CARLSBAD, CA and GREENWICH, CT--(Marketwire - 05/10/10) - Rubio's Restaurants, Inc. (NASDAQ:RUBO - News), a leader in the growing Fast Casual segment of the restaurant industry with its premium Fresh Mexican Grill concept, and Mill Road Capital, L.P., a Connecticut-based private investment firm, announced today a definitive merger agreement under which an entity controlled by Mill Road Capital will acquire all the outstanding shares of Rubio's Restaurants in a cash merger transaction. Pursuant to the terms of the definitive merger agreement, the outstanding shares of common stock of Rubio's Restaurants will be acquired for $8.70 per share. The aggregate transaction value is approximately $91 million
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Showing posts with label Rubios. Show all posts
Showing posts with label Rubios. Show all posts
Monday, May 10, 2010
Thursday, October 15, 2009
Rubio's(R) Restaurants, Inc. Receives An Unsolicited Letter Outlining a Proposal to Acquire All Outstanding Common Stock
CARLSBAD, Calif., Oct. 14, 2009 (GLOBE NEWSWIRE) -- Rubio's(R) Restaurants, Inc. (Nasdaq:RUBO) today announced that its Board of Directors had received an unsolicited letter, dated October 13, 2009, from a group consisting of Alex Meruelo and his affiliates and Levine Leichtman Capital Partners IV, L.P. outlining a proposal to acquire all of the Company's outstanding common stock for $8.00 per share. The Board intends to consider the letter consistent with its fiduciary duties to act in the best interests of the Company's stockholders.
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Tuesday, September 29, 2009
Rubio's names new chief operating officer
CARLSBAD, Calif. (AP) -- Rubio's Restaurants Inc., operator of the Rubio's Fresh Mexican Grill chain, said Monday it has promoted Marc Simon to the newly created position of chief operating officer.
Simon has been a senior vice president of operations since he joined the company in November 2007.
Previously he was CEO of America's Incredible Pizza Co. in Tulsa, Okla. He has also worked at McDonald's Corp. and Ernst & Young's consulting group.
Shares of the Carlsbad, Calif.-based company fell 46 cents, or 6.6 percent, to $6.54 on Monday
Simon has been a senior vice president of operations since he joined the company in November 2007.
Previously he was CEO of America's Incredible Pizza Co. in Tulsa, Okla. He has also worked at McDonald's Corp. and Ernst & Young's consulting group.
Shares of the Carlsbad, Calif.-based company fell 46 cents, or 6.6 percent, to $6.54 on Monday
Tuesday, August 4, 2009
Rubio's Restaurants Reports 2009 Second Quarter Results
Q2 Revenues Up 8% to Record $48.7 Million; Q2 Net Income Up 53% to $512,000 or $0.05 per Share, Driving Fifth Consecutive Quarter of Adjusted EBITDA Growth to $3.9 Million or $0.39 per Share
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http://phx.corporate-ir.net/phoenix.zhtml?c=117023&p=irol-newsArticle&ID=1316027&highlight=
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http://phx.corporate-ir.net/phoenix.zhtml?c=117023&p=irol-newsArticle&ID=1316027&highlight=
Thursday, May 14, 2009
Rubio's(r) Restaurants, Inc. Reports 2009 First Quarter Results
CARLSBAD, Calif., May 13, 2009 (GLOBE NEWSWIRE) -- Rubio's(r) Restaurants, Inc. (Nasdaq:RUBO) today announced financial results for the 13-week first quarter ended March 29, 2009.
First Quarter Results
Revenues rose 9.9% to $46.3 million from $42.2 million for the 13- week quarter in 2008.
Comparable store sales increased 1.9%, versus a comparable store sales decrease of 3.3% for the same quarter last year. The impact of increased average check more than offset a decline in customer visits.
Net income was $245,000 as compared to a net loss of $(745,000) for the same quarter last year.
Earnings per share was $0.02 per share as compared to a loss per share of $(0.07) for the same quarter last year.
Restaurant operating margins (see definition below) were 15.7% as compared to 13.7% for the same quarter last year. As a percentage of restaurant sales, restaurant labor remained consistent, while cost of sales decreased by 230 basis points and restaurant occupancy and other costs rose by 20 basis points.
Pre-opening expense decreased to $171,000 as compared to $219,000 for the same quarter last year. We opened 5 restaurants by early May of this year as compared to 7 by the same time last year.
General and administrative expenses were $4.1 million in the first quarter of 2009 compared to $4.6 million in the first quarter of 2008. Lower wages and wage-related expense due to our restructuring in Q1 of last year, lower non-cash stock compensation expenses and a reduction in costs associated with cancelled development deals were the primary drivers behind the improvement.
Adjusted EBITDA (see table below) increased 134.8% to $3.2 million from $1.4 million for the same quarter last year, driven by a $1.7 million increase in operating income.
Average unit volumes for the trailing 52 weeks were $1,008,000 as compared to $1,026,000 for the same quarter last year.
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First Quarter Results
Revenues rose 9.9% to $46.3 million from $42.2 million for the 13- week quarter in 2008.
Comparable store sales increased 1.9%, versus a comparable store sales decrease of 3.3% for the same quarter last year. The impact of increased average check more than offset a decline in customer visits.
Net income was $245,000 as compared to a net loss of $(745,000) for the same quarter last year.
Earnings per share was $0.02 per share as compared to a loss per share of $(0.07) for the same quarter last year.
Restaurant operating margins (see definition below) were 15.7% as compared to 13.7% for the same quarter last year. As a percentage of restaurant sales, restaurant labor remained consistent, while cost of sales decreased by 230 basis points and restaurant occupancy and other costs rose by 20 basis points.
Pre-opening expense decreased to $171,000 as compared to $219,000 for the same quarter last year. We opened 5 restaurants by early May of this year as compared to 7 by the same time last year.
General and administrative expenses were $4.1 million in the first quarter of 2009 compared to $4.6 million in the first quarter of 2008. Lower wages and wage-related expense due to our restructuring in Q1 of last year, lower non-cash stock compensation expenses and a reduction in costs associated with cancelled development deals were the primary drivers behind the improvement.
Adjusted EBITDA (see table below) increased 134.8% to $3.2 million from $1.4 million for the same quarter last year, driven by a $1.7 million increase in operating income.
Average unit volumes for the trailing 52 weeks were $1,008,000 as compared to $1,026,000 for the same quarter last year.
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