Red Robin Gourmet Burgers Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended October 4, 2009. Total Company revenues, which include company-owned restaurant sales and franchise royalties and fees, decreased 10.4% to $187.0 million in the fiscal third quarter of 2009, versus $208.6 million last year. Net income for the fiscal third quarter of 2009 was $5.7 million or $0.37 per diluted share as compared to net income of $6.2 million or $0.40 per diluted share, in the fiscal third quarter of 2008. Income before income taxes for the period was $6.81 million and income from operations was $8.14 million compared to income before income of $7.87 million and income from operations of $9.92 million for the same period previous year. Comparable restaurant sales decreased 14.9% for company-owned restaurants in the fiscal third quarter of 2009 compared to the fiscal third quarter of 2008, driven by a 13.8% decline in guest counts and 1.1% decrease in the average guest check. Average weekly comparable sales from the 269 company-owned comparable restaurants were $51,964 in the fiscal third quarter of 2009, compared to $62,182 for the 233 company-owned comparable restaurants in the fiscal third quarter of 2008. Average weekly sales for the 35 non-comparable company-owned restaurants were $49,385 in the fiscal third quarter of 2009, compared to $56,111 for the 44 non-comparable restaurants in the fiscal third quarter a year ago. For all company-owned restaurants, average weekly sales were $51,667 from 3,648 operating weeks in the fiscal third quarter of 2009 compared to $60,974 from 3,433 operating weeks, in the fiscal third quarter of 2008. For the nine months, the company reported net income of $15.96 million or $1.03 per diluted share on total revenue of $658.84 million compared to net income of $21.34 million or $1.31 per diluted share on total revenue of $670.61 million for the same period previous year. Income before income taxes for the period was $20.32 million and income from operations was $25.34 million compared to income before income of $29.23 million and income from operations of $35.32 million for the same period previous year.

Red Robin Gourmet Burgers Inc. announced earnings results for the nine months ended October 4, 2009. For the nine months, the company reported cash from operations of $66.5 million and capital expenditures of $42 million. For full year 2009, the company expects comparable restaurant sales to continue to decline based on the current macroeconomic environment and the significant reduction in national cable television advertising. For every 10 basis point change in the restaurant-level operating profit during the full year of 2009, diluted earnings per share is estimated to be impacted by approximately $0.04. Capital expenditure estimates of around $45 million and remaining cash flow primarily to pay down outstanding during 2009. The company expects capital expenditure of $40 to $45 million in 2010. The company plan to open these three restaurants late in the first quarter of 2010. The board of directors approved the development of up to 15 new company-owned Red Robin restaurants next year, which expect to open fairly evenly throughout 2010.

Red Robin Gourmet Burgers Inc., Q3 2009 Earnings Call, Nov-05 2009