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FLANIGAN'S Reports Earnings

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Flanigan's Enterprises, Inc. (NYSE AMERICAN: BDL) reported financial results for the 14 and 53 weeks ending October 3, 2020. Total revenues decreased to $28.2 million in the 14 weeks compared to $29.1 million in the same period the previous year. For the full year, revenues fell to $113 million from $116.2 million in 2019. Net income attributable to Flanigan's was $423,000 for the quarter and $1.1 million for the year, down from $916,000 and $3.6 million, respectively. Earnings per share were $0.22 for the quarter and $0.60 for the year.

Positive
  • Package store sales increased to $7.4 million from $4.3 million in the prior year quarter.
  • Franchise-related revenues were $315,000, showing resilience in a challenging environment.
Negative
  • Overall total revenues decreased from $29.1 million to $28.2 million year-over-year for the 14 weeks.
  • Net income fell significantly from $916,000 to $423,000 for the quarter, indicating profitability challenges.
  • Earnings per share dropped to $0.22 from $0.49 for the quarter and to $0.60 from $1.96 for the year.

FORT LAUDERDALE, Fla., Jan. 19, 2021 /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 14 weeks and the 53 weeks ended  October 3, 2020.  The table below sets forth the results on a comparative basis with the 13 weeks and 52 weeks ended September 28, 2019.


For the 14 weeks


For the 13 weeks


ended Oct. 3,


ended Sept. 28,


2020


2019

REVENUES








RESTAURANT FOOD AND




          BAR SALES  

$ 20,347,000


$ 24,076,000

PACKAGE STORE SALES

7,443,000


4,348,000

FRANCHISE RELATED REVENUES  

315,000


400,000

RENTAL INCOME 

126,000


186,000

OTHER OPERATING INCOME   

14,000


50,000





TOTAL REVENUES

$ 28,245,000


$ 29,060,000









NET INCOME ATTRIBUTABLE 




TO FLANIGAN'S ENTERPRISES, INC  

$     423,000


$       916,000









NET INCOME PER COMMON SHARE




BASIC AND DILUTED 

$             .22


$               .49






















For the 53 weeks  


For the 52 weeks


ended Oct. 3,   


ended Sept. 28,


2020


2019





RESTAURANT FOOD AND




          BAR SALES 

$     84,652,000


$   94,290,000

PACKAGE STORE SALES

26,276,000


19,327,000

FRANCHISE RELATED REVENUES

1,260,000


1,610,000

RENTAL INCOME

680,000


762,000

OTHER OPERATING INCOME

109,000


213,000





          TOTAL REVENUES

$  112,977,000


$ 116,202,000









NET INCOME ATTRIBUTABLE 




TO FLANIGAN'S ENTERPRISES, INC.

$     1,110,000


$   3,648,000









NET INCOME PER COMMON SHARE




BASIC AND DILUTED 

$              0.60


$          1.96





                                                   

Cision View original content:http://www.prnewswire.com/news-releases/flanigans-reports-earnings-301210971.html

SOURCE FLANIGAN'S ENTERPRISES, INC.

FAQ

What were Flanigan's Enterprises earnings for the fourth quarter of 2020?

Flanigan's Enterprises reported net income of $423,000 for the fourth quarter ending October 3, 2020.

How did Flanigan's total revenues perform in 2020 compared to 2019?

Total revenues for Flanigan's decreased from $116.2 million in 2019 to $113 million in 2020.

What is the stock performance impact for BDL after the earnings report?

The drop in revenues and net income could negatively impact investor sentiment and stock performance for BDL.

What is the year-over-year change in Flanigan's earnings per share?

Earnings per share decreased from $1.96 in 2019 to $0.60 in 2020.

Flanigan's Enterprises Inc

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