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Famous Dave's of America Inc. Message Board

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  • multistratequity multistratequity Mar 2, 2011 6:16 PM Flag

    Famous Dave's, swan song...

    Agreed, bad earnings on the higher revenue number. Hopefully they can elegantly explain that away. The share buyback program should protect the pps action in the near term until the dust settles.

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    • The 3.3% uptick in same store sales is bullish for '11. Really the major issue they have is the revenue flow through to earnings. Seems like they need to be more aggressive with costs.

      • 1 Reply to multistratequity
      • I'm not really concerned DAVE made $0.06/sh compared to $0.07/sh estimates and $0.08/sh last year. Q4 2009 got an extra $0.05/sh eps because that quarter included an extra week ("the 14th week"), so revenues were for 14 weeks while some expenses like occupancy and salaries only were the same as in a regular quarter. They said this contributed an extra $0.05/sh for Q4 2009 in the conference call on March 4, 2010, and said it again in the conference call on March 3, 2011. Without this extra week in Q4 2009, eps went from $0.03/sh to $0.06/sh. They still missed analyst estimates, but what do analysts know?

        I just wish management had stated this in the press release and explained it better in the conference call.

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