Printer Friendly
The Free Library
4,491,416 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Brinker International Inc. reports revenues.


DALLAS--(BUSINESS WIRE)--Aug. 31, 1995--Brinker International, Inc. reports revenues up 17.6 percent and net income up 16.7 percent for the year ended June 28, 1995.

Revenues for the year ended June 28, 1995, rose 17.6 percent to $1,042.2 million from $886.0 million reported for the same period last year. Fiscal 1995 comparable store sales decreased 0.3 percent compared to the same 12 month period of fiscal 1994. Income Before Income Taxes increased to $111.4 million, 15.4 percent above the $96.5 million reported in fiscal 1994. Net income rose 16.7 percent from $62.3 million to $72.7 million, while primary net income per share increased 18.1 percent from $0.83 to $0.98.

Brinker currently owns and operates six restaurant concepts under the names Chili's Grill & Bar ("Chili's"), Grady's American Grill ("Grady's"), Romano's Macaroni macaroni: see pasta. Grill ("Macaroni Grill"), On The Border Cafes ("On The Border"), Spageddies Italian Kitchen ("Spageddies"), and Cozymel's - A Very Mexican Grill ("Cozymel's").

At year end, Chili's system-wide restaurants totaled 424 units operating in 45 states, Canada, Mexico, Singapore, Malaysia, Australia, Egypt, Puerto Rico, France and Indonesia. In addition, 44 Grady's, 51 Macaroni Grill, 21 On The Border, 16 Spageddies, and three Cozymel's restaurants are currently open system-wide.

During the past year, Brinker entered into an international franchise agreement which will bring Chili's to Great Britain in fiscal 1996. In fiscal 1995, the first Chili's restaurants opened in Egypt (July 1994), Australia (August 1994), Puerto Rico (September 1994), France (February 1995), and Indonesia (May 1995).

Chili's restaurants are full-service restaurants featuring a casual atmosphere and a limited menu of freshly prepared chicken, beef and seafood entrees, hamburgers, ribs, fajitas, sandwiches, salads, appetizers, desserts and a full-service bar. Grady's restaurants are casual, upscale restaurants that feature fresh seafood, prime rib, steaks, pasta, 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 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)


                                         Year Ended        Year Ended
                                       June 28, 1995     June 29, 1994
                                       -------------     -------------
   Revenues                             $ 1,042,199       $   886,040
   Income Before Provision
     For Income Taxes                   $   111,420       $    96,542
   Net Income                           $    72,744       $    62,319
   Primary Net Income Per Share         $      0.98       $      0.83
   Primary Weighted Average
     Shares Outstanding                      74,283            74,947-0-


Prior year financial results have been restated to reflect the acquisition of three restaurants from a franchisee accounted for as a pooling of interests. -0-

BRINKER INTERNATIONAL, INC.
                    CONSOLIDATED STATEMENTS OF INCOME
                (In thousands, except per share amounts)
                              (Unaudited)




                                        Year Ended        Year Ended
                                      June 28, 1995     June 29, 1994
                                      -------------     -------------


   Revenues                            $ 1,042,199       $   886,040
                                       -----------       -----------
   Costs and Expenses:
      Cost of Sales                        283,417           241,950
      Restaurant Expenses                  540,986           451,029
      Depreciation and Amortization         58,570            51,570
      General and Administrative            50,362            45,659
      Interest Expense                         595               441
      Merger Expenses                           --             1,949
      Injury Claim Settlement                   --             2,248
      Other, Net                           (3,151)           (5,348)
                                        -----------       -----------
         Total Costs and Expenses          930,779           789,498
                                        -----------       -----------
   Income Before Provision for
    Income Taxes                           111,420            96,542


   Provision for Income Taxes               38,676            34,223
                                        -----------       -----------
         Net Income                    $    72,744       $    62,319
                                        ===========       ===========
   Primary Net Income Per Share        $      0.98       $      0.83
                                        ===========       ===========
   Primary Weighted Average Shares
    Outstanding                             74,283            74,947
                                        ===========       ===========


-0-

Prior year financial results have been restated to reflect the acquisition of three restaurants from a franchisee accounted for as a pooling of interests. -0-

BRINKER INTERNATIONAL, INC.
                             UNITS SUMMARY




                                               Net
                  June 29, 1994  Openings  Acquisitions  June 28, 1995
                  -------------  --------  ------------  -------------
Company Units
 Chili's                    277        36             3            316
 Macaroni Grill              34        16             0             50
 Grady's                     34        11            (1)            44
 Spageddies                   6         6             0             12
 On The Border               14         2             0             16
 Test Concept                 1         0             0              1
                  -------------  --------  ------------  -------------
                            366        71             2            439
                  =============  ========  ============  =============


JV/Franchise Units
 Chili's                     83        30            (5)           108
 Macaroni Grill               1         0             0              1
 Spageddies                   0         4             0              4
 On The Border                7         0            (2)             5
 Cozymel's                    1         2             0              3
                  -------------  --------  ------------  -------------
                             92        36            (7)           121
                  =============  ========  ============  =============
Total Units
 Chili's                    360        66            (2)           424
 Macaroni Grill              35        16             0             51
 Grady's                     34        11            (1)            44
 Spageddies                   6        10             0             16
 On The Border               21         2            (2)            21
 Cozymel's                    1         2             0              3
 Test Concept                 1         0             0              1
                  -------------  --------  ------------  -------------
                            458       107            (5)           560
                      =============  ========  ============  =============


CONTACT: Debra Smithart, executive vice president

and chief financial officer,

Brinker International, Inc.

214/980-9917
COPYRIGHT 1995 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Aug 31, 1995
Words:795
Previous Article:Carlyle Golf Inc. reports improved fiscal 1995 third-quarter and nine-month results.
Next Article:Kimsey, Maddox, Turner elected to BTG Board of Directors.
Topics:



Related Articles
Consolidating the stone: new compounds may protect statues and buildings from weather damage.(Cover Story)
New law expands IRA deduction for homemakers.(Brief Article)
Undaunted, National chains eye L.A. (Up front).(restaurant business in Los Angeles)(Brief Article)
DRUGS, ALCOHOL, FRACTURES MAY BE LINKED.(L.A. LIFE)(Statistical Data Included)
LOW-FAT OFFERINGS FAIL TO BRING HOME BACON FOR RESTAURANT CHAINS.(FOOD)
For whom the registers toll: Grove's success incomplete. (Up Front).(The Grove at Farmers Market)
Katz & Associates. (Who's News: Management Personnel).(Leslie B. Collins named director of real estate for the Southern region)(Brief Article)
Restaurant takes slow and steady approach in plans for expansion.(Up Front)
Restaurants: hungry for growth & profits; Success in the restaurant industry hinges on delivering profits to stakeholders by serving more customers,...
For the Love of Greys.(Brief Article)(Book Review)

Terms of use | Copyright © 2008 Farlex, Inc. | Feedback | For webmasters | Submit articles