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fiesta restaurant group (FRGI) Key Developments

Fiesta Restaurant Group, Inc. Promotes Ryan Nowlin to Vice President, Information Technology

Fiesta Restaurant Group, Inc. has promoted Ryan Nowlin to vice president, information technology. Nowlin, who joined Fiesta as director of IT systems in 2012 and was named senior director of IT in 2014, is responsible for the company's entire IT structure. Prior to Fiesta, Nowlin served as vice president - IT and business process for Corner Bakery Cafe.

Fiesta Restaurant Group, Inc. Announces Executive Promotions

Fiesta Restaurant Group, Inc. announced the promotions of several of its top executives. Chief Financial Officer Lynn Schweinfurth is promoted to senior vice president after serving as CFO and vice president for the company since July 2012. Chief Financial Officer Lynn Schweinfurth is promoted to senior vice president after serving as CFO and vice president for the company since July 2012. During her tenure at Fiesta, she has helped implement new corporate systems, infrastructure and staffing at the company's new headquarters in Addison, Texas, 18 months ahead of schedule after the spin-out from Carrols Restaurant Group. Fiesta also elevated Chief Counsel Joseph Zirkman to senior vice president. He has served as vice president, general counsel and secretary since 2011. Chief Development Officer John Todd, who joined the company in 2012, adds a group vice president designation to his title. Todd is responsible for all facets of company's real estate and development, including site selection, design and construction of new restaurants and the upgrading and re-imaging of existing facilities.

Fiesta Restaurant Group, Inc. Presents at 2014 San Francisco Retail & Restaurants Round-Up, Dec-02-2014

Fiesta Restaurant Group, Inc. Presents at 2014 San Francisco Retail & Restaurants Round-Up, Dec-02-2014 . Venue: Wells Fargo Securities SF, San Francisco, California, United States.

Fiesta Restaurant Group, Inc. Presents at 17th Annual ICR XChange 2015, Jan-12-2015 03:30 PM

Fiesta Restaurant Group, Inc. Presents at 17th Annual ICR XChange 2015, Jan-12-2015 03:30 PM. Venue: JW Marriott Orlando Grande Lakes, Orlando, Florida, United States. Speakers: Lynn S. Schweinfurth, Chief Financial Officer, Vice President and Treasurer, Timothy P. Taft, Chief Executive Officer, President and Director.

Fiesta Restaurant Group, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 28, 2014; Provides Earnings Guidance for the Full Year of 2014 and Full Year of 2015; to Open 26 to 30 New Company Owned Restaurants in 2015; Plans Up to Four Company Owned Stores Closures in 2015; Reports Impairment Charge in the Third Quarter of 2014

Fiesta Restaurant Group, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 28, 2014. For the quarter, the company reported total revenues of $155,298,000 compared with $140,678,000 for the same period a year ago. Income from operations was $15,373,000 compared with $12,095,000 for the same period a year ago. Income before income taxes was $14,837,000 compared with $7,638,000 for the same period a year ago. Net income was $9,155,000 or $0.34 per basic and diluted share compared with $5,042,000 or $0.21 per basic and diluted share for the same period a year ago. Adjusted EBITDA was $21,874,000 compared with $17,513,000 for the same period a year ago. EBITDA was $32,252,000 compared with $27,932,000 for the same period a year ago. For the nine months, the company reported total revenues of $454,919,000 compared with $415,182,000 for the same period a year ago. Income from operations was $45,771,000 compared with $36,541,000 for the same period a year ago. Income before income taxes was $44,064,000 compared with $22,066,000 for the same period a year ago. Net income was $27,188,000 or $1.02 per basic and diluted share compared with $14,810,000 or $0.63 per basic and diluted share for the same period a year ago. Adjusted EBITDA was $65,006,000 compared with $53,022,000 for the same period a year ago. EBITDA was $96,616,000 compared with $85,493,000 for the same period a year ago. The company expects an estimated annual effective income tax rate for 2014 of 38.3%. The company expects capital expenditures to be between $70 million and $75 million in total in 2014. For the full year 2014, the company expects to exceed the high-end of comp sales growth range established earlier in the year of 5% at Pollo. With respect to Taco, the company continues to expect comp sales growth between 1.5% and 3.5% as previously communicated. For the full year 2015, the company expects mid-single digit comparable restaurant sales growth at Pollo Tropical; low-single digit comparable restaurant sales growth at Taco Cabana; an effective tax rate of approximately 38% to 40% assuming the Work Opportunity Tax Credit is not renewed for 2015 or, if the tax credit is renewed for 2015, the company expects an improvement to its effective tax rate of approximately 150 basis points. Total capital expenditures in 2015 are projected in the range of $78 million to $88 million. This consist of one, new restaurant development capital expenditures of $58 million to $65 million. Two, capital expenditures to complete the Taco remodeling program to implement a new Pollo remodeling program and capital maintenance at both brands of $14 million to $15 million; and three, capital expenditures for IT and other projects of $6 million to $8 million. The company announced that it is planning 26 to 30 new company-owned restaurant openings including 24 to 26 Pollo Tropical and two to four Taco Cabana restaurants in the full year 2015. The company also announced that it is planning up to four company-owned restaurant closings, one Pollo Tropical relocation and three potential Taco Cabana restaurant closings in full year 2015. The company reported that it incurred an impairment charge of $0.2 million this quarter related to a decision to opportunistically relocate an existing restaurant to a superior location in the same trade area prior to lease expiration.

 

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