Good Times Reports 1st Quarter Results

Good Times Restaurants Inc. (NASDAQ: GTIM), operator of Good Times Burgers & Frozen Custard, a regional quick service restaurant chain focused on fresh, high quality, all natural products and of Bad Daddy’s Burger Bar, a full service, upscale concept today announced its unaudited financial results for the first fiscal quarter ended December 31, 2013.

Key highlights of the Company’s report include:
  • Same store sales for company-owned restaurants increased 17.4% for the quarter, which was the fourteenth consecutive quarter of increasing same store sales
  • Restaurant-Level Operating Profit (see schedule below) increased 112% or $466,000 over last year during the quarter
  • The restaurant level operating margin increased by 610 basis points to 14.9% from 8.8% last year during the quarter (see schedule below)
  • Preopen costs related to the development of the first Colorado Bad Daddy Burger Bar restaurants were $148,000 during the quarter
  • The Affiliate Investment Loss from the Company’s 48% ownership of Bad Daddy’s Franchise Development LLC was $72,000 during the quarter related to initial development costs for the Bad Daddy’s franchise program
  • Loss from Operations decreased to ($86,000) from ($297,000) in the prior year, including an increase in General & Administrative expenses this year related to the Company’s expanded Investor Relations expenses and Bad Daddy’s of Colorado administrative expenses

“We are very pleased with our continuing sales trends and the dramatic increases we’ve had over the last two years and we’re are now seeing a corresponding increase in our profitability,” said Boyd Hoback, Good Times Restaurants Inc. President and CEO. “We’re still relatively early in our reimaging and remodeling process of older restaurants which we believe will provide additional sales momentum this year. Our operations, marketing and product development initiatives have come together in a powerful way, heightening our competitive differences that we believe the large quick service hamburger chains can’t and won’t match.”

If you liked this article you might like

Insider Trading Alert - GAIN, GTIM And ERN Traded By Insiders

Wayback Burgers Plans 2016 IPO

Insider Trading Alert - KLAC, GTIM And TPC Traded By Insiders

Insider Trading Alert - STON, GTIM And CTL Traded By Insiders

Insider Trading Alert - QLIK, GTIM And GLP Traded By Insiders