J. Alexander's Holdings, Inc. Reports Results For Third Quarter And First Nine Months Of 2016

J. Alexander's Holdings, Inc. (NYSE: JAX) (the Company) today reported financial results for the third quarter and nine months ended October 2, 2016.

Third Quarter 2016 Highlights Compared To The Third Quarter Of 2015

• Net sales increased $2,124,000, or 4.3%, to $51,459,000 from $49,335,000 in the third quarter a year ago.

• For the J. Alexander's/Redlands Grill restaurants, average weekly same store sales per restaurant (1) were $104,200, an increase of 1.4% from $102,800 recorded in the third quarter of 2015, and for the Stoney River Steakhouse and Grill restaurants, average weekly same store sales per restaurant increased to $61,900, or 1.8%, from $60,800 recorded in the third quarter of 2015. The most recent period marked the ninth consecutive quarter of increases in average weekly same store sales for Stoney River Steakhouse and Grill.

• Income from continuing operations before income taxes totaled $1,177,000 during the third quarter of 2016 compared to a loss from continuing operations before income taxes of $2,437,000 in the third quarter of 2015. The results for the third quarter of 2015 were impacted by non-recurring transaction expenses of $4,197,000 associated with the spin-off from Fidelity National Financial Ventures, LLC (FNFV) in September 2015. Excluding these non-recurring transaction expenses, income from continuing operations before income taxes would have totaled $1,760,000 for the third quarter of 2015. The results also included income tax expense of $121,000 in the third quarter of 2016 and an income tax benefit of $66,000 in the third quarter of 2015.

• Net income for the third quarter of 2016 totaled $945,000 as compared to a loss of $2,477,000 reported in the comparable quarter of 2015.

• Basic and diluted earnings per share totaled $0.06 for the third quarter of 2016 as compared to a loss of $0.17 reported in the third quarter of 2015. In computing earnings per share for periods prior to the Company's spin-off from FNFV in September 2015, weighted average common shares outstanding are based on the number of shares outstanding at the date of the Company's spin-off from FNFV as if all shares had been outstanding since the beginning of the earliest period presented.

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