Brinker International Inc. has a market cap of $1.93 billion; its shares were traded at around $22.78 with a P/E ratio of 13.98 and P/S ratio of 0.7. The dividend yield of Brinker International Inc. stocks is 2.81%. Brinker International Inc. had an annual average earning growth of 1.9% over the past 10 years.
Highlight of Business Operations:Royalty and franchise revenues increased 5.2% to $16.2 million in the first quarter of fiscal 2012 compared to $15.4 million in the first quarter of fiscal 2011. The increase is primarily due to the net addition of 25 international franchised restaurants since the first quarter of fiscal 2011. Royalty revenues are recognized based on the sales generated by our franchisees and reported to us. Our franchisees generated approximately $389 million in sales, an increase of 4.5% over prior year.
Restaurant labor, as a percent of revenues, decreased to 32.3% for the first quarter of fiscal 2012 as compared to 33.2% in the same period of fiscal 2011 driven by decreased hourly labor costs resulting from food preparation initiatives at
Restaurant expenses, as a percent of revenues, decreased to 24.8% for the first quarter of fiscal 2012 as compared to 25.2% in the same period of the prior year primarily driven by sales leverage on fixed costs.
The effective income tax rate increased to 29.8% for the first quarter of fiscal 2012 compared to 20.4% for the same quarter of last year. The increase is primarily due to increased earnings in the current quarter, a decrease in special charges and the positive impact from the resolution of certain state tax positions in the prior year. Excluding the impact of discrete items, the effective income tax rate increased to 30.2% in the current quarter from 27.9% in the same quarter last year primarily driven by increased earnings.
During the first quarter of fiscal 2012, net cash flow provided by operating activities was $30.9 million compared to net cash flow used in operating activities of $6.6 million in the prior year. The increase was driven by an increase in earnings in the current year and significant changes in working capital during the first quarter of fiscal 2011 primarily due to the sale of On The Border. Cash paid for taxes in the prior year was significantly higher in comparison to the current year due to the gain realized on the On The Border sale. The settlement of
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