This Day On The Street
Continue to site
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

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

Net loss for the third quarter of 2012 was $(2.4) million, or $(0.12) per diluted share, compared to net loss of $(1.8) million, or $(0.10) per diluted share in the third quarter of 2011. Adjusted net income *, a non-GAAP measure, was $2.0 million, or $0.10 per diluted share, compared to $1.5 million, or $0.08 per diluted share in the third quarter of last year. The share base was 20.8 million in the third quarter of 2012 compared to 18.0 million in the third quarter of 2011. 

Segment Results

The Company operates the Del Frisco's Double Eagle Steak House, Sullivan's, and Del Frisco's Grille brands as operating segments. The operations of Del Frisco's Grille are included in the "Other" segment.

Del Frisco's Double Eagle Steak House

Revenues increased $1.2 million, or 5.1%, to $25.2 million in the third quarter of 2012 from $24.0 million in the third quarter of 2011. The improvement was primarily due to a 5.3% increase in comparable restaurant sales, comprised of a 3.1% increase in average check and a 2.2% increase in entrée counts. This increase follows a comparable restaurant sales increase of 16.3% in the third quarter of last year. Operating weeks for the quarter remained consistent at 108 for both periods.

Restaurant-level EBITDA** increased 8.3% to $6.8 million in the third quarter of 2012 from $6.3 million in the third quarter of 2011, as the concept benefitted primarily from lower restaurant operating expenses and marketing and advertising costs which more than offset higher cost of sales as a percentage of revenues.

Sullivan's

Revenues increased $0.2 million, or 1.3%, to $17.2 million in the third quarter of 2012 from $16.9 million in the third quarter of 2011. The 1.4% increase in comparable restaurant sales for the third quarter of 2012 was comprised of a 0.9% increase in average check and a 0.5% increase in entrée counts. This increase follows a comparable restaurant sales increase of 6.9% in the third quarter of last year.  Operating weeks for the quarter remained consistent at 228 for both periods.

3 of 6

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
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs