BRINKER INTERNATIONAL, INC. REPORTS REVENUES UP 18.6% AND NET INCOME UP 13.0% FOR THE THIRD FISCAL QUARTER; NINE MONTHS NET INCOME INCREASED 19.5% WHILE REVENUES INCREASED 17.7%.DALLAS--(BUSINESS WIRE)-- April 18, 1995--Brinker International, Inc. ("Brinker") reported revenues of $268.5 million for the third quarter ended March 29, 1995, an increase of 18.6 percent over the $226.4 million reported for the same quarter of fiscal 1994. Income before income taxes increased to $27.7 million, 10.5 percent above the $25.1 million reported in fiscal 1994. Net income rose 13.0 percent from $16.1 million to $18.2 million, while primary net income per share increased 19.0 percent from $0.21 to $0.25. Revenues for the nine month period ended March 29, 1995 rose 17.7 percent to $762.2 million from $647.8 million reported for the same period last fiscal year. Income before income taxes increased to $81.2 million, 18.7 percent above the $68.4 million reported in fiscal 1994. Net income increased 19.5 percent to $52.9 million from $44.3 million, while primary net income per share increased 20.3 percent from $0.59 to $0.71. Brinker currently owns and operates six restaurant concepts under the names of Chili's Chili's Grill & Bar is a chain of over 1,000 casual dining restaurants, most located in the United States. It was founded by Larry Lavine and is currently owned by Brinker International, which also owns On the Border Mexican Grill & Cantina, Maggiano's Little Italy, and Romano's Grill Grill may refer to: In food:
named after or originating in Mexico. Mexican axolotl see ambystomamexicanum. Mexican beaded lizard (Heloderma horridum Grill ("Cozymel's"). Brinker's reported comparable store sales for Chili's, Grady's, and Macaroni Grill changed (0.8 percent), (1.2 percent), and 1.8 percent, respectively, in the third quarter and (0.2 percent), (1.2 percent), and 2.0 percent, respectively, year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. compared to fiscal 1994. Brinker opened 10 company-operated Chili's restaurants and seven franchised Chili's units during the quarter. The new openings increase the total number of Chili's system-wide restaurants to 414 operating in 45 states, Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of , Mexico Mexico, city, Mexico Mexico or Mexico City, Span. Ciudad de México (Méjico), city (1990 pop. 8,236,960; 1991 met. area est. 20,899,000), central Mexico, capital and largest city of Mexico. , Singapore Singapore (sĭng`gəpôr, sĭng`ə–, sĭng'gəpôr`), officially Republic of Singapore, republic (2005 est. pop. 4,426,000), 240 sq mi (625 sq km). , Malaysia Malaysia (məlā`zhə), independent federation (2005 est. pop. 23,953,000), 128,430 sq mi (332,633 sq km), Southeast Asia. The official capital and by far the largest city is Kuala Lumpur; Putrajaya is the adminstrative capital. , Australia Australia (ôstrāl`yə), smallest continent, between the Indian and Pacific oceans. With the island state of Tasmania to the south, the continent makes up the Commonwealth of Australia, a federal parliamentary state (2005 est. pop. , Egypt Egypt (ē`jĭpt), Arab. Misr, biblical Mizraim, officially Arab Republic of Egypt, republic (2005 est. pop. 77,506,000), 386,659 sq mi (1,001,449 sq km), NE Africa and SW Asia. , Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. , and France. Brinker plans to open four company-operated Chili's restaurants and seven franchised units during the fourth quarter. In addition, Brinker has international franchise agreements which will bring Chili's to Indonesia Indonesia (ĭn'dənē`zhə), officially Republic of Indonesia, republic (2005 est. pop. 241,974,000), c.735,000 sq mi (1,903,650 sq km), SE Asia, in the Malay Archipelago. and Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. within the next six months. System-wide, two Grady's, four Macaroni Grill, one On The Border, three Spageddies, and two Cozymel's restaurants were opened during the third quarter. In addition to the 41 Grady's, 50 Macaroni Grill, 21 On The Border, 13 Spageddies, and three Cozymel's restaurants currently open system-wide, Brinker anticipates opening three Grady's, one Macaroni Grill, and three Spageddies restaurants during the fourth quarter. Chili's restaurants are full-service full-ser·vice adj. Associated with or offering complete service: full-service gasoline pumps; full-service banks. restaurants featuring a casual atmosphere and a limited menu of freshly prepared chicken, beef, and seafood seafood Edible aquatic animals excluding mammals, but including both freshwater and ocean