FLANIGAN'S Reports Earnings

Rhea-AI Summary

Flanigan's Enterprises, Inc. (NYSE AMERICAN: BDL) reported financial results for the 14 and 53 weeks ending October 3, 2020. Total revenues decreased to $28.2 million in the 14 weeks compared to $29.1 million in the same period the previous year. For the full year, revenues fell to $113 million from $116.2 million in 2019. Net income attributable to Flanigan's was $423,000 for the quarter and $1.1 million for the year, down from $916,000 and $3.6 million, respectively. Earnings per share were $0.22 for the quarter and $0.60 for the year.

Positive

• Package store sales increased to $7.4 million from $4.3 million in the prior year quarter.
• Franchise-related revenues were $315,000, showing resilience in a challenging environment.

Negative

• Overall total revenues decreased from $29.1 million to $28.2 million year-over-year for the 14 weeks.
• Net income fell significantly from $916,000 to $423,000 for the quarter, indicating profitability challenges.
• Earnings per share dropped to $0.22 from $0.49 for the quarter and to $0.60 from $1.96 for the year.

News Market Reaction – BDL

+3.92%

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+3.92% News Effect

On the day this news was published, BDL gained 3.92%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

FORT LAUDERDALE, Fla., Jan. 19, 2021 /PRNewswire/ -- FLANIGAN'S ENTERPRISES, INC., (NYSE AMERICAN: BDL) owners and operators of the "Flanigan's Seafood Bar and Grill" restaurants and "Big Daddy's" retail liquor stores, announced results for the 14 weeks and the 53 weeks ended  October 3, 2020.  The table below sets forth the results on a comparative basis with the 13 weeks and 52 weeks ended September 28, 2019.

	For the 14 weeks		For the 13 weeks
	ended Oct. 3,		ended Sept. 28,
	2020		2019
REVENUES
RESTAURANT FOOD AND
BAR SALES	$ 20,347,000		$ 24,076,000
PACKAGE STORE SALES	7,443,000		4,348,000
FRANCHISE RELATED REVENUES	315,000		400,000
RENTAL INCOME	126,000		186,000
OTHER OPERATING INCOME	14,000		50,000
TOTAL REVENUES	$ 28,245,000		$ 29,060,000
NET INCOME ATTRIBUTABLE
TO FLANIGAN'S ENTERPRISES, INC	$     423,000		$       916,000
NET INCOME PER COMMON SHARE
BASIC AND DILUTED	$             .22		$               .49
	For the 53 weeks		For the 52 weeks
	ended Oct. 3,		ended Sept. 28,
	2020		2019
RESTAURANT FOOD AND
BAR SALES	$     84,652,000		$   94,290,000
PACKAGE STORE SALES	26,276,000		19,327,000
FRANCHISE RELATED REVENUES	1,260,000		1,610,000
RENTAL INCOME	680,000		762,000
OTHER OPERATING INCOME	109,000		213,000
TOTAL REVENUES	$  112,977,000		$ 116,202,000
NET INCOME ATTRIBUTABLE
TO FLANIGAN'S ENTERPRISES, INC.	$     1,110,000		$   3,648,000
NET INCOME PER COMMON SHARE
BASIC AND DILUTED	$              0.60		$          1.96

                                                   

View original content:http://www.prnewswire.com/news-releases/flanigans-reports-earnings-301210971.html

SOURCE FLANIGAN'S ENTERPRISES, INC.

FAQ

What were Flanigan's Enterprises earnings for the fourth quarter of 2020?

Flanigan's Enterprises reported net income of $423,000 for the fourth quarter ending October 3, 2020.

How did Flanigan's total revenues perform in 2020 compared to 2019?

Total revenues for Flanigan's decreased from $116.2 million in 2019 to $113 million in 2020.

What is the stock performance impact for BDL after the earnings report?

The drop in revenues and net income could negatively impact investor sentiment and stock performance for BDL.

What is the year-over-year change in Flanigan's earnings per share?

Earnings per share decreased from $1.96 in 2019 to $0.60 in 2020.