BJ's Restaurants, Inc. Holds Annual Meeting of Shareholders
June 08 2011 - 3:00PM
BJ's Restaurants, Inc. (Nasdaq:BJRI) held its annual meeting of
shareholders on Tuesday, June 7, 2011. Shareholders re-elected
Gerald W. Deitchle, Peter A. Bassi, Larry D. Bouts, James A. Dal
Pozzo, J. Roger King, William L. Hyde, Jr., John F. Grundhofer and
Lea Anne S. Ottinger to the Board of Directors to serve for
one-year terms until the next annual meeting. Shareholders also
approved the Company's 2011 Performance Incentive Plan and the
advisory resolution on the named executive officers'
compensation. Additionally, shareholders approved that future
advisory votes on executive compensation occur annually and also
ratified the selection of Ernst & Young LLP to serve as the
Company's independent registered public accounting firm for fiscal
2011. At the annual meeting, management also provided
shareholders with an overview of the Company's fiscal 2010
financial results and included an update on the Company's current
expansion plan and key initiatives in progress.
"We remain as excited as ever about the longer-term growth
opportunity for the BJ's restaurant concept and brand," commented
Jerry Deitchle, Chairman and CEO. "Today, our estimated share
of the domestic casual dining market is still less than
1%. Accordingly, we believe the vast majority of our growth
remains ahead of us. Therefore, we will continue executing our
expansion plan in a careful and controlled manner, while continuing
to evolve the BJ's concept by adding even more quality,
differentiation and value for the consumer."
BJ's Restaurants, Inc. currently owns and operates 106 casual
dining restaurants under the BJ's Restaurant & Brewery, BJ's
Restaurant & 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, appetizers, sandwiches, soups, pastas,
entrees and desserts. Quality, flavor, value, moderate prices and
sincere service remain distinct attributes of the BJ's experience.
The Company operates several microbreweries in addition to using
qualified contract brewers to produce and distribute BJ's
critically acclaimed proprietary handcrafted beers throughout the
chain. The Company's restaurants are located in California (53),
Texas (22), Arizona (6), Colorado (4), Oregon (2), Nevada (4),
Florida (6), Ohio (2), Oklahoma (2), Kentucky (1), Indiana (1),
Louisiana (1) and Washington (2). 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.
Such statements include, but are not limited to, those regarding
expected comparable restaurant sales growth in future periods,
those regarding the effect of new sales-building initiatives,
future guest traffic, as well as those regarding the number of
restaurants expected to be opened in future periods and the timing
and location of such openings. 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) the effect of
credit and equity market disruptions on our ability to finance our
continued expansion on acceptable terms, (ii) our ability to manage
an increasing number of new restaurant openings, (iii) construction
delays, (iv) labor shortages, (v) minimum wage increases, (vi) food
quality and health concerns, (vii) factors that impact California,
where 53 of our current 106 restaurants are located, (viii)
restaurant and brewery industry competition, (ix) impact of certain
brewery business considerations, including without limitation,
dependence upon suppliers, third party contractors and related
hazards, (x) consumer spending trends in general for casual dining
occasions, (xi) potential uninsured losses and liabilities, (xii)
fluctuating commodity costs and availability of food in general and
certain raw materials related to the brewing of our handcrafted
beers and energy, (xiii) trademark and service-mark risks, (xiv)
government regulations, (xv) licensing costs, (xvi) beer and liquor
regulations, (xvii) loss of key personnel, (xviii) inability to
secure acceptable sites, (xix) limitations on insurance coverage,
(xx) legal proceedings, (xxi) other general economic and regulatory
conditions and requirements, (xxii) the success of our key
sales-building and related operational initiatives and (xxiii)
numerous other matters discussed in the Company's filings with the
Securities and Exchange Commission, including its recent reports on
Forms 10-K, 10-Q and 8-K. The "forward-looking" statements
contained in this press release are based on current assumptions
and expectations and 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. at (714) 500-2400.
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