FLANIGAN'S REPORTS EARNINGS

Rhea-AI Summary

Flanigan's Enterprises (NYSE AMERICAN: BDL) reported financial results for the 13 and 52 weeks ended October 2, 2021, highlighting significant revenue growth. Restaurant sales increased to $27.7 million from $20.3 million, while total revenues for the 52 weeks rose to $137.3 million from $113 million. Net income attributable to Flanigan's reached $11.8 million, or $6.34 per share, compared to $1.11 million, or $0.60 per share in the prior year. The company indicated a strong recovery in the restaurant segment, positioning itself well for future growth.

Positive

• Restaurant food and bar sales increased by $7.34 million to $27.69 million for the 13 weeks ended October 2, 2021.
• Total revenues grew by $24.33 million to $137.31 million for the 52 weeks ended October 2, 2021.
• Net income attributable to Flanigan's rose significantly to $11.78 million from $1.11 million year-over-year.

Negative

• Package store sales declined from $7.44 million to $5.38 million during the 13-week comparison.
• Franchise-related revenues grew modestly from $315,000 to $421,000, indicating slower growth in this segment.

FORT LAUDERDALE, Fla., Jan. 18, 2022 /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, today announced results for the 13 weeks and the 52 weeks ended October 2, 2021. The table below sets forth the results on a comparative basis with the 14 weeks and 53 weeks ended October 3, 2020.

					13 Weeks Ended			14 Weeks Ended
REVENUES					October 2, 2021			October 3, 2020
RESTAURANT FOOD AND BAR SALES					$	27,687,000		$	20,347,000
PACKAGE STORE SALES						5,381,000			7,443,000
FRANCHISE RELATED REVENUES						421,000			315,000
RENTAL INCOME						107,000			126,000
OTHER OPERATING INCOME (LOSS)						39,000			14,000
TOTAL REVENUES					$	33,635,000		$	28,245,000
NET INCOME ATTRIBUTABLE TO
FLANIGAN'S ENTERPRISES, INC.					$	1,354,000		$	423,000
NET INCOME PER COMMON SHARE
	BASIC AND DILUTED				$	0.73		$	0.22
					52 Weeks Ended			53 Weeks Ended
					October 2, 2021			October 3, 2020
RESTAURANT FOOD AND BAR SALES					$	105,298,000		$	84,652,000
PACKAGE STORE SALES						29,304,000			26,276,000
FRANCHISE RELATED REVENUES						1,673,000			1,260,000
RENTAL INCOME						770,000			680,000
OTHER OPERATING INCOME						262,000			109,000
TOTAL REVENUES					$	137,307,000		$	112,977,000
NET INCOME ATTRIBUTABLE TO
FLANIGAN'S ENTERPRISES, INC.					$	11,784,000		$	1,110,000
NET INCOME PER COMMON SHARE
	BASIC AND DILUTED				$	6.34		$	0.60

 

View original content:https://www.prnewswire.com/news-releases/flanigans-reports-earnings-301463239.html

SOURCE FLANIGAN'S ENTERPRISES, INC.

FAQ

What were the earnings results for Flanigan's Enterprises (BDL) for the 13 weeks ended October 2, 2021?

Flanigan's reported restaurant sales of $27.69 million for the 13 weeks ended October 2, 2021, with total revenues reaching $33.64 million.

How much net income did Flanigan's Enterprises (BDL) report for the 52 weeks ended October 2, 2021?

Flanigan's reported net income attributable to the company of $11.78 million, or $6.34 per share for the 52 weeks ended October 2, 2021.

What is the outlook for Flanigan's Enterprises (BDL) following its recent earnings report?

The substantial growth in restaurant sales and overall revenues suggests a positive outlook for Flanigan's as it continues to recover.