FORT LAUDERDALE, Fla., May 15, 2018 /PRNewswire/ — FLANIGAN’S ENTERPRISES, INC., (NYSE AMERICAN: 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 26 weeks ended March 31, 2018. The table below sets forth the results on a comparative basis with the 13 weeks and 26 weeks ended April 1, 2017.
|
For the 13 weeks |
For the 13 weeks |
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|
ended March 31, |
ended April 1, |
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|
2018 |
2017 |
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|
REVENUES |
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|
RESTAURANT FOOD AND |
||||||
|
BAR SALES |
$ |
23,885,000 |
$ |
22,583,000 |
||
|
PACKAGE STORE SALES |
4,866,000 |
4,191,000 |
||||
|
FRANCHISE RELATED REVENUES |
443,000 |
408,000 |
||||
|
RENTAL INCOME |
158,000 |
152,000 |
||||
|
OWNER’S FEE |
37,000 |
37,000 |
||||
|
OTHER OPERATING INCOME |
67,000 |
62,000 |
||||
|
TOTAL REVENUES |
$ |
29,456,000 |
$ |
27,433,000 |
||
|
NET INCOME ATTRIBUTABLE |
||||||
|
TO FLANIGAN’S ENTERPRISES, INC |
$ |
1,397,000 |
$ |
1,047,000 |
||
|
NET INCOME PER COMMON SHARE |
||||||
|
BASIC AND DILUTED |
$ |
0.75 |
$ |
0.56 |
||
|
For the 26 weeks |
For the 26 weeks |
|||||
|
ended March 31, |
ended April 1, |
|||||
|
2018 |
2017 |
|||||
|
RESTAURANT FOOD AND |
||||||
|
BAR SALES |
$ |
46,641,000 |
$ |
43,868,000 |
||
|
PACKAGE STORE SALES |
9,879,000 |
8,869,000 |
||||
|
FRANCHISE RELATED REVENUES |
823,000 |
786,000 |
||||
|
RENTAL INCOME |
315,000 |
311,000 |
||||
|
OWNER’S FEE |
75,000 |
75,000 |
||||
|
OTHER OPERATING INCOME |
116,000 |
118,000 |
||||
|
TOTAL REVENUES |
$ |
57,849,000 |
$ |
54,027,000 |
||
|
NET INCOME ATTRIBUTABLE |
||||||
|
TO FLANIGAN’S ENTERPRISES, INC. |
$ |
2,018,000* |
$ |
1,712,000 |
||
|
NET INCOME PER COMMON SHARE |
||||||
|
BASIC AND DILUTED |
$ |
1.09 |
$ |
0.92 |
||
|
*On December 22, 2017 the Tax Cuts and Jobs Act (“The Act”) was signed into law, reducing the corporate income tax rate to 21%. Consequently, we recorded a decrease of approximately $268,000 to our net deferred tax asset, with a corresponding adjustment to deferred income tax expense for the thirteen weeks ended December 30, 2017. |
View original content:http://www.prnewswire.com/news-releases/flanigans-reports-earnings-300649098.html
SOURCE Flanigan’s Enterprises, Inc.
