J. Alexander's Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended January 1, 2012; Provides Earnings Guidance for the First Quarter of Fiscal 2012
March 16, 2012 at 06:05 pm IST
J. Alexander's Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended January 1, 2012. For the fourth quarter, the company reported net sales increased 5.5% to $40,918,000 compared to $38,793,000 a year ago. Operating income was $1,016,000 compared to $1,132,000 a year ago. Income before income taxes was $655,000 compared to $732,000 a year ago. Net income was $344,000 or $0.06 per basic and diluted share compared to $495,000 or $0.08 per basic and diluted share a year ago.
For the full year, the company reported net sales of $157,175,000 compared to $149,018,000 a year ago. Operating income was $2,699,000 compared to $2,262,000 a year ago. Income before income taxes was $1,147,000 compared to $444,000 a year ago. Net income was $857,000 or $0.14 per basic and diluted share compared to $2,796,000 or $0.47 per basic and diluted share a year ago.
The company expects first quarter of fiscal 2012 average weekly same store sales to rise between 4% and 5% over the first quarter of 2011. Based on current estimates net income for the first quarter of 2012 is estimated to reach $2,100,000 to $2,400,000 compared to $1,062,000 reported in the first quarter of 2011 with earnings per diluted share improving to between $0.34 and $0.39 compared to $0.18 in the first quarter of 2011.