Wingstop Inc. Reports Fiscal Fourth Quarter and Full Year 2019 Financial Results

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[{"type":"text","content":"DALLAS, Feb. 19, 2020 (GLOBE NEWSWIRE) -- Wingstop Inc. (NASDAQ: WING) today announced financial results for the fiscal fourth quarter and fiscal year ended December 28, 2019.\n Highlights for the fiscal fourth quarter 2019 compared to the fiscal fourth quarter 2018: System-wide sales increased 21.2% to $397.2 million45 net openings in the fiscal fourth quarter 2019Domestic same store sales increased 12.2%Digital sales increased to 39.0% in December 2019Total revenue increased to $53.2 millionNet income increased to $3.0 million, or $0.10 per diluted share, for the thirteen weeks ended December 28, 2019, compared to $2.4 million, or $0.08 per diluted share, in the prior fiscal fourth quarter. Adjusted net income* and adjusted diluted earnings per share*, both non-GAAP measures, were comparable to the prior year fourth quarterAdjusted EBITDA*, a non-GAAP measure, increased 13.2% to $14.2 million Highlights for the fiscal year 2019 compared to the fiscal year 2018 (on a 52-week basis): System-wide restaurant count increased 10.6% to 1,385 worldwide locations with 133 net openingsSystem-wide sales increased 20.1% to $1.5 billionDomestic same store sales increased 11.1%, marking the 16th consecutive year of same store sales growthTotal revenue increased to $199.7 millionNet income of $20.5 million, or $0.69 per diluted share, compared to $21.7 million, or $0.73 per diluted share, in the prior fiscal year. Adjusted net income* and adjusted diluted earnings per share*, both non-GAAP measures, were $21.7 million, or $0.73 per diluted share, compared to $24.7 million, or $0.84 per diluted share, in the prior fiscal yearAdjusted EBITDA*, a non-GAAP measure, increased 16.3% to $57.0 million * Adjusted EBITDA, adjusted net income, and adjusted diluted earnings per share are non-GAAP measures. Reconciliations of adjusted EBITDA, adjusted net income, and adjusted earnings per diluted share to the most directly comparable financial measures presented in accordance with GAAP are set forth in the schedules accompanying this release. See “Non-GAAP Financial Measures.” “2019 was a year of strong execution for Wingstop as we closed out our 16th consecutive year of positive same store sales growth, grew overall restaurant count by 10.6% and system-wide sales by 20.1%, which translated to adjusted EBITDA growth of 16.3%,” commented Charlie Morrison,...

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