Saturday, April 25, 2009
Pinnacle Entertainment Reports Strong First Quarter 2009 Results
For the first quarter of 2009, revenues increased 4.8% to $269 million from $257 million in the 2008 first quarter. Consolidated Adjusted EBITDA(1) was $53.4 million in the 2009 first quarter, an increase of 50.7% from $35.4 million in the first quarter of 2008. The 2009 quarterly results reflect the continued ramp-up of operations at Lumiere Place in downtown St. Louis (assisted by the November 2008 passage of Proposition A in Missouri); improved utilization of the hotel expansion at L'Auberge du Lac in Lake Charles, Louisiana, as well as a reduction in marketing and other start-up costs related to the expansion's opening; and efforts to control overall costs.
The Steak n Shake Company Reports Fiscal Second Quarter 2009 Results
Net earnings for the second quarter of fiscal year 2009 were $2.3 million,
or $0.08 per diluted share, contrasted to a net loss of ($2.8 million), or
($0.10) per diluted share in the second quarter of fiscal year 2008.
Quarterly same-store sales increased 2.4% due to an increase in guest
traffic of 7.8%, offset by a 5.4% contraction in the average guest check.
Net sales decreased 0.7% from $189.3 million to $188.0 million in the
current quarter because Steak n Shake operated 21 fewer company-owned
restaurants following the closure and refranchising of certain units after
the same period in the previous year.
or $0.08 per diluted share, contrasted to a net loss of ($2.8 million), or
($0.10) per diluted share in the second quarter of fiscal year 2008.
Quarterly same-store sales increased 2.4% due to an increase in guest
traffic of 7.8%, offset by a 5.4% contraction in the average guest check.
Net sales decreased 0.7% from $189.3 million to $188.0 million in the
current quarter because Steak n Shake operated 21 fewer company-owned
restaurants following the closure and refranchising of certain units after
the same period in the previous year.
