Buffalo Wild Wings, Inc. Announces Preliminary Second Quarter Results; Earnings Per Diluted Share Expected to Range from $0.20 t
July 12 2005 - 4:01PM
Business Wire
Buffalo Wild Wings, Inc. (Nasdaq: BWLD), today announced
preliminary financial results for the second quarter ended June 26,
2005. The Company expects to report revenue of approximately $48.2
million, an increase of 22% over the $39.6 million generated in the
second quarter of 2004. Same store sales for the second quarter
were approximately 2.7% at company-owned restaurants and
approximately 1.8% at franchised locations. Management believes
that earnings per diluted share will range from $0.20 to $0.22 for
the second quarter of 2005 compared to previous guidance of $0.15
to $0.17. The increase in the updated quarterly guidance is mainly
due to lower than expected cost of sales and general and
administrative expenses. Contributing to these lower costs and
expenses were a decline in average wing prices for the quarter from
the expected $1.16 per pound to $1.14 per pound and a decline in
stock-based compensation expense from the expected $475,000 to
approximately $330,000 based on the quarter end stock price.
Management also announced today that it will conduct a conference
call to discuss its second quarter results on Tuesday, July 26,
2005 at 5:00 p.m. Eastern Daylight Time. A simultaneous webcast of
the call will be available by visiting the investor relations
section of the Company's website at www.buffalowildwings.com. About
the Company Buffalo Wild Wings, Inc., founded in 1982 and
headquartered in Minneapolis, Minnesota, is an established and
growing owner, operator and franchisor of Buffalo Wild Wings Grill
& Bar restaurants featuring a variety of boldly flavored,
made-to-order menu items including Buffalo, New York-style chicken
wings spun in one of 12 signature sauces. The widespread appeal of
Buffalo Wild Wings establishes it as an inviting, neighborhood
destination with 335 restaurants in 34 states. Forward-looking
Statements Certain statements in this release that are not
historical facts, including, without limitation, those relating to
the Company's anticipated financial performance for the second
quarter of 2005, are forward-looking statements that involve risks
and uncertainties. Such statements are based upon the current
beliefs and expectations of management. Actual results may vary
materially from those contained in forward-looking statements based
on a number of factors including, without limitation, the
completion of the second quarter financial statements and other
factors disclosed from time to time in filings with the U.S.
Securities and Exchange Commission. Investors should take such
risks into account when making investment decisions. Shareholders
and other readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
on which they are made. The Company undertakes no obligation to
update any forward-looking statements.
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