Ruth's Hospitality Group Inc.'s third-quarter loss narrowed, benefiting from fewer expenses and improved results at its Ruth's Chris Steak House restaurants.
The restaurant company that owns the famous Ruth's Chris chain also named President and CEO Michael P. O'Donnell as its chairman on Friday.
Read More:
Showing posts with label Ruths Chris. Show all posts
Showing posts with label Ruths Chris. Show all posts
Saturday, October 30, 2010
Sunday, August 1, 2010
Jury awards $34M to restaurant workers at harbor Ruth's Chris
A Baltimore jury on Wednesday awarded more than $34 million to 20 restaurant workers who claimed carbon monoxide exposure in a downtown hotel left them with permanent brain damage, leading to personality changes, memory problems and, in some cases, marital difficulties.
Area attorneys called the judgment phenomenal, particularly considering the level of disagreement over the scope of the injuries. It's likely to be reduced by millions, however: Maryland law places a $710,000 cap on pain-and-suffering damages in nonfatal cases like these, well below the awards some plaintiffs received. Jurors are not told about the cap.
Read More:
Area attorneys called the judgment phenomenal, particularly considering the level of disagreement over the scope of the injuries. It's likely to be reduced by millions, however: Maryland law places a $710,000 cap on pain-and-suffering damages in nonfatal cases like these, well below the awards some plaintiffs received. Jurors are not told about the cap.
Read More:
Friday, July 30, 2010
Ruth's Hospitality Group, Inc. Reports Second Quarter 2010 Financial Results
Total revenues were $89.0 million compared to prior year at $86.4 million.
Net income available to preferred and common shareholders was $3.7 million, or $0.09 per diluted share, compared to $2.3 million, or $0.10 per diluted share, in the second quarter of 2009. The second quarter of 2010 included a net benefit of $0.3 million or $0.01 per diluted share. The second quarter of 2009 included net charges of $0.7 million or $0.03 per diluted share.
Company-owned comparable restaurant sales for Ruth's Chris Steak House increased 2.9%. Company-owned comparable restaurant sales for Mitchell's Fish Market increased 0.9%.
Food and beverage costs, as a percentage of restaurant sales, increased 60 basis points to 29.3%, which was primarily driven by unfavorable beef costs.
Read More:
Net income available to preferred and common shareholders was $3.7 million, or $0.09 per diluted share, compared to $2.3 million, or $0.10 per diluted share, in the second quarter of 2009. The second quarter of 2010 included a net benefit of $0.3 million or $0.01 per diluted share. The second quarter of 2009 included net charges of $0.7 million or $0.03 per diluted share.
Company-owned comparable restaurant sales for Ruth's Chris Steak House increased 2.9%. Company-owned comparable restaurant sales for Mitchell's Fish Market increased 0.9%.
Food and beverage costs, as a percentage of restaurant sales, increased 60 basis points to 29.3%, which was primarily driven by unfavorable beef costs.
Read More:
Saturday, May 8, 2010
Ruth's Hospitality Group, Inc. Revises First Quarter 2010 Financial Results
HEATHROW, Fla., May 07, 2010 (BUSINESS WIRE) --Ruth's Hospitality Group, Inc. (NASDAQ: RUTH) today reported a revision to its unaudited financial results for the first quarter ended March 28, 2010. The Company updated its earnings release dated April 30, 2010 to include a pre-tax $0.6 million reduction to interest expense which increased net income available to preferred and common shareholders to $6.5 million for the period. This change is related to the treatment of deferred financing costs associated with the Company's recent debt amendment.
Read More:
Read More:
Wednesday, May 5, 2010
Ruth's Hospitality Group, Inc. Reports First Quarter 2010 Financial Results
Total revenues were flat compared to prior year at $94.7 million.
Net income available to common shareholders of $6.0 million, or $0.19 per diluted share, compared to $3.7 million, or $0.16 per diluted share, in the first quarter of 2009. Net income available to common shareholders for the first quarter of 2010 included a $0.7 million income tax benefit for a correction of an immaterial error related to certain prior year tax credits. Excluding this adjustment, net income available to common shareholders in the quarter was $0.17 per diluted share.
Company-owned comparable restaurant sales for Ruth's Chris Steak House decreased 0.5%. Company-owned comparable restaurant sales for Mitchell's Fish Market increased 2.4%.
Food and beverage costs, as a percentage of restaurant sales, decreased 80 basis points to 29.3%, which was primarily driven by favorable beef costs.
