Brazil Fast Food Reports Improved 3rd Quarter/Nine-Month Results.Business Editors RIO DE JANEIRO Rio de Janeiro, city, Brazil Rio de Janeiro (rē`ō də zhänā`rō, Port. rē`  thĭ zhənĕē`r , Brazil--(BUSINESS WIRE)--Nov. 16, 2000
Company Nearly Triples EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become and Drastically Reduces Net Loss Brazil Fast Food Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on SmallCap: BOBS), the second largest fast-food chain operator in Brazil, with 210 point of sales, today reported operating results for its third quarter ended September 30, 2000. System-wide gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. for the chain increased 23 percent to R$37.2 million for the third quarter of 2000, from R$30.3 million for the same period of the prior year. Same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of were up seven percent for the third quarter of 2000 from the previous year's third quarter. Total net operating revenue operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. for the third quarter of 2000 rose 18 percent to R$17.6 million, from R$14.9 million for the same period of the prior year. EBITDA were R$928,000 for the three months ended September 30 versus R$314,000 for the third quarter of the previous year - an increase of 196 percent. The Company's net loss was R$(824,000), or R$(.25) per basic and diluted share, for 2000's third quarter, compared with a net loss of R$(1,959,000), or R$(.61) per basic and diluted share, for the third quarter of 1999. The breakdown of the net loss is as follows: For the third quarter of 2000 and 1999, respectively, the Company reported income from operations of R$14 versus a loss of R$(485), interest expense of R$(683) versus R$(924), and a foreign exchange loss of R$(155) versus R$(550). Total net operating revenue for the nine months ended September 30 increased 13 percent to R$50.8 million, from R$45.0 million for the same period of the prior year. Earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of R$(196,000) for the nine months ended September 30, 2000 - an improvement of R$1,184,000 from the R$(1,380,000) net operating loss of for the first nine months of 1999. The net loss for the nine months ended September 30, 2000, was R$(2.2) million, or R$(.69) per basic and diluted share, compared to R$(6.5) million, or R$(2.00) per basic and diluted share for the first nine months of 1999. Peter van Voorst Vader, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Brazil Fast Food Corp., commented, "It is very gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. to see our strategies affecting our numbers in such a meaningful and positive way. We have continued our focus on expanding our chain and have stepped up our efforts to ensure the success of each individual store with effective marketing campaigns and new services, such as our recently announced Internet-based delivery program. And, of course, we remain committed to offering variety, flexibility and high-quality, great-tasting food." Brazil Fast Food currently has 210 point of sales in its chain. Brazil Fast Food Corp., through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Venbo Comercio de Alimentos Ltda., a limited liability company that conducts business under the trade name "Bob's," owns and operates (both directly and through franchisees) the second largest chain of hamburger fast food restaurants in Brazil. This press release may contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , which are subject to change. Actual results may differ from those described in any forward-looking statements. Additional information concerning potential factors that could affect the Company's financial results are included in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999.
BRAZIL FAST FOOD CORP.
Financial Highlights (Unaudited)1
(In thousands, except shares and earnings per share)
For the Three For the Nine
Months Ended Months Ended
9/30/00 9/30/99 9/30/00 9/30/99
System-Wide Sales R$37,156 R$30,298 R$110,130 R$89,744
Net Operating Revenue 17,559 14,852 50,828 45,008
EBITDA (2) 928 314 2,477 986
Income (Loss) From Operations 14 (485) (196) (1,380)
Interest Expense (683) (924) (1,893) (2,960)
Foreign Exchange Gain (Loss) (155) (550) (146) (2,145)
----- ----- ----- ------
Net Income (Loss) (824) (1,959) (2,235) (6,485)
Net (loss) Per Share,
Basic and Diluted R$(.25) R$(.61) R$(.69) R$(2.00)
Weighted Average
Shares Outstanding 3,235,290 3,235,290 3,235,290 3,235,290
1. Expressed in Brazilian Reais. 2. Earnings before interest, taxes, depreciation and amortization. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion