Diversified Restaurant Holdings, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported revenues of $41,927,106 against $40,801,180 a year ago. Operating profit was $1,832,355 against $854,275 a year ago. Income from continuing operations before income taxes was $268,061 against loss of $844,530 a year ago. Loss from continuing operations was $20,245,148 or $0.76 per share basic and diluted compared to income of $186,286 or $0.01 per share basic and diluted a year ago. Net loss was $20,321,712 or $0.76 per share basic and diluted against $4,861,335 or $0.18 per share basic and diluted a year ago. EBITDA was $4,806,261 against $4,413,500 a year ago. Adjusted EBITDA was $4,933,511 against $4,459,921 a year ago. Restaurant–Level EBITDA was $7,163,690 against $6,727,355 a year ago.

For the full year, the company reported revenues of $165,462,612 against $166,520,925 a year ago. Operating profit was $5,240,728 against $7,303,971 a year ago. Loss from continuing operations before income taxes was $1,286,395 against income of $1,368,256 a year ago. Loss from continuing operations was $20,284,151 or $0.76 per share basic and diluted compared to income of $3,639,048 or $0.14 per share basic and diluted a year ago. Net loss was $20,458,076 or $0.77 per share basic and diluted against $6,002,481 or $0.23 per share basic and diluted a year ago. Net cash provided by operating activities was $12,499,879 against $11,123,874 a year ago. Purchases of property and equipment were $4,687,242 against $12,499,507 a year ago. EBITDA was $18,666,336 against $22,339,123 a year ago. Adjusted EBITDA was $19,868,117 against $23,345,241 a year ago. Restaurant–Level EBITDA was $28,284,650 against $32,275,018 a year ago. Capital expenditures were $4.7 million during 2017 and were primarily for one new restaurant, two remodels and restaurant refreshes compared to $12.5 million for 2016.

For the year 2018, the company anticipates its capital expenses will range between $1.0 million and $1.5 million, and will be for minor facility upgrades and general maintenance-type investments. The company expects to achieve delivery sales over $2 million in 2018.