Saturday, May 23, 2009
Friday, May 22, 2009
Red Robin Gourmet Burgers Reports Earnings for the Fiscal First Quarter 2009
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--May. 21, 2009-- 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, today reported financial results for the 16 weeks ended April 19, 2009.
Financial and Operational Highlights
Highlights for the 16 weeks ended April 19, 2009, compared to the 16 weeks ended April 20, 2008, are as follows:
- Total revenues increased 6.0% to $270.8 million.
- Restaurant revenue increased 6.3% to $266.6 million.
- Company-owned comparable restaurant sales decreased 8.1%.
- Restaurant-level operating profit decreased 1.7% to $47.1 million.
- GAAP diluted earnings per share were $0.25, which included $0.19 per diluted share in compensation expense related to the Company’s tender offer for certain stock options, and $0.03 per diluted share in costs related to the closing of four company-owned restaurants, vs. $0.43 in the fiscal first quarter a year ago.
- A total of nine new Red Robin® restaurants, seven company-owned and two franchised locations, were opened during the fiscal first quarter 2009.
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Financial and Operational Highlights
Highlights for the 16 weeks ended April 19, 2009, compared to the 16 weeks ended April 20, 2008, are as follows:
- Total revenues increased 6.0% to $270.8 million.
- Restaurant revenue increased 6.3% to $266.6 million.
- Company-owned comparable restaurant sales decreased 8.1%.
- Restaurant-level operating profit decreased 1.7% to $47.1 million.
- GAAP diluted earnings per share were $0.25, which included $0.19 per diluted share in compensation expense related to the Company’s tender offer for certain stock options, and $0.03 per diluted share in costs related to the closing of four company-owned restaurants, vs. $0.43 in the fiscal first quarter a year ago.
- A total of nine new Red Robin® restaurants, seven company-owned and two franchised locations, were opened during the fiscal first quarter 2009.
(click on link to read more)
Thursday, May 21, 2009
DiCaprio Statue, $30 Rooms Boost Japan’s Love Hotels
A true financial success story. Full year Occpupancy of 250%
Japan Leisure Hotels (AIM: JPLH) announces its final results for the year ended 31 December 2008. JPLH's current portfolio comprises 6 hotels with 242 rooms.
SUMMARY
* Successful first full year of trading notwithstanding current economic climate; occupancy rates of the portfolio over 250% for 2008 *
* EBITDA margin before asset management fees increased to 34.5% in 2008 from 32% in 2007 *
* Cash from operations in 2008 of JP¥213 million (£1.1 million); cash position of approximately JP¥260 million (£2.0 million) as at 31 December 2008 with no debt
Japan Leisure Hotels (AIM: JPLH) announces its final results for the year ended 31 December 2008. JPLH's current portfolio comprises 6 hotels with 242 rooms.
SUMMARY
* Successful first full year of trading notwithstanding current economic climate; occupancy rates of the portfolio over 250% for 2008 *
* EBITDA margin before asset management fees increased to 34.5% in 2008 from 32% in 2007 *
* Cash from operations in 2008 of JP¥213 million (£1.1 million); cash position of approximately JP¥260 million (£2.0 million) as at 31 December 2008 with no debt
CKE Restaurants, Inc. Reports Fiscal 2009 Net Income of $37.0 Million, an 18.9 Percent Increase over Prior Year
Fiscal 2009 Financial Highlights
The Company increased its income from continuing operations $1.9 million to $37.0 million, or $0.69 per diluted share, versus $35.1 million, or $0.57 per diluted share, in the prior year.
The Company increased its net income $5.9 million to $37.0 million, or $0.69 per diluted share, versus $31.1 million, or $0.50 per diluted share, in the prior year.
The Company recorded $9.0 million in interest expense resulting from mark-to-market adjustments related to our interest rate swap agreements versus $11.4 million in the prior year. Absent these adjustments, diluted earnings per share in fiscal 2009 would have been $0.79 versus $0.62 in the prior year.
Company-operated restaurants increased their blended same-store sales 1.7 percent. Carl’s Jr.® and Hardee’s® company-operated restaurants increased their same-store sales 2.1 and 1.2 percent, respectively.
