Business
BJ’s Restaurants, Inc. Reports Fiscal Fourth Quarter and Fiscal 2019 Results
Declares Quarterly Cash Dividend of $0.13 Per Share HUNTINGTON BEACH, Calif., Feb. 20, 2020 (GLOBE NEWSWIRE) -- BJ’s Restaurants, Inc. (NASDAQ: BJRI) today
About this update from Bj's Restaurants, Inc.
[{"type":"text","content":"Declares Quarterly Cash Dividend of $0.13 Per Share\nHUNTINGTON BEACH, Calif., Feb. 20, 2020 (GLOBE NEWSWIRE) -- BJ’s Restaurants, Inc. (NASDAQ: BJRI) today reported financial results for its 2019 fourth quarter and fiscal year that ended Tuesday, December 31, 2019.\n Fourth Quarter 2019 Highlights Compared to Fourth Quarter 2018 Total revenues grew 3.8% to $291.1 millionTotal restaurant operating weeks increased approximately 3.0%Comparable restaurant sales increased 0.4% Net income of $14.5 million compared to $10.7 million -- Fourth quarter 2019 net income benefited from a $4.7 million pre-tax gain related to two sale-leaseback transactions, partially offset by a $0.6 million pre-tax expense related to the adoption of ASU 2016-02 on January 2, 2019, regarding lease accounting. Diluted net income per share of $0.75 compared to $0.49 -- Fourth quarter 2019 diluted net income per share benefited from a $0.21 net gain related to the adoption of ASU 2016-02 on January 2, 2019, which impacted the accounting for leases and sale-leaseback transactions. Fiscal 2019 Highlights Compared to Fiscal 2018 Total revenues grew 4.0% to $1.2 billionTotal restaurant operating weeks increased approximately 2.8%Comparable restaurant sales increased 1.1% Net income of $45.2 million compared to $50.8 million -- Fiscal 2019 net income benefited from a $4.7 million pre-tax gain related to two sale-leaseback transactions, partially offset by a $2.3 million pre-tax expense related to the adoption of ASU 2016-02 on January 2, 2019, regarding lease accounting.-- Fiscal 2018 net income includes a $3.9 million excess tax benefit from equity awardsDiluted net income per share of $2.20 compared to $2.35 -- Fiscal 2019 diluted net income per share benefited from a $0.12 net gain related to the adoption of ASU 2016-02 on January 2, 2019, which impacted the accounting for leases and sale-leaseback transactions. -- Fiscal 2018 diluted net income per share includes an $0.18 excess tax benefit from equity awards “The strength of the BJ’s concept and brand, our innovative sales driving and productivity initiatives, and the daily commitment of our team members drove another quarter and full year of positive comparable restaurant sales, despite the strong prior-year comparable restaurant sales results,” commented Greg Trojan, Chief Executive Officer. “Our recently re-...