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BJ's Restaurants, Inc. Reports Financial Results for the First Quarter of Fiscal 2013

BJ's Restaurants, Inc. Reports Financial Results for the First Quarter of
Fiscal 2013

HUNTINGTON BEACH, Calif., April 25, 2013 (GLOBE NEWSWIRE) -- BJ's Restaurants,
Inc. (Nasdaq:BJRI) today reported financial results for its first quarter of
fiscal 2013that ended on Tuesday,April 2, 2013.

Highlights for the first quarter of fiscal 2013 were as follows:

  oTotal revenues increased approximately 13% to $188.6 million
  oTotal restaurant operating weeks increased 13%
  oOne new restaurant opened
  oComparable restaurant sales increased 0.4%
  oNet income and diluted net income per share were $8.3 million and $0.29,
    respectively

"I could not be more proud of all of our team members for their dedication to
making BJ's a great dining experience for our guests," commented Greg Trojan,
President and Chief Executive Officer."Despite the extremely challenging top
line sales environment for casual dining, we recorded our 13^th consecutive
quarter of positive comparable restaurant sales.Furthermore, our restaurant
operators did an excellent job of managing the choppy sales environment in a
productive and efficient manner during the quarter, resulting in some of our
best productivity metrics in quite some time.In this difficult operating
environment, where consumer spending for casual dining occasions remains under
pressure, we believe the more successful restaurant concepts will be those
that protect their overall approachability, quality, differentiation and value
for the consumer. This has always been the foundation of the BJ's concept and
will continue to be our focus going forward."

During the first quarter of fiscal 2013, the Company successfully opened one
new restaurant in Puyallup, Washington.The Company currently plans to open
as many as four new restaurants during the second quarter, including one
restaurant which has already opened in Oklahoma City, Oklahoma, on April 22,
2013, as well as a planned relocation of an existing small-format restaurant
in Eugene, Oregon.The Company anticipates opening as many as 12 new
restaurants during the last two quarters of fiscal 2013, thereby achieving its
stated goal to open as many as 17 new restaurants this year."Our 2013
development pipeline is in excellent shape and we are now focusing on building
a solid pipeline for our 2014 and 2015 restaurant openings," said
Trojan.Investors are reminded that the actual number and timing of new
restaurant openings are 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.

"With only 132 restaurants open to date in 15 states, there is a long runway
of expansion ahead," commented Trojan."We continue to believe there is room
for at least 425 BJ's restaurants domestically, and that we are one of a few
publicly held casual dining restaurant companies with this type of growth
opportunity.Therefore, we will continue executing our national expansion
strategy in a careful and controlled manner that will allow us to drive
predictability and leverage in our business.At the same time, we will
continue investing in our team members, our food and bar offerings, and our
restaurant facilities and ambience to deliver a higher quality, more
differentiated dining experience for our guests."

Investor Conference Call and Webcast

BJ's Restaurants, Inc. will conduct a conference call on its first quarter of
fiscal 2013 earnings release today, April 25, 2013, at 2:00 p.m. (Pacific
Time). The Company will provide an Internet simulcast, as well as a replay of
the conference call. To listen to the conference call, please visit the
"Investors" page of the Company's website located at
http://www.bjsrestaurants.com several minutes prior to the start of the call
to register and download any necessary audio software.An archive of the
presentation will be available for 30 days following the call.

BJ's Restaurants, Inc. currently owns and operates 132 casual dining
restaurants under the BJ's Restaurant & Brewery®, BJ's Restaurant &
Brewhouse®, BJ's Pizza & Grill® and BJ's Grill® brand names. BJ's Restaurants
offers an innovative and broad menu featuring award-winning, signature
deep-dish pizza complemented with generously portioned salads, appetizers,
sandwiches, soups, pastas, entrees and desserts, including the Pizookie®
dessert. Quality, flavor, value, moderate prices and sincere service remain
distinct attributes of the BJ's experience. BJ's operates company-owned
microbreweries in addition to using qualified contract brewers to produce and
distribute BJ's critically acclaimed proprietary craft beers throughout the
chain. The Company's restaurants are located in California (61), Texas (28),
Florida (11), Arizona (6), Nevada (5), Colorado (4), Ohio (3), Oregon (3),
Oklahoma (3), Washington (3), Indiana (1), Kansas (1), Kentucky (1), Louisiana
(1) and New Mexico (1).Visit BJ's Restaurants, Inc. on the Web at
http://www.bjsrestaurants.com.

