|BJ's Restaurants, Inc. Reports Preliminary Fourth Quarter 2014 Revenue Results|
Will Report Full 2014 Fourth Quarter Results on
Management to Present at Jefferies 4th Annual Winter Consumer Summit on
"We are pleased with our solid top-line finish to fiscal 2014," commented
Trojan added, "The steady progress we made in 2014 in reigniting comparable restaurant sales and managing our business provides us with a solid platform to begin fiscal 2015. We remain focused on restoring our restaurant-level cash flow margins to at least 19% on a sustainable basis and using our strong operating cash flow and balance sheet to execute our long-term growth strategy of increasing new restaurant capacity by at least 10% annually. In 2014 we opened 11 new restaurants and our 2015 restaurant development pipeline is in excellent shape as we expect to open at least 15 new restaurants this year. With just 156 restaurants open as of today, and with estimated capacity for at least 425 U.S.
Investors are reminded that the actual number and timing of new restaurant openings is subject to a number of factors outside of the Company's control, including weather conditions and factors under the control of landlords, contractors and regulatory/licensing authorities.
2014 Fourth Quarter Earnings and Conference Call
The Company plans to release its fourth quarter and full-year 2014 results after the market closes on
Management Presentation at Jefferies 4th Annual Winter Consumer Summit
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 and margin growth in future periods, total potential domestic capacity, the success of various sales-building and productivity initiatives, future guest traffic trends and the number and timing of new restaurants expected to be opened in future periods. 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) increase in minimum wage and other employment related costs, including the potential impact of the Patient Protection and Affordable Care Act on our operations, (v) the effect of credit and equity market disruptions on our ability to finance our continued expansion on acceptable terms, (vi) food quality and health concerns, (vii) factors that impact
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