BJ’s Restaurants, Inc. Reports Fiscal Fourth Quarter and Fiscal 2020 Results

About this update from Bj's Restaurants, Inc.

[{"type":"text","content":"HUNTINGTON BEACH, Calif., Feb. 11, 2021 (GLOBE NEWSWIRE) -- BJ’s Restaurants, Inc. (NASDAQ: BJRI) today reported financial results for its 2020 fourth quarter and fiscal year that ended Tuesday, December 29, 2020. The actual 2020 fourth quarter results are in line with the preliminary 2020 fourth quarter results the Company announced on January 21, 2021. Fourth Quarter 2020 Compared to Fourth Quarter 2019 Total revenues decreased 32.3% to $197.0 millionTotal restaurant operating weeks increased 0.6%Comparable restaurant sales declined 32.3%Net loss of $18.1 million compared to net income of $14.5 million Fourth quarter 2020 net loss includes a $1.3 million pretax gain related to a sale-leaseback transaction and a $1.7 million pretax impairment charge for one restaurant. Diluted net loss per share of $0.81 compared to diluted net income per share of $0.75 Fourth quarter 2020 net loss per share includes a $0.05 gain related to a sale-leaseback transaction and a $0.06 impairment charge for one restaurant. Adjusted EBITDA of $2.4 million Fiscal 2020 Compared to Fiscal 2019 Total revenues decreased 33.0% to $778.5 millionTotal restaurant operating weeks increased 1.5%Comparable restaurant sales declined 34.0%Net loss of $57.9 million compared to net income of $45.2 million Fiscal year 2020 net loss includes a $3.3 million pretax gain related to a sale-leaseback transaction, a $2.3 million pretax gain related to settlements pertaining to credit card interchange fees and handheld tablet maintenance, and a $13.7 million pretax impairment charge for five restaurants. Diluted net loss per share of $2.74 compared to diluted net income per share of $2.20 Fiscal year 2020 net loss per share includes an $0.11 gain related to a sale-leaseback transaction, an $0.08 gain related to the settlements described above, and a $0.49 impairment charge for five restaurants. Adjusted EBITDA of $10.3 million “Throughout the fourth quarter, our team members continued to demonstrate an entrepreneurial spirit and unwavering commitment to serving our guests at the highest levels, which enabled us to deliver quarterly results that exceeded our expectations, despite increased dining room capacity restrictions and the closure of dining rooms and patios in our 62 California restaurants in December,” commented Greg Trojan, Chief Executive Officer. “To date, trends ...

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