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Brinker International Inc (EAT) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, June 29, 2011

Brinker International Inc

CIK: 703351 Ticker: EAT

Exhibit 99

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Contacts: Stacey Sullivan, Media Relations

  Tony Laday, Investor Relations

(800) 775-7290

  (972) 770-8890

BRINKER INTERNATIONAL REPORTS YEAR OVER YEAR INCREASE IN FOURTH QUARTER FISCAL 2011 EPS; COMPARABLE RESTAURANT SALES AND TRAFFIC UP 2.6%

DALLAS (Aug. 11, 2011) – Brinker International, Inc. (NYSE: EAT) today announced results for the fiscal fourth quarter and year ended June 29, 2011. Brinker’s fourth quarter of fiscal 2010 contained an additional operating week compared to fiscal 2011, which contributed approximately $52 million of incremental revenue and nine cents of incremental earnings per diluted share in the fourth quarter of fiscal 2010. The information and comparisons presented in this release related to fiscal 2010 include the impact of the additional operating week unless otherwise noted.

Highlights for the fourth quarter of fiscal 2011 include the following:

 

 

Earnings per diluted share from continuing operations, before special items, increased to $0.48 compared to $0.44 for the fourth quarter of fiscal 2010 (see non-GAAP reconciliation below)

 

 

On a GAAP basis, earnings per diluted share from continuing operations increased to $0.49 from $0.42 in the fourth quarter of the prior year

 

 

Customer traffic at company-owned restaurants increased 2.6 percent consisting of a 2.1 percent increase at Chili’s and a 5.8 percent increase at Maggiano’s resulting in the seventh consecutive quarterly increase for Maggiano’s (13 weeks vs. 13 weeks)

 

 

Comparable restaurant sales at company-owned restaurants increased 2.6 percent consisting of a 2.1 percent increase at Chili’s and a 5.7 percent increase at Maggiano’s, the sixth consecutive quarterly increase for Maggiano’s (13 weeks vs. 13 weeks)

 

 

Total revenues decreased 3.4 percent to $717.5 million primarily driven by a 7.5 percent decrease in capacity due to the additional operating week in the fourth quarter fiscal 2010

 

 

Restaurant operating margin1 was flat compared to the prior year at 18.3 percent

 

 

Cash flows provided by operating activities were $260.0 million and capital expenditures totaled $70.4 million for the fiscal year 2011

 

 

The company repurchased approximately 2.5 million shares of its common stock for $62.9 million in the fourth quarter resulting in a total of approximately 20.6 million shares for $420.0 million in fiscal year 2011

 

 

The company paid a dividend of 14 cents per share

 

 

Subsequent to year end, the company executed a new unsecured senior credit facility revising the previous credit facility and increasing the total capacity from $400 million to $500 million. The maturity date of the new credit facility is August 2016

 

 

1 

Restaurant operating margin is defined as Revenues less Cost of sales, Restaurant labor and Restaurant expenses.


The following information was filed by Brinker International Inc (EAT) on Thursday, August 11, 2011 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 Income
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (parenthetical)
Accrued And Other Liabilities
Accrued And Other Liabilities (schedule Of Accrued Liabilities) (details)
Accrued And Other Liabilities (schedule Of Other Liabilities) (details)
Accrued And Other Liabilities (tables)
Contingencies
Contingencies (details)
Debt
Debt (narrative) (details)
Debt (schedule Of Long-term Debt Maturities) (details)
Debt (schedule Of Long-term Debt) (details)
Debt (tables)
Discontinued Operations
Discontinued Operations (narrative) (details)
Discontinued Operations (results Of On The Border) (details)
Discontinued Operations (tables)
Fair Value Disclosures
Fair Value Disclosures (non-financial Assets Measured On A Recurring Basis) (details)
Fair Value Disclosures (other Financial Instruments) (details)
Fair Value Disclosures (tables)
Goodwill
Goodwill (changes In The Carrying Amount Of Goodwill) (details)
Goodwill (tables)
Income Taxes
Income Taxes (narrative) (details)
Income Taxes (provision For Income Taxes From Continuing Operations) (details)
Income Taxes (reconciliation Between Reported Provision For Income Taxes And Statutory Rate) (details)
Income Taxes (reconciliation Of Unrecognized Tax Benefits) (details)
Income Taxes (tables)
Income Taxes (temporary Differences That Give Rise To Significant Portions Of Deferred Income Tax Assets And Liabilities) (details)
Leases
Leases (capital Leases) (details)
Leases (commitments) (details)
Leases (operating Leases) (details)
Leases (tables)
Nature Of Operations And Summary Of Significant Accounting Policies
Nature Of Operations And Summary Of Significant Accounting Policies (fair Value Assumptions Using Black-scholes Option-pricing Model) (details)
Nature Of Operations And Summary Of Significant Accounting Policies (narrative) (details)
Nature Of Operations And Summary Of Significant Accounting Policies (policy)
Nature Of Operations And Summary Of Significant Accounting Policies (tables)
Other Gains And Charges
Other Gains And Charges (narrative) (details)
Other Gains And Charges (schedule Of Other Gains And Charges) (details)
Other Gains And Charges (tables)
Other Restaurant Dispositions And Equity Method Investments
Other Restaurant Dispositions And Equity Method Investments (joint Venture Investment) (details)
Other Restaurant Dispositions And Equity Method Investments (other Dispositions) (details)
Other Restaurant Dispositions And Equity Method Investments (sale Of Macaroni Grill) (details)
Quarterly Results Of Operations (unaudited)
Quarterly Results Of Operations (unaudited) (narrative) (details)
Quarterly Results Of Operations (unaudited) (tables)
Quarterly Results Of Operations (unaudited) (unaudited Consolidated Quarterly Results Of Operations) (details)
Savings Plans
Savings Plans (narrative)
Stock-based Compensation
Stock-based Compensation (narrative) (details)
Stock-based Compensation (restricted Share Transaction Activity) (details)
Stock-based Compensation (stock Option Transactions) (details)
Stock-based Compensation (tables)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (cash Paid For Interest And Income Taxes) (details)
Supplemental Cash Flow Information (non-cash Investing Activities) (details)
Supplemental Cash Flow Information (tables)
Ticker: EAT
CIK: 703351
Form Type: 10-K Annual Report
Accession Number: 0001193125-11-235557
Submitted to the SEC: Mon Aug 29 2011 4:48:02 PM EST
Accepted by the SEC: Mon Aug 29 2011
Period: Wednesday, June 29, 2011
Industry: Retail Eating Places

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