| P.F. Chang’s China Bistro
Earnings Call |
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PF Chang’s China Bistro First Quarter Earnings Call
30th April 2008 00:00 AM |
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| The company has started a test in a few locations, aiming to improve overall profitability at current sales levels. |
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| The operator of restaurants reported revenue of $309 million, up 17% over last year, on increase in new stores. The higher costs pushed the net income down to $9.6 million or 40 cents a share versus $10.5 million or 40 cents a share in prior year. Average weekly sales for the 11 Pei Weis and 5 Bistros opened during Q1 were strong and new Pei Weis averaged $40,800 a week, well above the system average of $36,700. For fiscal 2008, the firm anticipates EPS in the range of $1.34 to $1.40. |
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PF Chang’s Fourth Quarter Earnings Call
14th February 2008 00:00 AM |
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| Revenues rose 16.2% to $292 million from $252 million in the prior year due to stronger weekly sales. |
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| The restaurateur reported a drop in earnings to $7 million or 28 cents a share, from $8.8 million or 34 cents a share in the prior year due to higher costs and expenses related to marketing. The firm expects to open seventeen (17) new Bistro restaurants and twenty five (25) new Pei Wei restaurants in 2008, which will drive revenues up 14%. The firm repurchased $1.8 million shares using $50 million leaving another $50 million under the current authorization. |
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P.F. Chang’s China Bistro First Quarter Earnings Call
13th December 2007 00:00 AM |
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| Operating expenses were 20 basis points unfavorable, driven by 40 basis point unfavorable variance at the Bistro. |
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| Revenues were $264.4 million versus $268.4 million last year, primarily as a result of reduced customer traffic at Bistro restaurants. New restaurants’ average weekly sales were $37,100. G&A expenses were 30 basis points unfavorable, due in part to an increase in Bistro incentive compensation expense as more partners chose to be bought out and moved to the management incentive plan. Tax rate was favorable to forecast due to a non-recurring reversal of a discrete tax item. |
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P.F. Chang’s China Bistro Fourth Quarter Earnings Call
13th December 2007 00:00 AM |
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| Consolidated revenue was $252 million, primarily as a result of the new Bistro locations opened during the quarter reporting better than forecast. |
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| The restaurant chain reported revenues of $50.2 million, ahead of forecasted $50 million. Sales were worse in November than expected, due to some bad weather in Texas but were better in December than expected. Because taxable income was higher than anticipated and because the company saw decrease in tip credits, effective tax rate came in at 32.3%. In 2007, the company expects to open 36 to 38 new Pei Wei restaurants. |
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