Brinker: Reports Increase In Year Over Year EPS

Dallas / TX. (bi) Brinker International Inc., a recognized leader in casual dining, announced results for the fiscal third quarter ended March 27, 2013. Highlights include the following:

  • Earnings per diluted share, excluding special items, increased 20,0 percent to 0,72 USD compared to 0,60 USD for the third quarter of fiscal 2012 (see non-GAAP reconciliation below)
  • On a GAAP basis, earnings per diluted share increased 26,8 percent to 0,71 USD compared to 0,56 USD for the third quarter of fiscal 2012
  • Restaurant operating margin1 improved approximately 70 basis points to 17,9 percent from 17,2 percent
  • Brinker´s operating income, excluding special items, improved 110 basis points from 9,8 percent to 10,9 percent primarily due to general and administrative savings in addition to the restaurant operating margin improvement mentioned above
  • Chili´s comparable restaurant sales decreased 1,1 percent for the quarter consisting of a 0,4 percent and 4,3 percent decrease in January and February, respectively, offset by a 1,3 percent increase in March
  • Maggiano´s comparable restaurant sales increased 0,4 percent, representing the 13th consecutive quarterly increase
  • Franchise comparable restaurant sales increased 1,3 percent driven by a 5,1 percent increase in international franchise comparable restaurant sales
  • The company repurchased approximately 1,8 million shares of its common stock for 60,4 million USD in the third quarter
  • The company paid a dividend of 20 cents per share in the third quarter, an increase of 25 percent over the prior year third quarter
  • For the first nine months of fiscal 2013, cash flows provided by operating activities were 222,6 million USD and capital expenditures totalled 98,7 million USD

«Brinker delivered a 20 percent increase in EPS for the quarter, despite a tough industry sales environment», said Wyman Roberts, President and Chief Executive Officer. «We´ve remained steadfast in executing our initiatives and are realizing the benefits of our strengthened business model. As such, we are confident we will meet our 2010 promise of doubling EPS as early as next fiscal year».