TAMPA, Fla., Sept. 4, 2012 (GLOBE NEWSWIRE) -- Bloomin' Brands, Inc. (Nasdaq:BLMN) today reported financial results for the second quarter ended June 30, 2012. Key highlights for the quarter include the following:
- Second quarter Adjusted diluted earnings per share increased 20.0% to $0.18. Diluted earnings per share increased 23.1% to $0.16.
|THREE MONTHS ENDED JUNE 30,|
|Diluted earnings per share||$ 0.16||$ 0.13||23.1%|
|Adjusted diluted earnings per share||$ 0.18||$ 0.15||20.0%|
|(1) See Reconciliations of Non-GAAP Measurements to U.S. GAAP Results included later in this release.|
- Total revenues increased by 2.7% to $980.9 million.
- Blended domestic comparable restaurant sales for Company-owned restaurants grew by 2.4% for the Company's four core concepts.
- Restaurant operating margins (calculated as restaurant sales less cost of sales, labor and other related costs and other restaurant operating expenses) were 15.7%, an increase of 0.8% over the second quarter of 2011.
- Adjusted income from operations increased 17.0% to $51.0 million as compared to $43.6 million in the second quarter of 2011. Income from operations increased 19.5% to $48.7 million as compared to $40.8 million in the same quarter in the prior year.
- Adjusted net income attributable to Bloomin' Brands, Inc. increased 18.0% to $19.3 million as compared to $16.4 million in the same period in 2011. Net income attributable to Bloomin' Brands, Inc. increased 24.5% to $17.4 million as compared to $14.0 million in the same period in 2011.
- The Company continued to focus on brand investments, completing 48 renovations at its Outback Steakhouse concept and opening four new Bonefish Grill restaurants. In addition, the Company opened two Company-owned Outback Steakhouse restaurants in South Korea and two Outback Steakhouse restaurants in Brazil with its joint venture partner.