The conference call can be accessed live over the phone by dialing 888-820-9416 or for international callers by dialing 913-312-0943. 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 passcode is 9879838. The replay will be available until November 6, 2013. The conference call will also be webcast live from the Company’s website at www.chuys.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.
Founded in Austin, Texas in 1982, Chuy’s owns and operates 47 full-service restaurants across fourteen states serving a distinct menu of authentic, made from scratch Tex Mex inspired dishes. Chuy’s highly flavorful and freshly prepared fare is served in a fun, eclectic and irreverent atmosphere, while each location offers a unique, “unchained” look and feel, as expressed by the concept’s motto “If you’ve seen one Chuy’s, you’ve seen one Chuy’s!”. For further information about Chuy’s, including the nearest location, visit the Chuy’s website at www.chuys.com.
Forward-Looking StatementsCertain statements in this release that are not historical facts, including, without limitation, those relating to our anticipated financial performance, are forward-looking statements that involve risks and uncertainties. Such statements are based upon the current beliefs and expectations of the management of the Company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, the actual number of restaurant openings, the sales at the Company’s restaurants, changes in restaurant development or operating costs, such as food and labor, the Company’s ability to leverage its existing management and infrastructure, changes in restaurant pre-opening expense, general and administrative expenses, capital expenditures, or our effective tax rate, changes in the number of diluted shares outstanding, strength of consumer spending, conditions beyond the Company’s control such as weather, natural disasters, disease outbreaks, epidemics or pandemics impacting the Company’s customers or food supplies, acts of war or terrorism and other factors disclosed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. Investors should take such risks into account when making investment decisions. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statements, except as required by law.
|Chuy’s Holdings, Inc. and Subsidiaries Unaudited Condensed Consolidated Income Statements (In thousands, except share and per share data)|
|Thirteen Weeks Ended||Thirty-Nine Weeks Ended|
|September 29,||September 23,||September 29,||September 23,|
|Costs and expenses:|
|Cost of sales||14,863||12,194||42,064||33,764|
|General and administrative||2,418||2,497||7,720||6,419|
|Advisory agreement termination fee||—||—||—||2,000|
|Secondary offering costs||—||—||925||—|
|Depreciation and amortization||2,324||1,725||6,418||4,672|
|Total costs and expenses||49,428||41,523||141,523||116,364|
|Income from operations||4,048||3,416||12,078||9,596|
|Income before income taxes||4,025||1,131||11,998||4,145|
|Income tax expense||1,209||341||3,381||1,243|
|Undistributed earnings allocated to participating interests||—||257||—||2,171|
|Net income available to common stockholders||$||2,816||$||533||$||8,617||$||731|
|Net income per common share:|
|Weighted-average shares outstanding:|
|Chuy’s Holdings, Inc. and Subsidiaries Unaudited Selected Balance Sheet Data (In thousands)|
|September 29,||December 30,|
|Cash and cash equivalents||$||3,223||$||5,855|
|Total stockholders’ equity||97,867||87,463|
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