Company-operated restaurants increased their blended average unit volume for the trailing-13 periods to $1,232,000. Carl’s Jr. and Hardee’s company-operated restaurants increased their average unit volumes to $1,528,000 and $993,000, respectively, for the trailing-13 periods.
The Company increased earnings before interest, income taxes, depreciation and amortization, facility action charges and share-based compensation expense (“Adjusted EBITDA”) by $2.3 million, to $167.3 million, versus $164.9 million in the prior year.
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The Company increased its income from continuing operations $1.9 million to $37.0 million, or $0.69 per diluted share, versus $35.1 million, or $0.57 per diluted share, in the prior year.
The Company increased its net income $5.9 million to $37.0 million, or $0.69 per diluted share, versus $31.1 million, or $0.50 per diluted share, in the prior year.
The Company recorded $9.0 million in interest expense resulting from mark-to-market adjustments related to our interest rate swap agreements versus $11.4 million in the prior year. Absent these adjustments, diluted earnings per share in fiscal 2009 would have been $0.79 versus $0.62 in the prior year.
Company-operated restaurants increased their blended same-store sales 1.7 percent. Carl’s Jr.® and Hardee’s® company-operated restaurants increased their same-store sales 2.1 and 1.2 percent, respectively.
Company-operated restaurants increased their blended average unit volume for the trailing-13 periods to $1,232,000. Carl’s Jr. and Hardee’s company-operated restaurants increased their average unit volumes to $1,528,000 and $993,000, respectively, for the trailing-13 periods.
The Company increased earnings before interest, income taxes, depreciation and amortization, facility action charges and share-based compensation expense (“Adjusted EBITDA”) by $2.3 million, to $167.3 million, versus $164.9 million in the prior year.
(click on link to read more)
Downtown Miami Slated to Welcome Another New Hotel This Fall
Why don't they convert some of the empty Condo buildings into hotels?
Gaylord Entertainment Co. Reports First Quarter 2009 Results
Segment Operating ResultsHospitalityKey components of the Company’s hospitality segment performance in the first quarter of 2009 include:
Same-store RevPAR decreased 22.0 percent to $104.80 in the first quarter of 2009 compared to $134.34 in the prior-year quarter. Same-store Total RevPAR decreased 18.6 percent to $263.35 in the first quarter compared to $323.64 in the prior-year quarter. In the first quarter of 2009, the Gaylord National generated RevPAR and Total RevPAR of $139.33 and $312.24, respectively.
Same-store CCF decreased 32.2 percent to $37.9 million compared to $55.8 million in the prior-year-quarter. Same-Store CCF results for the first quarter 2009 included approximately $2.6 million of special expense related to severance costs. In the first quarter of 2009, the Gaylord National generated CCF of $14.8 million which was adversely impacted by approximately $0.3 million of expense related to severance costs.
Same-store attrition in the first quarter was 16.7 percent compared to 11.1 percent for the same period in 2008. Same-store attrition and cancellation fee collections totaled $6.1 million in the quarter compared to $1.8 million for the same period last year. Gaylord National attrition was 16.9 percent in the quarter and fee collections for attrition and cancellation at the Gaylord National totaled $1.5 million in the quarter.
(click on link to read more)
Same-store RevPAR decreased 22.0 percent to $104.80 in the first quarter of 2009 compared to $134.34 in the prior-year quarter. Same-store Total RevPAR decreased 18.6 percent to $263.35 in the first quarter compared to $323.64 in the prior-year quarter. In the first quarter of 2009, the Gaylord National generated RevPAR and Total RevPAR of $139.33 and $312.24, respectively.
Same-store CCF decreased 32.2 percent to $37.9 million compared to $55.8 million in the prior-year-quarter. Same-Store CCF results for the first quarter 2009 included approximately $2.6 million of special expense related to severance costs. In the first quarter of 2009, the Gaylord National generated CCF of $14.8 million which was adversely impacted by approximately $0.3 million of expense related to severance costs.
Same-store attrition in the first quarter was 16.7 percent compared to 11.1 percent for the same period in 2008. Same-store attrition and cancellation fee collections totaled $6.1 million in the quarter compared to $1.8 million for the same period last year. Gaylord National attrition was 16.9 percent in the quarter and fee collections for attrition and cancellation at the Gaylord National totaled $1.5 million in the quarter.
(click on link to read more)