Read More:
Net income available to common shareholders of $6.0 million, or $0.19 per diluted share, compared to $3.7 million, or $0.16 per diluted share, in the first quarter of 2009. Net income available to common shareholders for the first quarter of 2010 included a $0.7 million income tax benefit for a correction of an immaterial error related to certain prior year tax credits. Excluding this adjustment, net income available to common shareholders in the quarter was $0.17 per diluted share.
Company-owned comparable restaurant sales for Ruth's Chris Steak House decreased 0.5%. Company-owned comparable restaurant sales for Mitchell's Fish Market increased 2.4%.
Food and beverage costs, as a percentage of restaurant sales, decreased 80 basis points to 29.3%, which was primarily driven by favorable beef costs.
Read More:
Friday, February 19, 2010
Ruth's Hospitality Group, Inc. Reports Fourth Quarter 2009 Financial Results
HEATHROW, Fla., Feb 19, 2010 (BUSINESS WIRE) -- Ruth's Hospitality Group, Inc. (NASDAQ: RUTH) today reported unaudited financial results for its fourth quarter ended December 27, 2009.
Highlights for the fourth quarter of 2009 compared to the fourth quarter of 2008 were as follows:
Total revenue decreased 9.9% to $87.4 million compared to $96.9 million in the fourth quarter of 2008.
Net loss of $2.7 million, or $0.11 per diluted share, compared to net loss of $60.7 million or $2.59 per diluted share in the fourth quarter of 2008. Excluding charges in both periods and on a tax adjusted basis, net income was $0.11 per diluted share in the fourth quarter of 2009 compared to $0.04 per diluted share in the fourth quarter of 2008. (See attached reconciliation).
Company-owned comparable restaurant sales for Ruth's Chris Steak House decreased 11.2%. Company-owned comparable restaurant sales for Mitchell's Fish Market decreased 2.5%.
Read more:
Highlights for the fourth quarter of 2009 compared to the fourth quarter of 2008 were as follows:
Total revenue decreased 9.9% to $87.4 million compared to $96.9 million in the fourth quarter of 2008.
Net loss of $2.7 million, or $0.11 per diluted share, compared to net loss of $60.7 million or $2.59 per diluted share in the fourth quarter of 2008. Excluding charges in both periods and on a tax adjusted basis, net income was $0.11 per diluted share in the fourth quarter of 2009 compared to $0.04 per diluted share in the fourth quarter of 2008. (See attached reconciliation).
Company-owned comparable restaurant sales for Ruth's Chris Steak House decreased 11.2%. Company-owned comparable restaurant sales for Mitchell's Fish Market decreased 2.5%.
Read more:
Wednesday, January 6, 2010
Ruth’s Hospitality: Sales decline stabilized
HEATHROW, Fla. (Jan. 5, 2009) Ruth’s Hospitality Group Inc. gave investors a glimmer of stabilization late Monday as its fourth-quarter preliminary report indicated a slowing in its same-store sales slide.
The parent of Ruth’s Chris Steak House said same-store sales at corporate units of the signature brand for the Dec. 27-ended quarter fell 11.2 percent, compared with an 18.7 percent decline in the same quarter of 2008. At market close Tuesday, Ruth’s shares were up a penny from the day earlier, or 0.41 percent, to $2.43. A day earlier the stock had spiked after an analyst said business spending may be increasing and help boost fine-dining sales.
Read more:
The parent of Ruth’s Chris Steak House said same-store sales at corporate units of the signature brand for the Dec. 27-ended quarter fell 11.2 percent, compared with an 18.7 percent decline in the same quarter of 2008. At market close Tuesday, Ruth’s shares were up a penny from the day earlier, or 0.41 percent, to $2.43. A day earlier the stock had spiked after an analyst said business spending may be increasing and help boost fine-dining sales.
Read more:
Tuesday, December 29, 2009
Ruth Improves Financial Position
Ruth’s Hospitality Group Inc. (NasdaqGS: RUTH - News), the operator of upscale casual-dining chains, in order to improve its financial position and flexibility has taken prudent steps to raise $69.7 million through a stock sale to a private equity firm, a right offering to existing shareholders and the sale of its headquarters building.
Read more:
Read more:
Tuesday, December 22, 2009
Ruth's Hospitality Group, Inc. Announces Proposed Transactions Intended to Strengthen the Company's Financial Position and Improve its Flexibility
HEATHROW, Fla.--(BUSINESS WIRE)--Ruth’s Hospitality Group, Inc. (NASDAQ: RUTH - News) today announced that it has entered into agreements with a new investor and with the current lenders under its existing credit facility that are intended to strengthen the Company’s balance sheet and improve its operating and financial flexibility.
