Red Robin Gourmet Burgers, Inc., (NASDAQ: RRGB), a casual dining restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today reported financial results for the 12 weeks ended July 14, 2013.
Fiscal Second Quarter 2013 Financial Highlights:
- Earnings per diluted share were $0.77, compared to fiscal second quarter 2012 earnings per diluted share of $0.52.
- Total revenues increased 6.5% to $238.3 million; Company-owned comparable restaurant revenues increased 4.3% compared to the same period a year ago.
- Restaurant-level operating profit margin increased to 23.3% from 21.1% (See Schedule I).
Net income for the 12 weeks ended July 14, 2013, was $11.1 million compared to $7.7 million in the 12 weeks ended July 8, 2012.
Year to date through the Company’s fiscal second quarter 2013, net income was $20.6 million compared to $18.3 million for the comparable period in 2012. Earnings per diluted share were $1.43, an increase of 16.3% compared to 2012 earnings per diluted share of $1.23.“During the second quarter, we continued enhancing our menu to offer Red Robin guests greater variety and value while remaining true to our gourmet burger authority, contributing to revenue growth and continued market share gains in a tough casual dining environment,” said Steve Carley, Red Robin Gourmet Burgers, Inc. chief executive officer. “Our most recent performance marks 12 consecutive quarters of same store sales growth and continued expansion of our operating margins. Looking ahead, we remain focused on making even more progress on our strategic road map initiatives, including our brand transformation and other initiatives that are growing our base of loyal Red Robin fans and driving sustainable growth and profitability for our brand.” Operating Results Total Company revenues, which include Company-owned restaurant revenues and franchise royalties, increased 6.5% to $238.3 million in the second quarter of 2013 from $223.7 million in the fiscal second quarter of 2012.