LRI Holdings reports fiscal Q3 net loss of US$1.7M, compared to year-ago earnings of US$500,000, as net sales fall 3.3% to US$169.1M
Nevin Barich
NASHVILLE, Tennessee
,
June 11, 2014
(press release)
–
LRI Holdings, Inc., the parent company of Logan's Roadhouse, Inc., today announced financial results for the third quarter and year-to-date periods of fiscal year 2014 ended April 27, 2014.
Industry Intelligence Editor's Note: This press release omits select charts and/or marketing language for editorial clarity. Click here to view the full report.
Selected Highlights for the Third Quarter 2014 Compared to the Third Quarter 2013:
Net sales decreased 3.3% to $169.1 million from $174.9 million.
Comparable restaurant sales decreased 3.2%, average check increased by 3.9%, and customer traffic decreased by 6.8%.
Net loss of $1.7 million compared to net income of $0.5 million.
Adjusted EBITDA decreased 19.4% to $17.2 million from $21.4 million. (*)
Selected Highlights for Year-to-Date 2014 Compared to Year-to-Date 2013:
Net sales decreased 3.4% to $469.2 million from $485.7 million.
Comparable restaurant sales decreased 4.5%, average check increased by 2.8%, and customer traffic decreased by 7.1%.
Net loss of $22.8 million compared to net loss of $4.0 million.
Adjusted EBITDA decreased 29.9% to $33.7 million from $48.1 million. (*)
(*) Please see reconciliation table at the end of this release.
Additional discussion and analysis of the Company's financial condition and results of operations can be found in its Quarterly Report on Form 10-Q for the fiscal period ended April 27,
2014. It is available at www.logansroadhouse.com under the investor relations section.
Conference Call
The Company will host a conference call on Thursday, June 12, 2014 at 10:30 a.m. ET to discuss its financial results for the third quarter and year-to-date periods of fiscal year 2014.
The conference call will be hosted by Mike Andres, President, Chief Executive Officer, and Chairman, and Amy Bertauski, Chief Financial Officer.
The domestic dial-in number for the call is 877-407-0784, and the international dial-in number is 201-689-8560. Please call approximately 10 minutes in advance to ensure that you are connected prior to the presentation. A telephone replay will be available beginning at 1:30 p.m. ET on Thursday, June 12, 2014 through 11:59 p.m. ET on Thursday, June 19, 2014 and may be accessed by using the domestic replay number 877-870-5176 or the international replay number 858-384-5517; the passcode is 13581999. The archived webcast may be accessed at http://public.viavid.com/index.php?id=109105 and will be available for one year.
About Logan's Roadhouse
Logan's opened its first restaurant in 1991 in Lexington, KY, and has grown as an affordable, full-service casual dining steakhouse offering specially seasoned aged steaks and sizzling southern-inspired dishes in a roadhouse atmosphere. Headquartered in Nashville, Tennessee, Logan's Roadhouse presently runs 234 company-operated and 26 franchised Logan's Roadhouse restaurants in 23 states. LRI Holdings, Inc. is the parent company of Logan's Roadhouse.
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