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Bloomin' Brands, Inc. (BLMN) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 28, 2014

Bloomin' Brands, Inc.

CIK: 1546417 Ticker: BLMN


 
NEWS
 
Exhibit 99.1
 
 
 
 
 
Chris Meyer
 
 
 
Group Vice President, IR & Finance
 
 
 
(813) 830-5311
 
 

Bloomin’ Brands Announces 2014 Fourth Quarter Adjusted Diluted EPS of $0.28 and Diluted EPS of $0.17;
Posts Core Domestic Comparable Sales Increase of 4.2%;
Declares First Dividend of $0.06 Per Share;
Reaffirms 2015 Guidance Including Adjusted Diluted EPS Growth of At Least 15%


TAMPA, Fla., February 19, 2015 - Bloomin’ Brands, Inc. (Nasdaq:BLMN) today reported financial results for the 13-week fourth quarter (“Q4 2014”) and fiscal year ended December 28, 2014 (“Fiscal Year 2014”) compared to the fourth quarter (“Q4 2013”) and year ended December 31, 2013 (“Fiscal Year 2013”).

Key highlights for the thirteen weeks ended December 28, 2014 include the following:

Total revenues increased 5.5% to $1.1 billion
Comparable sales for Company-owned core domestic concepts increased 4.2% with a traffic increase of 1.0%
System-wide development was 18 new restaurants, including five Outback Steakhouse restaurants in Brazil
Adjusted net income* was $35.5 million versus $34.2 million in the fourth quarter of 2013 and U.S. GAAP Net income attributable to Bloomin’ Brands was $22.4 million versus $59.0 million in the fourth quarter of 2013

Key highlights for the fiscal year ended December 28, 2014 include the following:

Total revenues increased 7.6% to $4.4 billion
Comparable sales for Company-owned core domestic concepts increased 2.0% with flat traffic
System-wide development was 57 new restaurants, including 15 Outback Steakhouse restaurants in Brazil
Adjusted net income* was $140.8 million versus $142.4 million in 2013 and U.S. GAAP Net income attributable to Bloomin’ Brands was $91.1 million versus $208.4 million in 2013

The following table reconciles Adjusted diluted earnings per share to Diluted earnings per share for the periods as indicated below. Due to our conversion to a 52-53 week fiscal year, there was one less day in the fourth quarter and three less days in fiscal 2014, which had an impact of $0.05 and $0.07, respectively, to adjusted diluted EPS.
 
 
 
 
 

 
FISCAL YEAR
 

 
Q4 2014
 
Q4 2013
 
CHANGE
 
2014
 
2013
 
CHANGE
Adjusted diluted earnings per share*
$
0.28

 
$
0.27

 
$
0.01

 
$
1.10

 
$
1.11

 
$
(0.01
)
Adjustments*
(0.11
)
 
0.19

 
(0.30
)
 
(0.39
)
 
0.52

 
(0.91
)
Diluted earnings per share
$
0.17

 
$
0.46

 
$
(0.29
)
 
$
0.71

 
$
1.63

 
$
(0.92
)
 
 
 
 
 
 
 
 
 
 
 
 
_________________
*
Denoted items are non-GAAP measurements, which include adjustments to the financial results as determined under U.S. GAAP. See Reconciliations of Non-GAAP Measures to U.S. GAAP Results included later in this release.



