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Ignite Restaurant Group Announces Completion Of Restatement, Refinancing Transaction And Second And Third Quarter Results

Stocks in this article: IRG

The conference call can be accessed live over the phone by dialing 888-487-0340 or for international callers by dialing 719-325-2333. A replay will be available one hour after the call and can be accessed by dialing 877-870-5176 or 858-384-5517 for international callers; the password is 4748736. The replay will be available until November 6, 2012. The call will also be webcast live from the Company’s website at www.igniterestaurants.com under the “Investors” section.

About Ignite Restaurant Group

Ignite Restaurant Group, Inc. owns and operates two restaurant brands, Joe’s Crab Shack and Brick House Tavern + Tap. Each brand offers a variety of high-quality, chef-inspired food and beverages in a distinctive, casual, high-energy atmosphere. Joe’s Crab Shack and Brick House Tavern + Tap operate in a diverse set of markets across the United States.

Non-GAAP Financial Measures

This press release references non-GAAP financial measures as defined by SEC rules, including Adjusted EBITDA, restaurant-level profit, and free cash flows. In addition, adjusted pro forma net income has been included in this press release which is not required by or presented in accordance with U.S. GAAP or Article 11 of Regulation S-X. The Company believes that these measures are helpful to investors in measuring its financial performance and comparing its performance to its peers. However, these non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures used by other companies. These non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for GAAP financial measures. A reconciliation of each of Adjusted EBITDA, restaurant-level profit and adjusted pro forma net income to the most directly comparable GAAP measure is set forth in Table 1, 2 and 3, respectively, below. In addition, Item 2.02 of the Form 8-K includes a more detailed description of the non-GAAP financial measures used in this press release, together with a discussion of the usefulness and purpose of such measures.

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