FLANIGAN'S REPORTS EARNINGS

Rhea-AI Summary

FLANIGAN'S ENTERPRISES, INC. (NYSE AMERICAN: BDL) reported its earnings for the 13 and 52 weeks ending October 1, 2022. For the 13 weeks, total revenues increased to $39.72 million from $33.64 million in the previous year. Restaurant food and bar sales rose to $31.64 million, while package store sales climbed to $7.41 million.

Net income for the quarter was $1.25 million compared to $1.35 million the previous year. For the 52 weeks, total revenues also surged to $158.13 million from $137.31 million, yet net income dropped to $6.31 million from $11.78 million.

Positive

• Total revenues for the 13 weeks increased to $39.72 million, up from $33.64 million.
• 52-week total revenues increased to $158.13 million, compared to $137.31 million.

Negative

• Net income for the 13 weeks decreased to $1.25 million from $1.35 million.
• Net income for the 52 weeks dropped to $6.31 million compared to $11.78 million.

FORT LAUDERDALE, Fla., Jan. 25, 2023 /PRNewswire/ -- FLANIGAN'S ENTERPRISES, INC., (NYSE AMERICAN: BDL) owners and operators of the "Flanigan's Seafood Bar and Grill" restaurants and "Big Daddy's" retail liquor stores, announced results for the 13 weeks and the 52 weeks ended October 1, 2022.  The table below sets forth the results on a comparative basis with the 13 weeks and the 52 weeks ended October 2, 2021. 

					13 Weeks Ended			13 Weeks Ended
REVENUES					October 1, 2022			October 2, 2021
RESTAURANT FOOD AND BAR SALES					$	31,642,000		$	27,687,000
PACKAGE STORE SALES						7,407,000			5,381,000
FRANCHISE RELATED REVENUES						442,000			421,000
RENTAL INCOME						203,000			107,000
OTHER OPERATING INCOME						30,000			39,000
TOTAL REVENUES					$	39,724,000		$	33,635,000
NET INCOME ATTRIBUTABLE TO
FLANIGAN'S ENTERPRISES, INC.					$	1,253,000		$	1,354,000
NET INCOME PER COMMON SHARE
	BASIC AND DILUTED				$	0.68		$	0.73
					52 Weeks Ended			52 Weeks Ended
					October 1, 2022			October 2,  2021
RESTAURANT FOOD AND BAR SALES					$	123,627,000		$	105,298,000
PACKAGE STORE SALES						31,692,000			29,304,000
FRANCHISE RELATED REVENUES						1,826,000			1,673,000
RENTAL INCOME						814,000			770,000
OTHER OPERATING INCOME						173,000			262,000
TOTAL REVENUES					$	158,132,000		$	137,307,000
NET INCOME ATTRIBUTABLE TO
FLANIGAN'S ENTERPRISES, INC.					$	6,312,000		$	11,784,000
NET INCOME PER COMMON SHARE
	BASIC AND DILUTED				$	3.40		$	6.34

 

View original content:https://www.prnewswire.com/news-releases/flanigans-reports-earnings-301730923.html

SOURCE FLANIGAN'S ENTERPRISES, INC.

FAQ

What were Flanigan's Enterprises earnings for the 13 weeks ended October 1, 2022?

Flanigan's Enterprises reported earnings of $39.72 million for the 13 weeks ended October 1, 2022.

How did the net income of Flanigan's Enterprises change in the last quarter?

Net income for the last quarter decreased to $1.25 million from $1.35 million.

What was Flanigan's Enterprises total revenue for the 52 weeks ended October 1, 2022?

Total revenue for the 52 weeks ended October 1, 2022, was $158.13 million.

Did Flanigan's Enterprises experience any decline in net income over the past year?

Yes, net income for the 52 weeks decreased to $6.31 million from $11.78 million.