Famous Dave's Appoints Ed Rensi As Interim CEO - Quick Facts

(RTTNews) - Famous Dave's (DAVE) announced that Ed Rensi, Director, has been appointed as its Interim Chief Executive Officer, effective immediately. He succeeds John Gilbert, who resigned.

Ed Rensi has spent the majority of his career at McDonald's U.S.A., rising to President from 1984-1991 and then President & CEO through 1997. Rensi founded Tom & Eddies restaurant chain.

Rensi also started and owned Team Rensi Motorsports, which competed in the NASCAR Nationwide Series. He currently serves on the Board of Directors of Snap-On Incorporated. He has served on the board of Great Wolf Resorts Inc., International Speedway Corporation and Freedom Group Inc.

The company plans to release Fourth Quarter and 2013 results would proceed on schedule after market close on February 12, 2014.

In anticipation of that release, the company noted the financial highlights for the year: Revenue of $155.4 million increased approximately $444,000, reflecting an increase in restaurant sales, partially offset by a decline in franchise royalty revenue and fees. Comparable sales for Company-owned restaurants open 24 months or more were a positive 0.2% compared to a decrease of 1.8% in 2012.

Analysts polled by Thomson Reuters expected the company to report revenues of $156.77 million for fiscal 2013. Analysts' estimates typically exclude special items.

Fourth quarter comparable sales for Company-owned restaurants open 24 months or more decreased 2.6%, compared to a decrease of 6.0% for the comparable quarter in the prior year.