BJ's Restaurants, Inc. to Present at the 5th Annual Cowen and Company Consumer Conference and Also Provided a Revenue Update for
January 04 2007 - 4:02PM
Business Wire
BJ�s Restaurants, Inc. (NASDAQ:BJRI) will be presenting at the 5th
Annual Cowen and Company Consumer Conference in New York City on
Tuesday, January 9, 2007 at 10:30 am (Eastern). Jerry Deitchle,
President and CEO; Greg Levin, CFO and Greg Lynds, Chief
Development Officer will be presenting on behalf of the Company.
The presentation will be broadcast over the Internet at the
Company�s website located at http://www.bjsrestaurants.com. The
broadcast can be accessed by clicking on the �Investors� link from
the Company�s home page followed by the �Presentation� link. An
archive of the presentation will be available following the live
presentation for 30 days. The Company also provided a revenue
update for the fourth quarter of fiscal 2006 that ended on January
2, 2007. Revenues for the fourth quarter increased approximately
34% to approximately $65.9 million compared to $49.2 million in the
same quarter last year. Sales for comparable restaurants increased
approximately 5.5% during the quarter and successfully hurdled a
strong 5.3% increase in comparable restaurant sales for the same
quarter last year. Additionally, the revenue contribution from the
Company�s newer restaurants exceeded management�s expectations
during the fourth quarter. �Our strong fourth quarter sales results
continued the positive top-line momentum that BJ�s has enjoyed
during all of 2006,� commented Jerry Deitchle, President and CEO.
�Our comparable sales increase of approximately 5.5% for the fourth
quarter marks our 41st straight quarter of positive comparisons on
that metric. Additionally, during the fourth quarter, we set new
Company records for the highest sales ever in both a single day and
week at one of our comparable Southern California restaurants.
Also, we were very pleased with BJ�s gift card purchases by our
restaurant guests during the fourth quarter. Purchases of gift
cards increased approximately 8% in comparable restaurants during
the fourth quarter, and total Company gift card purchases increased
a very strong 60% compared to the same quarter last year. These
strong gift card purchases have the potential to begin benefiting
our top-line results in early 2007 when post-holiday card
redemptions start to occur.� The Company remains confident in its
ability to open as many as 13 new restaurants during 2007 and
thereby achieve its targeted growth rate of 20% to 25% in terms of
total restaurant operating weeks during the year. All prospective
locations for 2007 new restaurants have been identified and secured
with signed leases, purchase agreements or letters of intent. As of
this date, six restaurants are in various stages of actual
construction for potential 2007 openings. BJ�s Restaurants, Inc.
currently owns and operates 55 casual dining restaurants under the
BJ�s Restaurant and Brewery, BJ�s Restaurant and Brewhouse or BJ�s
Pizza & Grill brand names. BJ�s restaurants offer an innovative
and broad menu featuring award-winning, signature deep-dish pizza
complemented with generously portioned salads, sandwiches, soups,
pastas, entr�es and desserts. Quality, flavor, value, moderate
prices and sincere service remain distinct attributes of the BJ�s
experience. The Company operates 11 microbreweries which produce
and distribute BJ�s critically acclaimed handcrafted beers
throughout the chain. The Company�s restaurants are located in
California (35), Texas (8), Arizona (4), Colorado (3), Oregon (3)
and Nevada (2). The Company also has a licensing interest in a BJ�s
restaurant in Lahaina, Maui.�Visit BJ�s Restaurants, Inc. on the
web at http://www.bjsrestaurants.com. Certain statements in the
preceding paragraphs and all other statements that are not purely
historical constitute �forward-looking statements� for purposes of
the Securities Act of 1933 and the Securities and Exchange Act of
1934, as amended, and are intended to be covered by the safe
harbors created thereby. These forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause actual results to be materially different from those
projected or anticipated. Factors that might cause such differences
include, but are not limited to: (i) our ability to manage an
increasing number of new restaurant openings, (ii) construction
delays, (iii) labor shortages, (iv) minimum wage increases (v) food
quality and health concerns, (vi) factors that impact California,
where 35 of our current 55 restaurants are located, (vii)
restaurant and brewery industry competition, (viii) impact of
certain brewery business considerations, including without
limitation, dependence upon suppliers and related hazards, (ix)
consumer trends, (x) potential uninsured losses and liabilities,
(xi) fluctuating commodity costs including food and energy, (xii)
trademark and servicemark risks, (xiii) government regulations,
(xiv) licensing costs (xv) beer and liquor regulations, (xvi) loss
of key personnel, (xvii) inability to secure acceptable sites,
(xviii) limitations on insurance coverage, (xix) legal proceedings,
(xx) other general economic and regulatory conditions and
requirements, (xxi) and numerous other matters discussed in the
Company�s filings with the Securities and Exchange Commission. BJ�s
Restaurants, Inc. undertakes no obligation to update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise. For further information, please contact
Greg Levin of BJ�s Restaurants, Inc. (714) 848-3747 ext. 240.
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