** 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 accounting expenses paid to a related party, secondary public offering costs, public offering transactions bonuses, and general and administrative expenses. For a reconciliation of restaurant-level EBITDA to the most directly comparable financial measure presented in accordance with GAAP and a discussion of why we consider it useful, see the financial information accompanying this release.Mark S. Mednansky, Chief Executive Officer of Del Frisco's Restaurant Group, Inc., said, "We are very pleased that the efforts of our team produced a 2.5% increase in total comparable restaurant sales and we are very encouraged by the substantial traffic gains realized at both Del Frisco's Double Eagle and Sullivan's. Del Frisco's Double Eagle continues to deliver solid results, Del Frisco's Grille is on track with its development plan, while during the second quarter we began work on refreshing Sullivan's with an emphasis on solidifying the brand as an affordable neighborhood steakhouse through the introduction of a fixed-price offering. From a cost standpoint, some operational inefficiencies at newer restaurants and deleveraging at Sullivan's negatively impacted our restaurant-level margins, however solid controls and lower cost of sales with strong revenue gains allowed us to increase our four–wall profitability."
Del Frisco's Restaurant Group, Inc. Announces Second Quarter 2013 Results
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