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Cracker Barrel Old Country Store, Inc. Message Board

  • bluecheese4u bluecheese4u Nov 19, 2012 2:14 PM Flag

    CRACKER BARREL REPORTS FOURTH QUARTER AND FULL YEAR FISCAL 2012 RESULTS AND PROVIDES GUIDANCE FOR FISCAL 2013

    CRACKER BARREL REPORTS FOURTH QUARTER AND FULL YEAR FISCAL 2012 RESULTS AND PROVIDES GUIDANCE FOR FISCAL 2013

    Comparable Store Traffic and Comparable Restaurant and Retail Sales Were Positive for Every Month in Quarter
    Board Increases Dividend; Renews and Increases Share Repurchase Authorization

    LEBANON, Tenn. – September 19, 2012 – Cracker Barrel Old Country Store, Inc. (“Cracker Barrel” or the
    “Company”) (Nasdaq: CBRL) today reported its financial results for the fourth quarter and for the fiscal year
    ending August 3, 2012. The Company also provided guidance for its 2013 fiscal year and first quarter:
    Fourth Quarter Fiscal 2012 Highlights
    • Compared to the prior year fourth quarter, comparable store traffic increased 1.4%; comparable store
    restaurant sales increased 3.8%; and comparable store retail sales increased 3.1%.
    • These trends remained positive throughout the quarter with July showing the largest gains for comparable
    traffic and restaurant sales.
    • On a GAAP basis, earnings per diluted share were $1.47, compared to $0.75 in the prior year quarter.
    Adjusted for the impact of the extra week in the current year and certain charges in the current and prior
    year, adjusted earnings per diluted share were $1.20, an 18.8% increase over adjusted earnings per diluted
    share of $1.01 in the prior year quarter. (See non-GAAP reconciliation below.)
    Full Year Fiscal 2012 Highlights
    • On a GAAP basis, earnings per diluted share were $4.40 compared to $3.61 in the prior year. Adjusted for
    the impact of the extra week in the current year and certain charges in the current and prior year, adjusted
    earnings per diluted share were $4.34, a 13.9% increase over adjusted earnings per diluted share of $3.81 in
    the prior year.
    • Operating income increased to 7.4% of total revenue compared with 6.9% in fiscal 2011.
    • The Company reduced debt by $25.1 million, repurchased $14.9 million of common stock, paid $22.4 million
    in dividends, and increased its cash balance by $99.7 million.
    Dividend Increase and Share Repurchase Authorization
    • Quarterly dividend increased to $0.50 per share, a 25% increase over the last quarterly dividend of $0.40
    and a 100% increase over the quarterly dividend declared in the first quarter of fiscal 2012 of $0.25.
    • Board authorized the Company to repurchase up to $100 million of its outstanding common stock. The
    Company may repurchase stock from time to time under this authorization depending on market conditions.

    filesDOTshareholderDOTcom/downloads/CBRL/2075477887x0x600611/049cdf4d-e419-4a0a-a69b-ff02b5a22a6e/2012_Q4_Earnings_Release.pdf

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