 compared to $33.0 million in the second quarter of 2011. The increase was driven by $10.1 million in incremental revenue from an additional 113 operating weeks provided by eleven new restaurants opened during and subsequent to the second quarter of 2011. Comparable restaurant sales increased 1.9% during the second quarter of 2012. The increase was driven by a 1.6% increase in average check and a 0.3% increase in average weekly customers.

Total restaurant operating costs decreased as a percent of revenues to 78.8% in the second quarter of 2012 from 79.7% in the second quarter of 2011, driven largely by the impact of favorable food costs, particularly produce and dairy costs, partially offset by increases in labor and occupancy costs at certain non-comparable restaurants.

Net income available to common stockholders for the second quarter of 2012 was $31,000, or $0.15 per diluted share, compared to $8,000, or $0.04 per diluted share, in the second quarter of 2011.

Pro forma net income increased 39.9% to $2.7 million, or $0.17 per diluted share in the second quarter of 2012, from $2.0 million, or $0.12 per diluted share, in the second quarter of 2011. A reconciliation between GAAP net income and pro forma net income is included in the accompanying financial data.

2 of 6

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!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

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