Brinker Q2 income tops $18 million
January 20, 2010
by Eric Schroeder
DALLAS — Net income at Brinker International in the second quarter ended Dec. 23 totaled $18,324,000, equal to 18c per share on the common stock. This compared with a loss of $21,764,000 in the same period a year ago.
Total revenue for the quarter was $781,853,000, down 18% from $949,425,000 in the second quarter of fiscal 2009. The decline in revenues primarily reflected the sale of 189 Romano’s Macaroni Grill restaurants at the end of the second quarter of fiscal 2009.
Overall, the company had a 3.1% decline in comparable restaurant sales in the second quarter as a result of decreases across all brands. In addition, revenue was impacted negatively by a net decline in capacity as the result of the sale of 21 restaurants to franchisees and 47 restaurant closings since the second quarter of fiscal 2009.
For the six months ended Dec. 23, net income totaled $34,091,000, or 33c per share, up from $2,017,000, or 2c per share, in the same period a year ago. Total revenue for the period fell 19% to $1,559,934,000 from $1,933,832,000.