ROADHOUSE GRILL, INC., a full service, casual dining restaurant operator, today announced results for the fourteen weeks (“Fourth Quarter”) and also for the 53 weeks (“Fiscal Year 2000”) ended April 30, 2000.

Roadhouse Grill, Inc. reported a 30% increase in total revenues to $45.1 million in the fourth quarter of fiscal year 2000 from $34.7 million in the comparable period in fiscal year 1999. The fourth quarter of fiscal year 2000 consisted of 14 weeks compared to a 13-week fourth quarter in fiscal year 1999. Operating income amounted to $4.3 million in the fourth quarter of fiscal year 2000, a 54% increase over operating income of $2.8 million in the same period last year. The Company reported net income of $3.3 million for the fourth quarter versus net income of $2.1 million last year. Diluted earnings per share in the fourth quarter of fiscal year 2000 amounted to $0.34 versus $0.22 in the same period of fiscal year 1999. Same store sales for the quarter decreased 3.6% from the prior year period.

Revenues for fiscal year 2000 increased 23% to $148.5 million from $120.7 million in fiscal year 1999. Fiscal year 2000 consisted of 53 weeks compared to a 52-week year in fiscal year 1999. Operating income for the current year amounted to $ 7.6 million versus $8.5 million in fiscal year 1999. Net income amounted to $4.5 for fiscal year 2000 before the cumulative effect of a required change in accounting principle related to the treatment of unamortized pre-opening expenses of $1.2 million ($953,000 after tax or $0.10 per diluted share) versus $6.0 million in fiscal year 1999. Diluted earnings per share before the cumulative effect of the change in accounting principle in fiscal year 2000 amounted to $0.46 versus $0.62 for the prior year. Same store sales for fiscal year 2000 decreased 2.3% from the prior year.

Roadhouse Grill, Inc. opened seven new restaurants in the fourth quarter of fiscal year 2000 and for the entire year opened a total of 16 restaurants. At the end of fiscal year 2000 the Company operated 72 Company-owned Roadhouse Grill restaurants and franchised three other Roadhouse Grill restaurants. Thus far in fiscal year 2001 the Company has opened two new restaurants

The Company also announced that Glenn E. Glasshagel, Executive Vice-President and Chief Financial Officer for Roadhouse Grill, Inc., has resigned from the Company to accept an executive position with a firm in California, which accomplishes his goal of being closer to his family. Mr. Glasshagel will remain with the Company until mid-July. The Company has begun a search to replace his position.

Roadhouse Grill, Inc. currently owns and operates 74 full service, casual dining restaurants and franchises three other locations. The Roadhouse Grill concept offers a “rambunctious” style consistent with the Company’s motto, “Eat, Drink and Be Yourself”. The comfortable, entertaining roadhouse setting is designed to appeal to a broad range of customers, including business people, couples, singles and particularly families. Roadhouse Grill restaurants are located in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Nevada, New York, North Carolina, Ohio, South Carolina and Tennessee. 35 of the Company-owned restaurants are located in Florida. The three franchised Roadhouse Grill restaurants are located in Las Vegas, Nevada.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Certain statements in this release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release includes forward-looking statements based largely on the Company’s expectations which are subject to a number of risks and uncertainties, including but not limited to economic, competitive and other factors affecting the Company’s operations, markets, products and services, risks associated with growth, risks associated with media campaigns, risks associated with our ability to support our franchise organizations, the ability to obtain financing, the successful training and retention of personnel and other factors discussed elsewhere in this release and the documents filed by the Company with the Securities and Exchange Commission. Many of these factors are beyond the Company’s control. Actual results could differ materially from these forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will, in fact, occur.

For copies of Roadhouse Grill’s recent press releases via fax, at no charge, please call (888) 329-8932.

                         Roadhouse Grill, Inc.
Consolidated Statements of Income
For the Fourteen Weeks and Fifty-Three Weeks Ended April 30, 2000 and
The Thirteen Weeks and Fifty-Two Weeks Ended April 25, 1999
($ in thousands, except per share data)

Fourteen Thirteen Fifty-Three Fifty-Two
Weeks Weeks Weeks Weeks
Ended Ended Ended Ended
April 30, April 25, April 30, April 25,
2000 1999 2000 1999
——— ——— ——— ———

Total Revenues $ 45,090 $ 34,711 $ 148,495 $ 120,681

Cost of Restaurant
Sales:
Food and Beverage 14,098 11,230 48,710 39,505
Labor and Benefits 13,067 9,506 43,201 33,897
Occupancy and
Other 7,988 7,160 29,879 23,390
Pre-Opening
Expenses 1,061 290 2,387 1,318
——— ——— ——— ———
Total Cost of
Restaurant Sales 36,214 28,186 124,177 98,110

Depreciation and
Amortization 2,305 1,900 8,510 7,351
General and
Administrative 2,236 1,814 8,241 6,766

Total Operating
Expenses 40,755 31,900 140,928 112,227

Operating Income 4,335 2,811 7,567 8,454

Other Income
(Expense)
Interest Expense,
net (580) (584) (2,301) (2,210)
Other, net (3)
——— ——— ——— ———
Total Other
Income (Expense) (580) (584) (2,301) (2,213)

Income Before Income
Taxes and Cumulative
Effect of Change in
Accounting Principle 3,755 2,227 5,266 6,241
Income Taxes 468 99 801 233
——— ——— ——— ———
Income Before
Cumulative Effect
of Change in
Accounting Principle 3,287 2,128 4,465 6,008

Cumulative Effect of
Change in Accounting
Principle (953)
——— ——— ——— ———
Net Income $ 3,287 $ 2,128 $ 3,512 $ 6,008
========= ========= ========= =========

Basic Net Income Per
Common Share:
Basic Income Before
Cumulative Effect
of Change in
Accounting
Principle $ 0.34 $ 0.22 $ 0.46 $ 0.63

Cumulative Effect
of Change in
Accounting
Principle (0.10)
——— ——— ——— ———
Basic Net Income Per
Common Share $ 0.34 $ 0.22 $ 0.36 $ 0.63
========= ========= ========= =========

Diluted Net Income
Per Common Share:
Diluted Income
Before Cumulative
Effect of Change
in Accounting
Principle $ 0.34 $ 0.22 $ 0.46 $ 0.62

Cumulative Effect
of Change in
Accounting
Principle (0.10)
——— ——— ——— ———

Diluted Net Income
Per Common Share $ 0.34 $ 0.22 $ 0.36 $ 0.62
========= ========= ========= =========

Weighted Average
Common Shares
Outstanding:
Basic 9,708,741 9,708,741 9,708,741 9,536,631
========= ========= ========= =========

Diluted 9,804,817 9,821,818 9,792,019 9,668,469
========= ========= ========= =========