Brinker income up narrowly in quarter
April 29, 2011
by Eric Schroeder
DALLAS — Net income at Brinker International in the third quarter ended March 30 totaled $40,246,000, equal to 46c per share on the common stock, up from $39,998,000, or 39c per share, in the same period a year ago.
Total revenue for the quarter was $717,119,000, up narrowly from $713,380,000 in the third quarter of fiscal 2010. Brinker said comparable restaurant sales at company-owned restaurants rose 0.1% during the quarter, including a 3.4% increase at Maggiano’s, which more than offset a 0.3% decrease at Chili’s.
“Brinker’s third-quarter results demonstrate the effectiveness of our sales strategies as well as our relentless focus on strengthening our business model,” said Doug Brooks, president and chief executive officer. “Guests are responding positively to the food, service and value they’re receiving at our brands, and as a result, Brinker is delivering solid progress toward our goal of doubling e.p.s. in five years.”
For the nine months ended March 30, net income was $99,141,000, or $1.06 per share, up 34% from $74,089,000, or 72c per share, in the same period a year ago. Revenues totaled $2,043,898,000, down from $2,115,438,000.