Red Robin Gourmet Burgers Reports Earnings for the Fiscal First Quarter 2010
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, reported financial results for the 16 weeks ended April 18, 2010.
Financial and Operational Results
Results for the 16 weeks ended April 18, 2010, compared to the 16 weeks ended April 19, 2009, are as follows:
- Restaurant revenue increased 0.3% to $267.5 million.
- Company-owned comparable restaurant sales decreased 2.3%.
- Restaurant-level operating profit decreased 5.7% to $48.8 million.
- GAAP diluted earnings per share were $0.32 vs. $0.25 in the fiscal first quarter a year ago. GAAP diluted earnings per share in the fiscal first quarter 2009 included $0.22 per diluted share in one-time charges.
- The Company recorded $3.5 million, or $0.19 per diluted share, in other income as a result of a one-time adjustment to unredeemed gift card liabilities (see “Gift Card Breakage Income” below)
- Three new company-owned Red Robin