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Benihana Inc. (BNHN) filed Quarterly Report for the period ended 2012-01-01.
Benihana Inc. has a market cap of $208.2 million; its shares were traded at around $11.64 with a P/E ratio of 35.2 and P/S ratio of 0.6. The dividend yield of Benihana Inc. stocks is 2.8%.
This is the annual revenues and earnings per share of BNHN over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of BNHN.
Highlight of Business Operations:
Total revenues increased $4.1 million, or 5.6%, to $77.0 million, net income decreased $1.1 million to $1.0 million and earnings per diluted share decreased $0.06 to $0.06 in the three periods ended January 1, 2012, compared to the corresponding prior year period. Operating income increased $0.3 million to $1.6 million in the three periods ended January 1, 2012. Restaurant operating income increased $0.9 million, while general and administrative expenses increased $0.6 million year-over-year. As discussed more fully in the “Costs and Expenses” heading below, certain non-recurring costs are included in general and administrative expenses in both periods, impacting comparability.Total revenues increased $13.9 million, or 5.7%, to $259.8 million, net income improved $3.1 million to net income of $3.9 million and earnings per diluted share increased to $0.20 in the ten periods ended January 1, 2012, compared to the corresponding prior year period. Operating income improved $5.0 million to $4.9 million in the ten periods ended January 1, 2012, compared to a loss of $0.2 million the corresponding prior year period. Restaurant operating income increased $4.1 million, while general and administrative expenses decreased $1.0 million year-over-year. In addition to certain non-recurring costs included in both periods, the comparability of general and administrative expenses for the year-to-date period is impacted by a $1.9 million increase in stock-based compensation primarily related to the vesting of restricted share awards granted to certain executives pursuant to their employment agreements.
Benihana (Teppanyaki) – Sales for the Benihana teppanyaki restaurants increased $3.4 million, or 6.8%, for the three periods ended January 1, 2012 as compared to the same period in the prior year. The increase is primarily attributable to increases in sales from restaurants opened longer than one year of $4.0 million, offset by lost sales from temporary restaurant closures of $0.6 million. Total comparable restaurant sales for Benihana teppanyaki restaurants opened longer than one year increased 8.2%, consisting of an increase of 6.4% in dine-in guest counts and a 1.5% increase in the average per person dine-in guest check. The average comparable per person dine-in guest check amount was $27.32 during the three periods ended January 1, 2012 compared to $26.90 during the same period in the prior year.
Haru - Sales for the Haru restaurants increased $0.1 million, or 1.0%, for the three periods ended January 1, 2012 compared to the same period in the prior year. The increase is primarily attributable to sales from restaurants opened longer than one year, offset by the lost sales from the permanent closure of our Philadelphia location in May 2011. Total comparable restaurant sales for Haru restaurants increased 3.7%. Comparable dine-in sales, which comprised 66% percent of restaurant sales, increased 4.4% primarily due to a 4.8% increase in dine-in guest counts offset by a 0.4% decrease in the average per person dine-in guest check. The average comparable per person dine-in guest check amount was $30.92 during the three periods ended January 1, 2012 compared to $31.04 during the same period in the prior year. Comparable take-out sales, which comprised approximately 34% of comparable restaurant sales, increased 2.4%.
Haru - Sales for the Haru restaurants decreased $0.6 million, or 2.3%, for the ten periods ended January 1, 2012 compared to the same period in the prior year. The decrease is attributable to lost sales of $0.7 million as a result of the permanent closure of our Philadelphia location in May 2011 offset by an increase in sales from restaurants opened longer than one year of $0.1 million. Total comparable restaurant sales for Haru restaurants increased 0.5%. Comparable dine-in sales, which comprised 67% percent of restaurant sales, increased 0.7% driven by a 0.9% decrease in dine-in guest counts offset by a 0.1% decrease in the average per person dine-in guest check. The average comparable per person dine-in guest check amount was $30.77 during both the ten periods ended January 1, 2012 compared to $30.81 during the same period in the prior year. Comparable take-out sales, which comprised approximately 32% of comparable restaurant sales, decreased 0.3%.
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