Ich stehe auf Benihana, es gibt faktisch kaum Umsätze an der Nasi, extrem markteng,
aber der Report war vom Allerfeinsten.
Die Zahlen haben mich absolut überzeugt, ich habe 150 Stücke seit 12,30.
Jetzt haben sie noch ein paar Sushi-Bars übernommen, Wachstum ist programmiert.
Earning per Share + 240%!, Net Income +280%!
Die Effektivität dieser Zahlen ist kaum zu toppen, irgendwann kommen die gross raus,
waran soll ich mich sonst halten?
Gruss E.
chart.bigcharts.com/bc3/quickchart/...78&mocktick=1&rand=5063" style="max-width:560px" >
Benihana Inc. Reports Operating Results for Second Quarter and Year to Date
Friday, November 8, 2002 07:30 AM ET Printer-friendly version
MIAMI--(BUSINESS WIRE)--Nov. 8, 2002--Benihana Inc. (NASDAQ: BNHNA and BNHN), operator of one of the nation's largest chains of Asian restaurants, today reported operating results for the second fiscal quarter (12 weeks) and year to date (28 weeks) ended October 13, 2002.
For the second quarter ended October 13, 2002, total revenue amounted to $42.0 million, compared with $37.5 million in the corresponding year-ago period, an increase of 11.9%. Gross profit (sales less direct food and beverage costs) totaled $31.4 million, compared with $27.6 million in the corresponding year-ago period, an increase of 13.4%, with gross profit margins at 75.2% and 74.3%, respectively. Restaurant operating expenses (costs incurred at the restaurant level) increased 10.4%, to $25.8 million, and restaurant operating profit amounted to $5.5 million, compared with $4.2 million a year ago, 30.2% higher. Net income was $1.5 million, or $0.16 per share fully diluted, compared with $0.4 million, or $0.05 per share, in last year's 9/11-impacted second quarter. Company-wide comparable restaurant sales for the second quarter increased 7.5%, with comparable sales at the 54 Benihana teppanyaki restaurants ahead 4.7%. EBITDA (earnings before interest, taxes, depreciation and amortization) rose to $3.8 million, from $1.9 million, a year ago.
For the two quarters ended October 13, 2002, total revenues increased 12.1%, to $99.1 million, from $88.4 million from the corresponding period a year earlier. Gross profit totaled $74.1 million, compared with $64.9 million in the corresponding year-ago two quarters, with gross profit margins at 75.3 % and 74.0%, respectively. Restaurant operating expenses totaled $59.6 million, an increase of 14.3% above the corresponding year ago period, with labor and related costs totaling $37.6 million, 15.3% greater than a year ago. Net income amounted to $4.2 million, or $0.45 per share fully diluted, compared with $2.8 million, or $0.37 per share fully diluted a year ago, a gain in net income of 49.9%. EBITDA amounted to $10.1 million, compared with $7.4 million a year earlier, an increase of 36.7%.
Sales at Benihana teppanyaki restaurants, representing approximately 88% of total sales, increased 8.3%, to $36.5 million in the second quarter of fiscal 2003, and for the two quarters rose 7.7%, to $86.6 million. Reflecting the addition of three new restaurants to what is now a five restaurant chain, sales at Haru increased 55.6%, to $4.7 million, and 75.2%, to $10.9 million, in the second quarter and two quarters, respectively. Profit margins at the Haru restaurants have been in line with the Company's expectations.
"The first half of this year has been unusually challenging for our Company," said Joel A. Schwartz, Benihana President. "The general economy has clearly slowed things down somewhat, but our experience is that people are continuing to enjoy dining out and Benihana, with our combination of tasty, quality Asian food and entertainment, remains high on their list, as the comparable sales figures underscore. Our focus is on bringing down costs, while further increasing traffic and revenue, and expanding our nationwide chain."
At present, Benihana has under development new teppanyaki restaurants in Westbury, Long Island, New York, which is expected to open this fiscal year, plus Scottsdale, Arizona, Alpharetta, Georgia, and Carlsbad, California. Additional sites for teppanyaki restaurants are under consideration.
About Benihana
Benihana, now in its 38th year since its founding, and one of the nation's largest chains of Asian restaurants, currently operates 61 restaurants nationwide, including 54 Benihana teppanyaki restaurants, five Haru sushi restaurants and two Doraku restaurants. Four Benihana teppanyaki restaurants are currently under development. In addition, a total of 22 franchised Benihana teppanyaki restaurants are now open or under development in the U.S. and Latin America.
Statements in this press release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items, together with other statements that are not historical facts, are "forward-looking statements" as that term is defined under Federal Securities Laws. "Forward-looking statements" are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to, changes in customers' tastes and preferences, acceptance of the Company's concepts in new locations, obtaining qualified personnel, industry cyclicality, fluctuations in customer demand, the seasonal nature of the business, fluctuations of commodities costs, the ability to complete construction of new units in a timely manner, obtaining governmental permits on a reasonably timely basis, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any obligations to update any forward-looking statement as a result of developments occurring after the date of this press release.