Read more:
Read more:
Friday, October 30, 2009
Ruth's Hospitality Group, Inc. Reports Third Quarter 2009 Financial Results
Total revenue decreased 21.4% to $77.8 million compared to $98.9 million in the third quarter of 2008.
Net loss of $1.0 million or $0.04 per diluted share compared to a net loss of $0.5 million or $0.02 per diluted share in the third quarter of 2008.
Company-owned comparable restaurant sales for Ruth's Chris Steak House decreased 24.0%. Company-owned comparable restaurant sales for Mitchell's Fish Market decreased 12.3%.
Food and beverage costs, as a percentage of restaurant sales, decreased 330 basis points to 28.5% primarily driven by favorable beef costs.
Restaurant operating expenses, as a percentage of restaurant sales, increased 410 basis points to 57.5% resulting from the effect of fixed costs related to lower sales volumes.
Read more:
Net loss of $1.0 million or $0.04 per diluted share compared to a net loss of $0.5 million or $0.02 per diluted share in the third quarter of 2008.
Company-owned comparable restaurant sales for Ruth's Chris Steak House decreased 24.0%. Company-owned comparable restaurant sales for Mitchell's Fish Market decreased 12.3%.
Food and beverage costs, as a percentage of restaurant sales, decreased 330 basis points to 28.5% primarily driven by favorable beef costs.
Restaurant operating expenses, as a percentage of restaurant sales, increased 410 basis points to 57.5% resulting from the effect of fixed costs related to lower sales volumes.
Read more:
Saturday, August 1, 2009
Ruth's Hospitality Group, Inc. Reports Second Quarter 2009 Financial Results
HEATHROW, Fla., Jul 31, 2009 (BUSINESS WIRE) -- Ruth's Hospitality Group, Inc. (NASDAQ: RUTH) today reported unaudited results for its second quarter ended June 28, 2009.
Highlights for the second quarter 2009 compared to the second quarter 2008 were as follows:
Total revenue decreased 17.9% to $88.4 million compared to $107.6 million in the second quarter of 2008.
Net income decreased 15.6% to $2.3 million, or $0.10 per diluted share compared to $2.8 million or $0.12 per diluted share in the second quarter of 2008. There were charges of $0.7 million in the second quarter of 2009 and $0.2 million in the second quarter of 2008, respectively, which resulted in adjusted earnings of $0.13 per diluted share in both periods.
Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=190038&p=irol-newsArticle&ID=1314885&highlight=
Highlights for the second quarter 2009 compared to the second quarter 2008 were as follows:
Total revenue decreased 17.9% to $88.4 million compared to $107.6 million in the second quarter of 2008.
Net income decreased 15.6% to $2.3 million, or $0.10 per diluted share compared to $2.8 million or $0.12 per diluted share in the second quarter of 2008. There were charges of $0.7 million in the second quarter of 2009 and $0.2 million in the second quarter of 2008, respectively, which resulted in adjusted earnings of $0.13 per diluted share in both periods.
Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=190038&p=irol-newsArticle&ID=1314885&highlight=
Friday, June 26, 2009
Ruth’s Hospitality Group, Inc. Announces Shelf Registration Declared Effective by the Securities and Exchange Commission
Thursday, June 4, 2009
Tuesday, May 5, 2009
Ruth's Hospitality Group, Inc. Reports First Quarter 2009 Financial Results
HEATHROW, Fla., May 05, 2009 (BUSINESS WIRE) -- Ruth's Hospitality Group, Inc. (NASDAQ:RUTH) today reported unaudited results for its first quarter ended March 29, 2009. Highlights for the first quarter 2009 compared to the first quarter 2008 were as follows:
Total revenue decreased 1.1% to $97.5 million from $98.6 million, including $19.9 million from the Mitchell's acquisition completed on February 19, 2008. The Mitchell's acquisition generated $9.9 million in restaurant sales for the Company in the prior year first quarter.
Net income of $3.7 million, or $0.16 per diluted share, compared to net income of $4.5 million, or $0.19 per diluted share in the prior year first quarter.
Total revenue decreased 1.1% to $97.5 million from $98.6 million, including $19.9 million from the Mitchell's acquisition completed on February 19, 2008. The Mitchell's acquisition generated $9.9 million in restaurant sales for the Company in the prior year first quarter.
Net income of $3.7 million, or $0.16 per diluted share, compared to net income of $4.5 million, or $0.19 per diluted share in the prior year first quarter.
