Diversified Restaurant Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 26, 2017; Provides Earnings Guidance for the Full Year of Fiscal 2017
May 05, 2017 at 07:26 am IST
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Diversified Restaurant Holdings, Inc. announced unaudited consolidated earnings results for the first quarter ended March 26, 2017. For the quarter, the company announced revenue was $44,337,964 compared to $43,143,252 for the same period a year ago. Operating profit was $2,366,631 compared to $3,115,981 for the same period a year ago. Income from continuing operations before income taxes was $817,844 compared to $1,710,783 for the same period a year ago. Income from continuing operations was $795,580 compared to $1,292,429 for the same period a year ago. Net income was $831,120 compared to $430,404 for the same period a year ago. Diluted net earnings per share were $0.03 compared to $0.02 for the same period a year ago. Net cash provided by operating activities was $4,441,375 compared to $3,111,726 for the same period a year ago. Purchases of property and equipment were $1,430,201 compared to $6,405,269 for the same period a year ago. EBITDA was $6,021,944 compared to $6,925,307 for the same period a year ago. Adjusted EBITDA was $6,157,711 compared to $7,183,888 for the same period a year ago.
The company provided earnings guidance for the full year of fiscal 2017. The company expects: revenue of $173 million to $178 million; restaurant-level EBITDA of $33 million to $36 million; adjusted EBITDA between $23.5 million to $26.5 million; and capital expenditures of approximately $4 million to $6 million.
Patton Wings, Inc is a United States-based restaurant company, which is operating a single concept, Buffalo Wild Wings (BWW). The Company owns restaurants in Florida, Illinois, Indiana, Michigan and Missouri. The BWW restaurants feature a range of menu items with a multimedia social environment, a bar and an open layout designed to create a dining experience for sports fans and families. It's guests have the option of watching various sporting events on projection screens or televisions. The restaurants offered 20 to 40 domestic and imported beers on tap, including several local or regional microbrews and a selection of bottled beer, wine and liquor.
Diversified Restaurant Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 26, 2017; Provides Earnings Guidance for the Full Year of Fiscal 2017