A conference call conducted by Benihana Inc. management will take place on November 8, 2002 at 11:30 A.M. (ET). You may listen over the Internet through World Investor Broadcast Link's Vcall website, located at
www.vcall.com. To listen to the live call on the Internet, please go to the web site at least fifteen minutes early to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available through midnight November 24, 2002, shortly following the live call. For replay, dial 1-877-519-4471. You will be prompted for PIN number 3566687.
Benihana Inc.
Consolidated Statement of Operations
(Unaudited)
Three Periods Ended
(amounts in thousands except per share data)
Oct. 13, Oct. 14, Change % Change
2002 2001
Restaurant sales $ 41,676 $ 37,209 $4,467 12.0%
Franchise revenues 282 277 5 1.8%
41,958 37,486 4,472 11.9%
Cost of sales 10,323 9,560 763 8.0%
Gross profit 31,353 27,649 3,704 13.4%
Restaurant operating expenses:
Labor and related costs 16,306 14,675 1,631 11.1%
Restaurant supplies 902 858 44 5.1%
Credit card discounts 721 640 81 12.7%
Utilities 1,096 1,030 66 6.4%
Occupancy costs 2,255 2,269 (14) -0.6%
Depreciation and amortization 1,510 1,238 272 22.0%
Other restaurant operating
expenses 3,047 2,702 345 12.8%
Total restaurant operating
expenses 25,837 23,412 2,425 10.4%
Restaurant operating profit 5,516 4,237 1,279 30.2%
Restaurant opening costs 116 354 (238) -67.2%
Impairment charge - 438 (438) -100.0%
Marketing, general and
administrative 3,381 3,204 177 5.5%
Income from operations 2,301 518 1,783 344.2%
Interest 108 250 (142) -56.8%
Minority interest 111 (33) 144 -436.4%
Income before income taxes 2,082 301 1,781 591.7%
Income taxes 630 (81) 711 -877.8%
Net income $1,452 $ 382 $1,070 280.1%
Earnings per share, basic $ 0.17 $ 0.05 $ 0.12 240.0%
Earnings per share, diluted $ 0.16 $ 0.05 $ 0.11 220.0%
Shares and equivalents
outstanding 8,750,000 7,240,000
Sales by concept:
Benihana $ 36,539 $ 33,754 $ 2,785 8.3%
Haru 4,717 3,031 1,686 55.6%
Sushi Doraku 420 424 (4) -0.9%
Total sales $ 41,676 $ 37,209 $ 4,467
Other data:
Ebitda $ 3,754 $1,859 $1,895 101.9%
Seven Periods Ended
(amounts in thousands except per share data)
Oct. 13, Oct. 14, Change % Change
2002 2001
Restaurant sales $ 98,399 $ 87,675 $10,724 12.2%
Franchise revenues 718 746 (28) -3.8%
99,117 88,421 10,696 12.1%
Cost of sales 24,313 22,786 1,527 6.7%
Gross profit 74,086 64,889 9,197 14.2%
Restaurant operating expenses:
Labor and related costs 37,606 32,606 5,000 15.3%
Restaurant supplies 1,968 1,811 157 8.7%
Credit card discounts 1,690 1,492 198 13.3%
Utilities 2,363 2,203 160 7.3%
Occupancy costs 5,447 5,052 395 7.8%
Depreciation and amortization 3,431 2,684 747 27.8%
Other restaurant operating
expenses 7,084 6,275 809 12.9%
Total restaurant operating
expenses 59,589 52,123 7,466 14.3%
Restaurant operating profit 14,497 12,766 1,731 13.6%
Restaurant opening costs 264 1,041 (777) -74.6%
Impairment charge - 438 (438) -100.0%
Marketing, general and
administrative 8,177 7,555 622 8.2%
Income from operations 6,774 4,478 2,296 51.3%
Interest 225 589 (364) -61.8%
Minority interest 268 (40) 308 -770.0%
Income before income taxes 6,281 3,929 2,352 59.9%
Income taxes 2,039 1,100 939 85.4%
Net income $ 4,242 $ 2,829 $ 1,413 49.9%
Earnings per share, basic $ 0.49 $ 0.39 $ 0.10 25.6%
Earnings per share, diluted $ 0.45 $ 0.37 $ 0.08 21.6%
Shares and equivalents
outstanding 9,452,000 7,545,000
Sales by concept:
Benihana $ 86,566 $ 80,354 $ 6,212 7.7%
Haru 10,912 6,227 4,685 75.2%
Sushi Doraku 921 1,094 (173) -15.8%
Total sales $ 98,399 $ 87,675 $ 10,724
Other data:
Ebitda $ 10,068 $7,363 $2,705 36.7%
CONTACT: For Benihana Inc.
Joel A. Schwartz/Michael R. Burris, 305/593-0770
or
Anreder Hirschhorn And Company
Corporate Relations
Steven Anreder, 212/532-3232
