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Red Robin Gourmet Burgers Inc (RRGB) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Red Robin Gourmet Burgers Inc

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CIK: 1171759 Ticker: RRGB

Exhibit 99.1

Red Robin Gourmet Burgers Reports Results for the Fiscal Fourth Quarter and Year Ended December 31, 2017

Greenwood Village, CO – February 22, 2018 – Red Robin Gourmet Burgers, Inc., (NASDAQ: RRGB), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today reported financial results for the quarter and year ended December 31, 2017.
Financial Highlights for the 13 Weeks Ended December 31, 2017 Compared to the 12 Weeks Ended December 25, 2016
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Total revenues were $342.4 million, an increase of 17.5%;
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Net income was $8.8 million compared to net loss of $8.8 million;
•
Comparable restaurant revenue increased 2.7% (using constant currency rates);
•
Comparable restaurant guest counts increased 1.9%;
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Off-premise increased to 8.3% of total food and beverage sales compared to 5.7%;
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Adjusted EBITDA was $35.8 million compared to $29.2 million (see Schedule III);
•
GAAP earnings per diluted share were $0.68 compared to GAAP loss per diluted share of $0.68; and
•
Adjusted earnings per diluted share were $0.78 compared to $0.35 (see Schedule I).
Financial Highlights for the 53 Weeks Ended December 31, 2017 Compared to the 52 Weeks Ended December 25, 2016
•
Total revenues were $1.4 billion, an increase of 6.5%;
•
Net income was $30.0 million compared to $11.7 million;
•
Comparable restaurant revenue increased 0.6% (using constant currency rates);
•
Comparable restaurant guest counts increased 0.4%;
•
Adjusted EBITDA was $139.4 million compared to $138.3 million (see Schedule III);
•
GAAP earnings per diluted share were $2.31 compared to $0.87; and
•
Adjusted earnings per diluted share were $2.49 compared to $2.78 (see Schedule I).
“We outperformed the casual dining industry on Guest traffic for the sixth consecutive quarter and ended 2017 with positive same store sales, while making considerable progress on the critical changes that will make Red Robin successful in 2018 and beyond,” said Denny Marie Post, Red Robin Gourmet Burgers, Inc. chief executive officer. “While positive trends in Guest counts, restaurant revenues, controllable labor, value perception and off-premise demand are all encouraging, we know we also need to continue to evolve our service model, make smart investments in technology and maximize growth of new channels. We will continue to innovate and move urgently in the areas of the business that matter most to our Guests, benefit our Team Members and drive growth.”
Operating Results
Total revenues, which primarily include Company-owned restaurant revenue and franchise royalties, increased 17.5% to $342.4 million in the fourth quarter of 2017 from $291.5 million in the fourth quarter of 2016. Restaurant revenue increased $50.2 million, with the thirteenth week in the fourth quarter of 2017 contributing $29.8 million in restaurant revenue. The remaining increase was due to a $14.2 million increase in revenue from new restaurant openings and a $8.2 million, or 2.7%, increase in comparable restaurant revenue, partially offset by $1.5 million from closed restaurants and a $0.5 million unfavorable foreign currency impact.
System-wide restaurant revenue (which includes franchised units) for the fourth quarter of 2017 totaled $404.1 million, compared to $347.1 million for the fourth quarter of 2016.
Comparable restaurant revenue(1) increased 2.7% in the fourth quarter of 2017 compared to the same period a year ago, driven by a 1.9% increase in guest counts and a 0.8% increase in average guest check. The increase in average guest check comprised a 2.6% increase in pricing, partially offset by a 1.8% decrease in menu mix. The Company’s comparable revenue growth is calculated by comparing the same calendar weeks which, for 2016, include the first week of 2017.
Restaurant-level operating profit margin (a non-GAAP financial measure) increased to 20.5% in the fourth quarter of 2017 from 19.8% in the same period a year ago. The 70 basis point margin increase in the fourth quarter of 2017 resulted from a 100 basis point decrease in labor costs, a 50 basis point decrease in other restaurant operating expenses, and a 20 basis point decrease in occupancy costs, offset by a 90 basis point increase in cost of sales. Schedule II of this earnings release defines restaurant-level operating profit, discusses why it is a useful metric for investors, and reconciles this metric to income from operations and net income, in each case under GAAP.
________________________________________
(1)
Comparable restaurants are those Company-owned restaurants that have operated five full quarters during the period presented, and such restaurants are only included in the comparable metrics if they are comparable for the entirety of both periods presented.



