Flanigan's Enterprises Inc (BDL, Financial) filed Quarterly Report for the period ended 2011-12-31.
Flanigan's Enterprises Inc has a market cap of $13.5 million; its shares were traded at around $7.25 with a P/E ratio of 10.5 and P/S ratio of 0.2. Flanigan's Enterprises Inc had an annual average earning growth of 2.7% over the past 10 years.
Restaurant Bar Sales. Restaurant revenue generated from the sale of alcoholic beverages at restaurants (bar sales) totaled $3,093,000 for the thirteen weeks ended December 31, 2011 as compared to $2,846,000 for the thirteen weeks ended January 1, 2011. Comparable weekly restaurant bar sales (for restaurants open for all of the first quarter of our fiscal year 2012 and the first quarter of our fiscal year 2011, which consists of seven restaurants owned by us and eight restaurants owned by affiliated limited partnerships) was $230,000 for the thirteen weeks ended December 31, 2011 and $212,000 for the thirteen weeks ended January 1, 2011, an increase of 8.49%. Comparable weekly restaurant bar sales for Company owned restaurants only was $99,000 and $90,000 for the first quarter of our fiscal year 2012 and the first quarter of our fiscal year 2011, respectively, an increase of 10.00%. Comparable weekly restaurant bar sales for affiliated limited partnership owned restaurants only was $131,000 and $122,000 for the first quarter of our fiscal year 2012 and the first quarter of our fiscal year 2011, respectively, an increase of 7.38%.
Package Store Sales. Revenue generated from sales of liquor and related items at package liquor stores totaled $3,782,000 for the thirteen weeks ended December 31, 2011 as compared to $3,699,000 for the thirteen weeks ended January 1, 2011, an increase of $83,000. The weekly average of same store package liquor store sales, which includes all nine (9) Company owned package liquor stores, was $291,000 for the thirteen weeks ended December 31, 2011 as compared to $285,000 for the thirteen weeks ended January 1, 2011, an increase of 2.11%. Package liquor store sales are expected to remain stable throughout the balance of our fiscal year 2012.
Selling, General and Administrative Expenses. Selling, general and administrative expenses (consisting of general corporate expenses, including but not limited to advertising, insurance, professional costs, clerical and administrative overhead) for the thirteen weeks ended December 31, 2011 increased $204,000 or 5.58% to $3,861,000 from $3,657,000 for the thirteen weeks ended January 1, 2011. Selling, general and administrative expenses decreased as a percentage of total sales in the first quarter of our fiscal year 2012 to approximately 20.38% as compared to 20.56% in the first quarter of our fiscal year 2011. We anticipate that our selling, general and administrative expenses will increase throughout the balance of our fiscal year 2012 due primarily to the new restaurant location in Miami, Florida acquired by a limited partnership subsequent to the end of the first quarter of our fiscal year 2012 and increases across all categories.
Net Income Attributable to Stockholders. Net income for the thirteen weeks ended December 31, 2011 decreased $14,000 or 4.00% to $336,000 from $350,000 for the thirteen weeks ended January 1, 2011. As a percentage of sales, net income for the first quarter of our fiscal year 2012 is 1.77%, as compared to 1.97% in the first quarter of our fiscal year 2011.
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Flanigan's Enterprises Inc has a market cap of $13.5 million; its shares were traded at around $7.25 with a P/E ratio of 10.5 and P/S ratio of 0.2. Flanigan's Enterprises Inc had an annual average earning growth of 2.7% over the past 10 years.
Highlight of Business Operations:
Restaurant Food Sales. Restaurant revenue generated from the sale of food at restaurants totaled $11,691,000 for the thirteen weeks ended December 31, 2011 as compared to $10,914,000 for the thirteen weeks ended January 1, 2011, due in part to our menu price increases during the fourth quarter of our fiscal year 2011. Comparable weekly restaurant food sales (for restaurants open for all of the first quarter of our fiscal year 2012 and the first quarter of our fiscal year 2011, which consists of seven restaurants owned by us and eight restaurants owned by affiliated limited partnerships) was $867,000 and $810,000 for the thirteen weeks ended December 31, 2011 and January 1, 2011, respectively, an increase of 7.04%. Comparable weekly restaurant food sales for Company owned restaurants only was $380,000 and $344,000 for the first quarter of our fiscal year 2012 and the first quarter of our fiscal year 2011, respectively, an increase of 10.47%. Comparable weekly restaurant food sales for affiliated limited partnership owned restaurants only was $487,000 and $466,000 for the first quarter of our fiscal year 2012 and the first quarter of our fiscal year 2011, respectively, an increase of 4.51%.Restaurant Bar Sales. Restaurant revenue generated from the sale of alcoholic beverages at restaurants (bar sales) totaled $3,093,000 for the thirteen weeks ended December 31, 2011 as compared to $2,846,000 for the thirteen weeks ended January 1, 2011. Comparable weekly restaurant bar sales (for restaurants open for all of the first quarter of our fiscal year 2012 and the first quarter of our fiscal year 2011, which consists of seven restaurants owned by us and eight restaurants owned by affiliated limited partnerships) was $230,000 for the thirteen weeks ended December 31, 2011 and $212,000 for the thirteen weeks ended January 1, 2011, an increase of 8.49%. Comparable weekly restaurant bar sales for Company owned restaurants only was $99,000 and $90,000 for the first quarter of our fiscal year 2012 and the first quarter of our fiscal year 2011, respectively, an increase of 10.00%. Comparable weekly restaurant bar sales for affiliated limited partnership owned restaurants only was $131,000 and $122,000 for the first quarter of our fiscal year 2012 and the first quarter of our fiscal year 2011, respectively, an increase of 7.38%.
Package Store Sales. Revenue generated from sales of liquor and related items at package liquor stores totaled $3,782,000 for the thirteen weeks ended December 31, 2011 as compared to $3,699,000 for the thirteen weeks ended January 1, 2011, an increase of $83,000. The weekly average of same store package liquor store sales, which includes all nine (9) Company owned package liquor stores, was $291,000 for the thirteen weeks ended December 31, 2011 as compared to $285,000 for the thirteen weeks ended January 1, 2011, an increase of 2.11%. Package liquor store sales are expected to remain stable throughout the balance of our fiscal year 2012.
Selling, General and Administrative Expenses. Selling, general and administrative expenses (consisting of general corporate expenses, including but not limited to advertising, insurance, professional costs, clerical and administrative overhead) for the thirteen weeks ended December 31, 2011 increased $204,000 or 5.58% to $3,861,000 from $3,657,000 for the thirteen weeks ended January 1, 2011. Selling, general and administrative expenses decreased as a percentage of total sales in the first quarter of our fiscal year 2012 to approximately 20.38% as compared to 20.56% in the first quarter of our fiscal year 2011. We anticipate that our selling, general and administrative expenses will increase throughout the balance of our fiscal year 2012 due primarily to the new restaurant location in Miami, Florida acquired by a limited partnership subsequent to the end of the first quarter of our fiscal year 2012 and increases across all categories.
Net Income Attributable to Stockholders. Net income for the thirteen weeks ended December 31, 2011 decreased $14,000 or 4.00% to $336,000 from $350,000 for the thirteen weeks ended January 1, 2011. As a percentage of sales, net income for the first quarter of our fiscal year 2012 is 1.77%, as compared to 1.97% in the first quarter of our fiscal year 2011.
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