Brinker International Announces Preliminary Second Quarter Fiscal 2008 EPS From Continuing Operations, Before Special Items, and
07 Gennaio 2008 - 11:30PM
PR Newswire (US)
DALLAS, Jan. 7 /PRNewswire-FirstCall/ -- Brinker International,
Inc. (NYSE:EAT) today estimates earnings per diluted share from
continuing operations, before special items, of $0.30 to $0.31 for
the company's second quarter ended Dec. 26, 2007 as compared to
earnings per diluted share from continuing operations, before
special items, of $0.33 for the second quarter of fiscal 2007. For
the second quarter of fiscal 2008, special items of approximately
$0.13 per diluted share consist primarily of a gain on the sale of
restaurants to a franchisee, partially offset by charges for the
impairment of long-lived assets. For the second quarter of fiscal
2007, special items of ($0.01) were related to impairment charges
for restaurant closures. As a result, the company estimates
earnings per diluted share from continuing operations on a GAAP
basis to be $0.43 to $0.44 for the second quarter of fiscal 2008
compared to $0.32 for the second quarter of the prior year. For the
second quarter of fiscal 2008, earnings before special items were
primarily impacted by a decrease in Brinker comparable restaurant
sales of approximately 2 percent (see Table 1) and the associated
impact of sales deleverage on fixed costs. "It is obviously a very
challenging time for our business, and we are not at all satisfied
with our results. While we are confident we are focused on the
right fundamentals to deliver what our guests are looking for, we
will continue to look for additional opportunities to meet our
guests' current needs and capitalize on future consumer trends,"
said Doug Brooks, Chairman and CEO of Brinker International. Table
1: Q2 preliminary comparable restaurant sales Q2 08 and Q2 07,
company and three reported brands; percentage Q2 08 Q2 07 Q2 08
Comparable Comparable Pricing Q2 08 Sales Sales Impact Mix-Shift
Brinker International(1) (2.1) (1.4) 2.8 0.3 Chili's (2.4) (1.2)
2.8 0.9 On The Border (4.3) (3.6) 2.2 0.1 Maggiano's 1.7 (1.3) 3.1
(2.7) (1) Brinker International preliminary comparable restaurant
sales exclude the impact of Macaroni Grill. Forward Calendar --
Second quarter earnings release, before market opens on Jan. 23,
2008. -- Second quarter conference call, via a live webcast on Jan.
23, 2008. At the end of the first quarter of fiscal 2008, Brinker
International either owned, operated, or franchised 1,827
restaurants under the names Chili's Grill & Bar (1,383 units),
Romano's Macaroni Grill (241 units), On The Border Mexican Grill
& Cantina (162 units), and Maggiano's Little Italy (41 units).
The statements contained in this release that are not historical
facts are forward-looking statements. These forward-looking
statements involve risks and uncertainties and, consequently, could
be affected by general business and economic conditions, the impact
of competition, the impact of mergers, acquisitions, divestitures
and other strategic transactions, the seasonality of the company's
business, adverse weather conditions, future commodity prices, fuel
and utility costs and availability, terrorists acts, consumer
perception of food safety, changes in consumer taste, health
epidemics or pandemics, changes in demographic trends, availability
of employees, unfavorable publicity, the company's ability to meet
its growth plan, acts of God, governmental regulations, and
inflation. Contacts: Stacey Sullivan Calbert, Media Relations (800)
775-7290 Marie Perry, Investor Relations (972) 770-1276 DATASOURCE:
Brinker International, Inc. CONTACT: Stacey Sullivan Calbert, Media
Relations, 1-800-775-7290, or Marie Perry, Investor Relations,
+1-972-770-1276, both of Brinker International, Inc. Web site:
http://www.brinker.com/
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