Fiesta Restaurant Group, Inc. Reports Second Quarter 2013 Results
4:00p ET August 8, 2013 (Business Wire)
Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ: FRGI), the owner, operator, and franchisor of the Pollo Tropical(R) and Taco Cabana(R) fast-casual restaurant brands, today reported results for the second quarter of 2013 which ended on June 30, 2013. Fiesta also announced that it anticipates it will exceed the high-end of its previously announced 2013 restaurant development expectations, driven by new Pollo Tropical restaurant openings.
Highlights of Second Quarter 2013 Results Include:
-- Total revenues increased 9.4% to $140.9 million, compared to $128.8 million in the prior year period;
-- Comparable restaurant sales increased 6.4% at Pollo Tropical and 1.1% at Taco Cabana;
-- Comparable restaurant guest traffic increased 2.8% at Pollo Tropical and decreased 0.5% at Taco Cabana;
-- Four company-owned Pollo Tropical and three company-owned Taco Cabana restaurants were opened; and
-- Net income increased $1.0 million to $5.0 million in the second quarter of 2013, or $0.21 per diluted share, compared to net income of $3.9 million, or $0.17 per diluted share, in the second quarter of 2012.