Ruby Tuesday Q3 Revenue Up
The company posted total operating costs and expenses of $300.4m for the third quarter of 2011, compared to $281.42m for the same period in 2010. Earnings before interest and taxes were $18.66m, compared to $25.85m for the same period in 2010.
Net income was $16m for the third quarter of 2011, compared to $17.8m for the same period in 2010. Net interest expense was $3.11m, compared to $3.58m for the same period in 2010.
For the nine months of 2011, the company posted total revenue of $912.2m, compared to $881.34m for the same period in 2010. Total operating costs and expenses were $867.18m, compared to $837.24m for the same period in 2010. Earnings before interest and taxes were $45.02m, compared to $44.1m for the same period in 2010.
Net income was $32.96m for the nine months of 2011, compared to $24.37m for the same period in 2010. Net interest expense was $8.13m, compared to $13.57m for the same period in 2010.
For the fiscal year 2011 depreciation and amortization is estimated to be in the $62-$64m range and selling, general, and administrative expenses are targeted to be up approximately 18 percent - 20 percent from a year earlier. Interest expense is estimated to be $12-$13m and the effective tax rate is estimated to be 10 percent -15 percent.
Sandy Beall, founder, chairman, and CEO of the company, said: â€œWhile our earnings per share trailed the prior-year results, excluding the winter weather impact which hit us harder than most of our peers since approximately 90 percent of our company-owned restaurants are concentrated in the Eastern US, we would have been in line with our prior-year results, even after absorbing the investments we have made this year.
â€œThese investments, which include our fresh bread program served complimentary with every entree, incremental labor for service enhancements, and new marketing brand research initiatives, should all yield attractive returns.â€
Will the firm further improve total revenue in Q4?
Have your say and discuss with your peers on the InfoGrok community.
Participate by posting your comments now.