Quality Dining Reports First Quarter Results
2004年4月1日 - 6:25AM
PRニュース・ワイアー (英語)
Quality Dining Reports First Quarter Results MISHAWAKA, Ind., March
31 /PRNewswire-FirstCall/ -- Quality Dining, Inc. today reported
net income of $279,000, or $0.02 per diluted share, on total
revenues of $64.1 million for the first quarter of fiscal 2004
compared to a net income of $179,000, or $0.02 per diluted share,
on total revenues of $65.1 million for the same period in fiscal
2003. Quality Dining owns the Grady's American Grill(R), Papa
Vino's Italian Kitchen(TM) andSpageddies Italian Kitchen(TM)
concepts and operates Burger King(R) restaurants and Chili's Grill
& Bar(R) restaurants as a franchisee. As of March 31, 2004 the
Company operates 118 Burger King restaurants, 37 Chili's Grill
& Bar restaurants, 8 Grady'sAmerican Grill restaurants, 6 Papa
Vino's Italian Kitchen(TM) restaurants, 3 Spageddies Italian
Kitchen restaurants, one Regas Grill(R) and one Porterhouse Steaks
and Seafood(TM) restaurant. This press release contains and
incorporates forward-lookingstatements within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements about the Company's development plans and trends in the
Company's operations and financial results. Forward-looking
statements can be identified by the use of words such as
"anticipates," "believes," "plans," "estimates," "expects,"
"intends," "may," and other similar expressions. Forward-looking
statements are made based upon management's current expectations
and beliefs concerning future developments and their potential
effects on the Company. There can be no assurance that the Company
will actually achieve the plans, intentions and expectations
discussed in these forward-looking statements. Actual results may
differ materially. Among the risks and uncertainties that could
cause actual results to differ materially are the following: the
availability and cost of suitable locations for new restaurants;
the availability and cost of capital to the Company; the ability of
the Company to develop and operate its restaurants; the ability of
the Company to sustain sales and margins in the increasingly
competitive environment; the hiring, training and retention of
skilled corporate and restaurant management and other restaurant
personnel; the integration and assimilation of acquired concepts;
the overall success of the Company's franchisors; the ability to
obtain the necessary government approvals and third-party consents;
changes in governmental regulations, including increases in the
minimum wage; the results of pending litigation; and weather and
other acts of God. The Company undertakes no obligation to update
or revise any forward-looking information, whether as a result of
new information, future developments or otherwise. Quality Dining
is not responsible for changes made to this document by wire
services or Internet services. QUALITY DINING, INC. Unaudited
Financial Highlights (in thousands, except per share amounts) 16
Weeks 16 Weeks Ended Ended Feb. 15, Feb. 16, 2004 2003 --------
-------- Revenues: Burger King $32,307 $33,941 Chili's Grill &
Bar 24,807 23,517 Italian Dining Division 5,027 5,644 Grady's
American Grill 1,922 2,042 -------- -------- Total revenues 64,063
65,144 -------- -------- Operating Expenses: Restaurant Operating
Expenses: Food and beverage 17,586 17,399 Payroll and benefits
18,780 19,336 Depreciation and amortization 2,866 3,075 Other
operating expenses 16,818 17,395 -------- -------- Total restaurant
operating expenses 56,050 57,205 -------- -------- Income from
restaurant operations 8,013 7,939 General and administrative 5,014
4,936 Trademark amortization 82 116 Facility closing costs 54 5
-------- -------- Operating income 2,863 2,882 -------- --------
Other income (expense): Interest expense (2,059) (2,305) Loss on
sale of property and equipment (47) (11) Minority interest in
earnings (480) (781) Other income, net 86 493 -------- --------
Total other income (expense), net (2,500) (2,604) -------- --------
Income from continuing operations before income taxes 363 278
Income tax provision 272 341 -------- -------- Income from
continuing operations 91 (63) Income from discontinued operations,
net of tax 188 242 -------- -------- Net Income $279$179 ========
======== Basic net income per share: Continuing operations - -
Discontinuing operations 0.02 0.02 -------- -------- Basic net
income per share $0.02 $0.02 ======== ======== Diluted net income
pershare: Continuing operations - - Discontinuing operations 0.02
0.02 -------- -------- Diluted net income per share $0.02 $0.02
======== ======== Weighted average shares: Basic 11,311 11,311
Diluted 11,343 11,311 DATASOURCE: Quality Dining, Inc. CONTACT:
John C. Firth, Executive Vice President and General Counsel of
Quality Dining, Inc., +1-574-243-6616
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