The following information was filed by Red Robin Gourmet Burgers Inc (RRGB) on Thursday, February 22, 2018 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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Inside Red Robin Gourmet Burgers Inc's 10-K Annual Report:

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 Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Operations (parenthetical)
Consolidated Statements Of Stockholders' Equity
Accrued Payroll And Payroll-related Liabilities, And Accrued Liabilities And Other Current Liabilities
Accrued Payroll And Payroll-related Liabilities, And Accrued Liabilities And Other Current Liabilities (details)
Accrued Payroll And Payroll-related Liabilities, And Accrued Liabilities And Other Current Liabilities (tables)
Borrowings
Borrowings (details 2)
Borrowings (details 3)
Borrowings (details)
Borrowings (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Derivative And Other Comprehensive Income
Derivative And Other Comprehensive Income (details)
Description Of Business And Summary Of Significant Accounting Policies
Description Of Business And Summary Of Significant Accounting Policies (details 2)
Description Of Business And Summary Of Significant Accounting Policies (details 3)
Description Of Business And Summary Of Significant Accounting Policies (details 4)
Description Of Business And Summary Of Significant Accounting Policies (details 5)
Description Of Business And Summary Of Significant Accounting Policies (details 6)
Description Of Business And Summary Of Significant Accounting Policies (details)
Description Of Business And Summary Of Significant Accounting Policies (policies)
Description Of Business And Summary Of Significant Accounting Policies (tables)
Employee Benefit Programs
Employee Benefit Programs (details)
Fair Value Measurements
Fair Value Measurements (details 2)
Fair Value Measurements (details)
Fair Value Measurements (tables)
Franchise Operations
Franchise Operations (details)
Franchise Operations (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (details 2)
Goodwill And Intangible Assets (details)
Goodwill And Intangible Assets (tables)
Income Taxes
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details 4)
Income Taxes (details)
Income Taxes (tables)
Other Charges
Other Charges - Additional Information (details)
Other Charges - Summary Of Other Charges (details)
Other Charges Other Charges (tables)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Quarterly Results Of Operations (unaudited)
Quarterly Results Of Operations (unaudited) (details)
Quarterly Results Of Operations (unaudited) (tables)
Recent Accounting Pronouncements
Recent Accounting Pronouncements (details)
Recent Accounting Pronouncements (tables)
Stock Incentive Plans
Stock Incentive Plans (details)
Stock Incentive Plans (tables)
Stock Incentive Plans - Summary Of Options (details)
Stock Incentive Plans - Summary Of Time-based Rsus And Performance Stock Units (details)
Stock Incentive Plans - Summary Of Weighted Average Assumptions (details)
Stockholders' Equity
Stockholders' Equity (details)
Supplemental Disclosures To Consolidated Statements Of Cash Flows
Supplemental Disclosures To Consolidated Statements Of Cash Flows (details)
Supplemental Disclosures To Consolidated Statements Of Cash Flows (tables)
Ticker: RRGB
CIK: 1171759
Form Type: 10-K Annual Report
Accession Number: 0001171759-18-000007
Submitted to the SEC: Tue Feb 27 2018 4:15:55 PM EST
Accepted by the SEC: Tue Feb 27 2018
Period: Sunday, December 31, 2017
Industry: Retail Eating Places

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