|BJ’s Restaurants, Inc. Reports Fourth Quarter and Fiscal 2016 Results|
Fourth Quarter 2016 Highlights Compared to Fourth Quarter 2015
Results for the fourth quarter of fiscal 2016 include a pre-tax benefit of
Fiscal 2016 Highlights Compared to Fiscal 2015
“Despite a challenging industry-wide operating environment, we continued to increase our market share, as we outpaced the industry in terms of traffic and comparable sales for both the fourth quarter and fiscal 2016,” commented
“To address the currently soft operating environment, we are implementing several major sales building initiatives which have been tested over the past year,” continued
In the fourth quarter of fiscal 2016, BJ’s opened five new restaurants in
During the fourth quarter of 2016, the Company repurchased and retired approximately 1.3 million shares of its common stock for approximately
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(1) Percentages represent percent of total revenues.
Reconciliation of Selected GAAP Financial Measures to Non-GAAP Adjusted Financial Measures
These non-GAAP adjusted financial measures reflect an additional way of viewing aspects of the Company’s operations that, when viewed with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of the Company’s results of operations and the factors and trends affecting the Company’s business. However, these non-GAAP adjusted financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.
For fiscal year 2015, non-GAAP adjusted net income and non-GAAP adjusted diluted net income per share exclude a lease termination gain related to the closure of the Company’s
(1) The tax effect is based on the Company’s annual estimated effective tax rate of 27.0% for fiscal year 2015.
Restaurant Level Operating Margin
A calculation of restaurant level operating margin and a reconciliation of restaurant level operating margin to income from operations for the fourth quarter and fiscal year ended