You love its hamburgers. You love its restaurants. And you really love those silly commercials. Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) is doing big things as it continues to attract customers to its family-friendly restaurants from one side of the country to the next.
Late last week, the company reported its financial results for the 12 and 52 weeks ending on December 29, 2013. This earnings report gives investors, as well as those who simply love Red Robin burgers, a better idea of where the company stands.
While there are many points worth discussing, some financial highlights stand out in the crowd. For example, annual revenues exceeded $1 billion with fiscal year 2013 sales growing four percent when compared to the same period of the prior year.
Another detail worth paying attention to was an increase in restaurant level operating profit margin from 20.6 percent to 21.7 percent. And of course, we don’t want to overlook the adjusted earnings per diluted share that reached $0.62 in the fourth quarter.
Bringing all this together is net income of $32.2 million for the period that ended December 29, 2013. This is greater than the $28.3 million for the 53 week period that ended on December 30, 2012.
Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) is Red Hot
Despite the fact that cold weather has been keeping many people inside this winter, Red Robin continues to burn red hot. The company’s CEO, Steve Carley, recently sat down for a CNBC video and explained his thoughts:
“Certainly the weather has had some impact, but we are happy to say that typically people stay cooped up for a day or two and then we get a cabin fever rebound and they come back into the restaurants because they are tired of staying at home.”
When asked about rising prices, Carley had all the right answers. “It was all about consumers making choices. We’ve got a $3, $5, $7, and $9 appetizer menu and a wide range of value. We have Reds Tavern double starting at $6.99 with bottomless fries. We have our signature gourmet burgers around 10 bucks and then our finest burger at $13.49.”
As you watch the interview below, you will see that the CEO of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) is excited about where the company stands right now and what the future holds. Do you feel the same way?