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27.12.2018 23:44:00
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Flanigan's Reports Earnings
FORT LAUDERDALE, Fla., Dec. 27, 2018 /PRNewswire/ -- FLANIGAN'S ENTERPRISES, INC., (NYSE AMERICAN: BDL) owners and operators of the "Flanigan's Seafood Bar and Grill" restaurants and "Big Daddy's" retail liquor stores, announced results for the 13 weeks and the 52 weeks ended September 29, 2018. The table below sets forth the results on a comparative basis with the 13 weeks and 52 weeks ended September 30, 2017.
For the 13 weeks | For the 13 weeks | ||
ended Sept. 29, | ended Sept. 30, | ||
2018 | 2017 | ||
REVENUES | |||
RESTAURANT FOOD AND | |||
BAR SALES | $ 22,342,000 | $ 21,307,000 | |
PACKAGE STORE SALES | 4,245,000 | 3,906,000 | |
FRANCHISE RELATED REVENUES | 409,000 | 384,000 | |
RENTAL INCOME | 155,000 | 150,000 | |
OWNER'S FEE | 25,000 | 37,000 | |
OTHER OPERATING INCOME | 36,000 | 44,000 | |
TOTAL REVENUES | $ 27,212,000 | $ 25,828,000 | |
NET INCOME ATTRIBUTABLE | |||
TO FLANIGAN'S ENTERPRISES, INC. | $ 616,000 | $ 467,000 | |
NET INCOME PER COMMON SHARE | |||
BASIC AND DILUTED | $ .34 | $ .26 | |
For the 52 weeks | For the 52 weeks | ||
ended Sept. 29, | ended Sept. 30, | ||
2018 | 2017 | ||
RESTAURANT FOOD AND | |||
BAR SALES | $ 92,305,000 | $ 87,393,000 | |
PACKAGE STORE SALES | 18,559,000 | 16,842,000 | |
FRANCHISE RELATED REVENUES | 1,652,000 | 1,592,000 | |
RENTAL INCOME | 626,000 | 612,000 | |
OWNER'S FEE | 138,000 | 150,000 | |
OTHER OPERATING INCOME | 217,000 | 233,000 | |
TOTAL REVENUES | $ 113,497,000 | $ 106,822,000 | |
NET INCOME ATTRIBUTABLE | |||
TO FLANIGAN'S ENTERPRISES, INC. | $ 3,677,000* | $ 3,020,000 | |
NET INCOME PER COMMON SHARE | |||
BASIC AND DILUTED | $ 1.98 | $ 1.63 | |
*On December 22, 2017 the Tax Cuts and Jobs Act ("The Act") was signed into law, reducing the corporate income tax rate to 21%. Consequently, we recorded a decrease of approximately $336,000 to our net deferred tax asset, with a corresponding adjustment to deferred income tax expense during our fiscal year ended September 29, 2018. |
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SOURCE Flanigan's Enterprises, Inc.
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