Based on current information, we are providing the following updated guidance for the 53-week fiscal year 2013, which ends on December 31, 2013.
- Total comparable restaurant sales increase of 1.5% to 2.5% (on a comparable 52-week basis)
- Five to Six Del Frisco's Grille restaurant openings ( versus five restaurant openings previously)
- Cost of sales of 30.5% to 30.9% of consolidated revenues (versus 30.8% to 31.2% previously)
- Restaurant-level EBITDA** of 23.0% to 23.4% of consolidated revenues (versus 22.8% to 23.3% previously)
- General and Administrative expenses of $17.0 million to $18.0 million
- Effective tax rate of approximately 30% to 32%
- Earnings per diluted share of $0.92 to $0.96 based on an annual weighted average diluted common shares outstanding of approximately 23.9 million (versus 20.4 million shares during 2012)
- Gross capital expenditures (before tenant allowances) of $31 million to $33 million ( versus $27 million to $29 million previously)
We will host a conference call to discuss the financial results for the second quarter ended June 11, 2013 today at 7:30 AM Central Time. Hosting the conference call will be Mark S. Mednansky, Chief Executive Officer, Tom Pennison, Chief Financial Officer, and Jeff Carcara, Chief Operating Officer.The conference call can be accessed live over the phone by dialing 888-487-0346 or for international callers by dialing 719-325-2201. A replay will be available afterwards and can be accessed by dialing 877-870-5176 or for international callers by dialing 858-384-5517; the passcode is 9880580. The replay will be available until Tuesday, July 23, 2013. The conference call will also be webcast live from our corporate website at www.DFRG.com under the investor relations section. An archive of the webcast will also be available through the corporate website shortly after the call has concluded. About Del Frisco's Restaurant Group, Inc. Based in Southlake, Texas, near Dallas, Del Frisco's Restaurant Group, Inc. is a collection of 35 restaurants across 19 states and Washington, D.C., including Del Frisco's Double Eagle Steak House, Sullivan's Steakhouse, and Del Frisco's Grille. Del Frisco's Double Eagle Steak House serves up flawless cuisine that's bold and delicious, an extensive award-winning wine list and a level of service that reminds guests that they're the boss. Sullivan's Steakhouse is a great neighborhood place for a big night out on the town - with outstanding food, hand-shaken martinis, an award winning wine list, and live entertainment all under one roof. Del Frisco's Grille is modern, inviting, stylish and fun, taking the classic bar and grill to new heights, and drawing inspiration from bold flavors and market-fresh ingredients.