FLANIGAN'S Reports Earnings
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.
- 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.
- 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 | |||
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 | |||
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 | ||
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 | |
View original content:http://www.prnewswire.com/news-releases/flanigans-reports-earnings-301210971.html
SOURCE FLANIGAN'S ENTERPRISES, INC.
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