Comparable Restaurant Sales Growth of 2.5% and Traffic Growth of 3.2%
- Consolidated revenues increased 19.0% to $60.4 million from $50.7 million.
- Total comparable restaurant sales increased 2.5%, including an increase of 5.9% at Del Frisco's and a decrease of 2.7% at Sullivan's. This follows a comparable restaurant sales increase of 4.2% in the second quarter of the previous year.
- Total comparable entrées, a measure of traffic, increased 3.2%, including an increase of 5.8% at Del Frisco's and an increase of 1.4% at Sullivan's.
- Cost of sales, as a percentage of consolidated revenues, decreased to 30.0% from 30.7%.
- Net income of $4.4 million, or $0.19 per diluted share (on a share base of 23.8 million shares), compared to net income of $3.6 million, or $0.20 per diluted share (on a share base of 18.0 million shares), in the second quarter of last year.
- Adjusted net income*, a non-GAAP measure, of $4.8 million, or $0.20 per diluted share, compared to $4.3 million, or $0.24 per diluted share, in the second quarter of the previous year.
- Restaurant-level EBITDA**, a non-GAAP measure, increased 11.7% to $14.0 million from $12.5 million.