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 California, where
61 of our current 132 restaurants are located, (viii) restaurant and brewery
industry competition, (ix) impact of certain brewery business considerations,
including without limitation, dependence upon suppliers, third party
contractors and related hazards, (x) consumer spending trends in general for
casual dining occasions, (xi) potential uninsured losses and liabilities due
to limitations on insurance coverage, (xii) fluctuating commodity costs and
availability of food in general and certain raw materials related to the
brewing of our handcrafted beers and energy, (xiii) trademark and service-mark
risks, (xiv) government regulations and licensing costs, (xv) beer and liquor
regulations, (xvi) loss of key personnel, (xvii) inability to secure
acceptable sites, (xviii) legal proceedings, (xix) other general economic and
regulatory conditions and requirements, (xx) the success of our key
sales-building and related operational initiatives, and (xxi) numerous other
matters discussed in the Company's filings with the Securities and Exchange
Commission, including its recent reports on Forms 10-K, 10-Q and 8-K. The
"forward-looking" statements contained in this press release are based on
current assumptions and expectations and BJ's Restaurants, Inc. undertakes no
obligation to update or alter its "forward-looking" statements whether as a
result of new information, future events or otherwise.

                                      

BJ's Restaurants, Inc.
Unaudited Consolidated Statements of Income
(Dollars in thousands except for per share data)
                                                                      
                                              Thirteen Weeks Ended
                                              April 2, 2013   April 3, 2012
Revenues                                       $188,625 100.0% $167,604 100.0%
Costs and expenses:                                                  
Cost of sales                                 46,294   24.5  41,191   24.6
Labor and benefits                            65,933   35.0  58,516   34.9
Occupancy and operating                       40,576   21.5  34,762   20.7
General and administrative                    12,709   6.7   10,713   6.4
Depreciation and amortization                 11,469   6.1   9,526    5.7
Restaurant opening                            712      0.4   1,079    0.6
Loss on disposal of assets                    100     0.1   54       
Total costs and expenses                       177,793  94.3  155,841  93.0
Income from operations                         10,832   5.7   11,763   7.0
                                                                    
Other income (expense):                                              
Interest income                               57             69       
Interest expense                              (10)          (24)     
Other income, net                             324      0.2   333      0.2
Total other income                             371      0.2   378      0.2
Income before income taxes                    11,203   5.9   12,141   7.2
                                                                    
Income tax expense                             2,930    1.6   3,526    2.1
                                                                    
Net income                                     $8,273   4.4%  $8,615   5.1%
                                                                    
Net income per share:                                                
Basic                                         $0.29          $0.31    
                                                                    
Diluted                                       $0.29          $0.30    
                                                                    
Weighted average number of shares outstanding:                       
Basic                                         28,139         27,908   
                                                                    
Diluted                                       28,838         29,010   

        Percentages reflected above may not reconcile due to rounding.

BJ's Restaurants, Inc.
Selected Consolidated Balance Sheet Information
(Dollars in thousands)

                                                        April 2,    January 1,
                                                       2013        2013
                                                        (unaudited) (audited)
Cash, cash equivalents and short-term marketable        $40,446    $33,390
securities
Long-term marketable securities                         $7,734     $7,534
Total assets                                            $576,082  $566,876
Total long-term debt, including current portion         $--       $--
Shareholders' equity                                    $381,593  $371,834

                                      

                                      

  BJ's Restaurants, Inc.
  Unaudited Supplemental Information
  (Dollars in thousands)
                                      
                                      Thirteen Weeks Ended
                                      April 2, 2013 April 3, 2012
  Stock-based compensation (1)                             
  Labor and benefits                   $328  0.2%  $303   0.2%
  General and administrative           839    0.4  772     0.5
  Total stock-based compensation       $1,167 0.6% $1,075  0.7%
                                                          
  Operating Data                                           
  Comparable restaurant sales % change 0.4%        3.3%     
  Restaurants opened during period     1           2       
  Restaurants open at period-end       131         117     
  Restaurant operating weeks           1,690       1,500   
                                                          

(1) Percentages represent percent of total revenues.

CONTACT: Greg Levin of BJ's Restaurants, Inc.
         (714) 500-2400

BJ's Restaurants, Inc.