creatures. Seafood includes bony and cartilaginous fishes, crustaceans, mollusks, edible jellyfish, sea turtles, frogs, sea urchins, and sea cucumbers. entrees, hamburgers, ribs, fajitas fajitas Noun, pl a Mexican dish of soft tortillas wrapped around fried strips of meat or vegetables [Mexican Spanish] , sandwiches, salads, appetizers, desserts, and a full-service bar. Grady's restaurants are casual, upscale restaurants that feature fresh seafood, prime rib, steaks, pasta While the only basic difference between these names is the shape of the pasta, each pasta is typically matched with a particular sauce based on cooking time, consistency, ability to hold sauce, ease of eating, etc. , salads, sandwiches, appetizers, desserts, and a full-service bar. Macaroni Grill restaurants are full-service Italian restaurants featuring appetizers, salads, seafood, meat and pasta entrees, desserts, and a full- service bar. On The Border restaurants are full-service, casual, Tex-Mex theme restaurants featuring Southwest mesquite-grilled specialties and a full-service bar. Spageddies restaurants are casual, full-service, modest-priced Italian restaurants featuring appetizers, salads, pasta, rotisserie chicken, steak, desserts, and a full-service bar. Cozymel's restaurants are casual, upscale, authentic Mexican restaurants featuring fish, chicken, beef, and pork pork, flesh of swine prepared as food, one of the principal commodities of the meatpacking industry. Pork has long been a staple food in most of the world, although religious taboos have limited its use, especially among Jews and Muslims. entrees, appetizers, and a full-service bar featuring a variety of frozen beverages. -0-
BRINKER INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share amounts)
(Unaudited)
13 Weeks Ended 13 Weeks Ended
March 29, 1995 March 30, 1994
-------------- --------------
Revenues $268,487 $226,440
Income Before Provision for Income Taxes $ 27,722 $ 25,097
Net Income $ 18,241 $ 16,146
Primary Net Income Per Share $0.25 $0.21
Primary Weighted Average Shares Outstanding 74,110 75,199
39 Weeks Ended 39 Weeks Ended
March 29, 1995 March 30, 1994
-------------- --------------
Revenues $762,167 $647,774
Income Before Provision for Income Taxes $ 81,204 $ 68,438
Net Income $ 52,860 $ 44,252
Primary Net Income Per Share $0.71 $0.59
Primary Weighted Average Shares Outstanding 74,414 74,921
Prior year financial results have been restated to reflect the
acquisition of three restaurants from a franchisee accounted for as
a pooling of interests.
BRINKER INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share amounts)
(Unaudited)
Thirteen Week Periods Thirty-nine Week Periods
Ended Ended
Mar. 29, Mar. 30, Mar. 29, Mar. 30,
1995 1994 1995 1994
-------- -------- -------- --------
Revenues $268,487 $226,440 $762,167 $647,774
-------- -------- -------- --------
Costs and Expenses:
Cost of Sales 71,640 61,674 205,013 177,907
Restaurant Expenses 141,726 115,283 397,048 330,761
Depreciation and
Amortization 15,061 13,394 43,010 37,837
General and
Administrative 12,993 11,262 37,855 33,847
Interest Expense -- 111 -- 354
Merger Expenses -- 601 -- 835
Lawsuit Settlement -- -- -- 2,248
Other, Net (655) (982) (1,963) (4,453)
-------- -------- -------- --------
Total Costs and
Expenses 240,765 201,343 680,963 579,336
-------- -------- -------- --------
Income Before Provision
for Income Taxes 27,722 25,097 81,204 68,438
Provision for Income
Taxes 9,481 8,951 28,344 24,186
-------- -------- -------- --------
Net Income $ 18,241 $ 16,146 $ 52,860 $ 44,252
======== ======== ======== ========
Primary Net Income
Per Share $ 0.25 $ 0.21 $ 0.71 $ 0.59
======== ======== ======== ========
Primary Weighted Average
Shares Outstanding 74,110 75,199 74,414 74,921
======== ======== ======== ========
Prior year financial results have been restated to reflect the
acquisition of three restaurants from a franchisee accounted for as a
pooling of interests.
BRINKER INTERNATIONAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share amounts)
(Unaudited)
March 29, 1995 June 29, 1994
-------------- -------------
Current Assets $ 50,394 $ 46,863
Net Property 525,280 434,234
Other Assets 65,972 77,338
-------- --------
Total Assets $641,646 $558,435
======== ========
Current Liabilities $128,463 $101,742
Long-term Liabilities 39,280 39,316
Shareholders' Equity 473,903 417,377
-------- --------
Total Liabilities and
Shareholders' Equity $641,646 $558,435
======== ========
CONTACT: Brinker International Inc. Debra Smithart, 214/980-9917 |
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