COLUMBUS, Ohio, Nov. 5, 2013 (GLOBE NEWSWIRE) -- Bravo Brio Restaurant Group, Inc. (Nasdaq:BBRG) (the Company) owner and operator of the BRAVO! Cucina Italiana (BRAVO!) and BRIO Tuscan Grille (BRIO) restaurant concepts, today reported financial results for the 13 and 39 week periods ended September 29, 2013. The Company also updated its 2013 outlook and provided development guidance for 2014.
Selected Third Quarter 2013 Highlights Compared to the Third Quarter 2012:
- Revenues increased 0.4% to $96.3 million from $95.9 million.
- Total comparable restaurant sales decreased 4.5%.
- Comparable restaurant sales decreased 3.7% at BRAVO! and decreased 5.1% at BRIO.
- Restaurant-level operating profit decreased 7.2% to $14.9 million from $16.0 million.
- Net income was $2.2 million, or $0.11 per diluted share, compared to net income of $2.8 million, or $0.14 per diluted share.
Selected Year-to-Date 2013 Highlights Compared to the Year-Ago Period:
- Revenues increased 2.6% to $305.0 million from $297.1 million.
- Total comparable restaurant revenues decreased 3.3%.
- Comparable restaurant sales decreased 2.3% at BRAVO! and decreased 4.1% at BRIO.
- Restaurant-level operating profit decreased 4.7% to $49.4 million from $51.8 million.
- Net income was $10.2 million, or $0.50 per diluted share, compared to net income of $11.7 million, or $0.57 per diluted share.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts