BJ's reports 55 percent increase in net income per share for Q3

Oct. 22, 2009
BJ's Restaurants Inc. increased total revenue for the third quarter ended Sept. 29, but had a small dip in same-store sales compared with last year's Q3 reuslts.
Total revenues for the third quarter of fiscal 2009 increased approximately 8.5 percent to $103.9 million compared to $95.8 million for the same quarter last year. Year-to-date, revenues are up 14 percent, from $274 million last year to $314 this year. Gains are likely due to the seven new restaurants the company added in 2009.
Comparable restaurant sales decreased by 1.6 percent during the third quarter of fiscal 2009 compared to a decrease of 1 percent during the same quarter last year. Net income and diluted net income per share increased approximately 55 percent to $3.2 million and 50 percent to 12 cents, respectively, compared to the same quarter last year.
"We believe that our comparatively strong sales are the result of our steadily improving restaurant level operational execution, combined with favorable consumer response to our marketing and promotional programs that focus on the communication of BJ's everyday value and our new products and services," said Jerry Deitchle, chairman and CEO.
Three additional new restaurants are under construction and all are expected to open before Thanksgiving. The company expects to open as many as 10 to 11 new restaurants during fiscal 2010 and has thereby set a preliminary targeted increase in total restaurant operating weeks in the range of 13 percent to 14 percent for next year.
"We believe that BJ's is one of just a few publicly-held casual dining restaurant companies that achieved double-digit capacity growth during 2009, and that also plans to achieve that level of growth during 2010," Deitchle said. 
BJ's Restaurants currently owns and operates 89 casual dining restaurants under the BJ's Restaurant & Brewery, BJ's Restaurant & Brewhouse or BJ's Pizza & Grill brand names.

Topics: Business Strategy and Profitability , Operations Management

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