>Red Robin Gourmet Burgers Reports Earnings for the Fiscal First Quarter 2009

Share Button

>GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)–May. 21, 2009– Red Robin Gourmet Burgers, Inc., (NASDAQ: RRGB), a casual dining restaurant chain focused on serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today reported financial results for the 16 weeks ended April 19, 2009.

Financial and Operational Highlights
Highlights for the 16 weeks ended April 19, 2009, compared to the 16 weeks ended April 20, 2008, are as follows:
– Total revenues increased 6.0% to $270.8 million.
– Restaurant revenue increased 6.3% to $266.6 million.
– Company-owned comparable restaurant sales decreased 8.1%.
– Restaurant-level operating profit decreased 1.7% to $47.1 million.
– GAAP diluted earnings per share were $0.25, which included $0.19 per diluted share in compensation expense related to the Company’s tender offer for certain stock options, and $0.03 per diluted share in costs related to the closing of four company-owned restaurants, vs. $0.43 in the fiscal first quarter a year ago.
– A total of nine new Red Robin® restaurants, seven company-owned and two franchised locations, were opened during the fiscal first quarter 2009.

(click on link to read more)

About the Author