1

The following information was filed by Bloomin' Brands, Inc. (BLMN) on Thursday, February 19, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets Parenthetical
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity (deficit)
Consolidated Statements Of Changes In Stockholders' Equity Parenthetical
Consolidated Statements Of Operations And Comprehensive Income
(schedule Of Long-term Debt, Net) (details)
Accrued And Other Current Liabilities
Accrued And Other Current Liabilities (details)
Accrued And Other Current Liabilities (tables)
Acquisitions
Acquisitions (tables)
Acquisitions Acquisition Unaudited Pro Forma Summary Financial Information (details)
Acquisitions Purchase Of Joint Venture Interests - Brazilian Joint Venture (details)
Acquisitions Purchase Of Limited Partnership Interests (details)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies Insurance (details)
Commitments And Contingencies Litigation And Other Matters (details)
Commitments And Contingencies Operating Leases (details)
Commitments And Contingencies Purchase Obligations (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (tables)
Derivative Instruments And Hedging Activities Narrative (details)
Description Of Business
Description Of Business (details)
Earnings Per Share
Earnings Per Share (antidilutive Securities) (details)
Earnings Per Share (basic And Diluted Eps) (details)
Earnings Per Share (tables)
Fair Value Measurements
Fair Value Measurements (details)
Fair Value Measurements (tables)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (change In Goodwill) (details)
Goodwill And Intangible Assets, Net (intangible Assets) (details)
Goodwill And Intangible Assets, Net (tables)
Impairments, Disposals And Exit Costs
Impairments, Disposals And Exit Costs (details)
Impairments, Disposals And Exit Costs (tables)
Income Taxes
Income Taxes (tables)
Income Taxes Components Of Income Tax (details)
Income Taxes Deferred Income Tax Assets And Liabilities (details)
Income Taxes Narrative (details)
Income Taxes Unrecognized Tax Benefits (details)
Long-term Debt, Net
Long-term Debt, Net (details)
Long-term Debt, Net (tables)
Other Assets, Net
Other Assets, Net (details)
Other Assets, Net (tables)
Other Current Assets, Net
Other Current Assets, Net (details)
Other Current Assets, Net (tables)
Other Long-term Liabilities, Net
Other Long-term Liabilities, Net (details)
Other Long-term Liabilities, Net (tables)
Property, Fixtures And Equipment, Net
Property, Fixtures And Equipment, Net (details)
Property, Fixtures And Equipment, Net (tables)
Redeemable Noncontrolling Interests
Redeemable Noncontrolling Interests (details)
Redeemable Noncontrolling Interests (tables)
Related Parties
Related Parties (details)
Selected Quarterly Financial Data (unaudited)
Selected Quarterly Financial Data (unaudited) (details)
Selected Quarterly Financial Data (unaudited) (tables)
Selected Quarterly Financial Data (unaudited) Footnotes (details)
Stock-based And Deferred Compensation Plans
Stock-based And Deferred Compensation Plans Deferred Compensation Plans - Area Operations Directors, Managing, Operating And Chef Partner Programs (details)
Stock-based And Deferred Compensation Plans Deferred Compensation Plans - Other Benefit Plans (details)
Stock-based And Deferred Compensation Plans Equity Compensation Plans (details)
Stock-based And Deferred Compensation Plans Stock-based And Deferred Compensation Plans (tables)
Stock-based And Deferred Compensation Plans Stock-based Compensation - Performance-based Share Units (details)
Stock-based And Deferred Compensation Plans Stock-based Compensation - Restricted Stock And Restricted Stock Units (details)
Stock-based And Deferred Compensation Plans Stock-based Compensation - Stock Options (details)
Stockholders' Equity
Stockholders' Equity (initial Public Offering) (details)
Stockholders' Equity (tables)
Stockholders' Equity Stockholders' Equity (accumulated Other Comprehensive Income (loss)) (details)
Stockholders' Equity Stockholders' Equity (dividend) (details)
Stockholders' Equity Stockholders' Equity (share Repurchase) (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (advertising Costs) (details)
Summary Of Significant Accounting Policies (cash And Cash Equivalents) (details)
Summary Of Significant Accounting Policies (foreign Currency Translation And Transactions) (details)
Summary Of Significant Accounting Policies (partner Compensation) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (principles Of Consolidation) (details)
Summary Of Significant Accounting Policies (property, Fixtures And Equipment) (details)
Summary Of Significant Accounting Policies (research And Development Expenses) (details)
Summary Of Significant Accounting Policies (revenue Recognition) (details)
Summary Of Significant Accounting Policies (segment Reporting) (details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (basis Of Presentation) (details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (concentrations Of Credit And Counterparty Risk) (details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (fiscal Year End) (details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (insurance Reserves) (details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (tables)
Ticker: BLMN
CIK: 1546417
Form Type: 10-K Annual Report
Accession Number: 0001546417-15-000027
Submitted to the SEC: Tue Feb 24 2015 4:47:46 PM EST
Accepted by the SEC: Tue Feb 24 2015
Period: Sunday, December 28, 2014
Industry: Retail Eating Places

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