Flanigan's Announces Earnings, Declares Dividend
FORT LAUDERDALE, Fla., Dec. 29, 2010 /PRNewswire-FirstCall/ -- FLANIGAN'S ENTERPRISES, INC., (NYSE Alternext US: BDL) owners and operators of the "Flanigan's Seafood Bar and Grill" restaurants and "Big Daddy's" retail liquor stores, announced results for the 13 weeks and the 52 weeks ended October 2, 2010. The table below sets forth the results on a comparative basis with the 14 weeks and 53 weeks ended October 3, 2009. On December 22, 2010, the Board of Directors declared a cash dividend of 10 cents per share to shareholders of record on January 7, 2011, payable on January 18, 2011.
For the 13 weeks | For the 14 weeks | |||
ended October | ended October | |||
2, 2010 | 3, 2009 | |||
REVENUES | ||||
RESTAURANT FOOD AND | ||||
BAR SALES | $ 13,382,000 | $ 13,351,000 | ||
PACKAGE STORE SALES | 2,747,000 | 2,844,000 | ||
FRANCHISE RELATED REVENUES | 320,000 | 284,000 | ||
OWNER'S FEE | 40,000 | 41,000 | ||
OTHER OPERATING INCOME | 28,000 | 39,000 | ||
TOTAL REVENUES | $ 16,517,000 | $ 16,559,000 | ||
NET INCOME ATTRIBUTABLE TO | ||||
FLANIGAN'S ENTERPRISES, INC. | $ 295,000 | $ 222,000 | ||
NET INCOME PER COMMON SHARE | ||||
BASIC EPS | $ 0.16 | $ 0.12 | ||
DILUTED EPS | $ 0.16 | $ 0.12 | ||
For the 52 weeks | For the 53 weeks | |||
ended October | ended October | |||
2, 2010 | 3, 2009 | |||
RESTAURANT FOOD AND | ||||
BAR SALES | $ 55,717,000 | $ 52,979,000 | ||
PACKAGE STORE SALES | 12,898,000 | 12,632,000 | ||
FRANCHISE RELATED REVENUES | 1,076,000 | 1,126,000 | ||
OWNER'S FEE | 165,000 | 170,000 | ||
OTHER OPERATING INCOME | 137,000 | 153,000 | ||
TOTAL REVENUES | $ 69,993,000 | $ 67,060,000 | ||
NET INCOME ATTRIBUTABLE TO | ||||
FLANIGAN'S ENTERPRISES, INC. | $ 1,679,000 | $ 1,389,000(1)(2) | ||
NET INCOME PER COMMON SHARE | ||||
BASIC EPS | $ 0.90 | $ 0.74 | ||
DILUTED EPS | $0.90 | $ 0.74 | ||
(1) Includes after tax gain of $106,000 from payment of balance of claim in liquidation proceedings of former insurance company plus interest. | ||||
(2) Includes $140,000 adjustment to deferred tax asset. | ||||
SOURCE Flanigan's Enterprises, Inc.
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