Print Page  Close Window


BJS RESTAURANTS INC filed this Form 10-K on 02/28/2012
Entire Document

Table of Contents

The market price of our common stock could be subject to significant fluctuations.

Among the factors that could affect our stock price are:



actual or anticipated fluctuations in comparable restaurant sales or operating results, whether in our operations or in those of our competitors;


changes in financial estimates or opinions by research analysts, either with respect to us or other casual dining companies;


any failure to meet investor or analyst expectations, particularly with respect to total restaurant operating weeks, number of restaurant openings, comparable restaurant sales, average weekly sales per restaurant, total revenues, operating margins and net income per share;


actual or anticipated changes in economic, political or market conditions, such as recessions or international currency fluctuations;


changes in the consumer spending environment;


terrorist acts;


changes in laws or regulations, or new interpretations or applications of laws and regulations, that are applicable to our business;


changes in accounting standards, policies, guidance, interpretations or principles;


short sales, hedging and other derivative transactions in the shares of our common stock;


future sales or issuances of our common stock, including sales or issuances by us, our directors or executive officers and our significant stockholders;


our dividend policy;


changes in the market valuations of other restaurant companies;


announcements by us or our competitors of new locations, menu items, technological advances, significant acquisitions, strategic partnerships, divestitures, joint ventures or other strategic initiatives;


a loss of a key member of management; and,


changes in the costs or availabilities of key inputs to our operations.

In addition, we cannot assure you that an active trading market for our common stock will continue which could affect our stock price and the liquidity of any investment in our common stock.

The stock markets in general have experienced substantial volatility that has often been unrelated to the operating performance of individual companies. These broad market fluctuations may adversely affect the trading price of our common stock. In addition, our stock price can be influenced by trading activity in our common stock or trading activity in derivative instruments with respect to our common stock as a result of market commentary (including commentary that may be unreliable or incomplete in some cases); changes in expectations about our business, our creditworthiness or investor confidence generally; actions by shareholders and others seeking to influence our business strategies; portfolio transactions in our stock by significant shareholders; or trading activity that results from the ordinary course rebalancing of stock indices in which our Company’s stock may be included.

In the past, following periods of volatility in the market price of a company’s securities, shareholders have often instituted class action securities litigation against those companies. Such litigation, if instituted, could result in substantial costs and a diversion of management attention and resources, which would significantly harm our profitability and reputation.

Because we do not anticipate paying any dividends for the foreseeable future, you may not receive any return on your investment unless you sell your common stock for a price greater than that which you paid for it.

We do not anticipate paying any dividends to our shareholders for the foreseeable future. Accordingly, you may have to sell some or all of your common stock in order to generate cash flow from your investment. You may not receive a gain on your investment when you sell our common stock and may lose some or the entire amount of your investment. Any determination to pay dividends in the future will be at the discretion of our board of directors and will depend upon our financial condition, operating results, contractual restrictions, restrictions imposed by applicable law and other factors our board of directors deems relevant.