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March 29, 2015 8:50 PM ET

Hotels, Restaurants and Leisure

Company Overview of Diversified Restaurant Holdings, Inc.

Company Overview

Diversified Restaurant Holdings, Inc. operates as a restaurant company in the United States. It creates, develops, owns, and operates Bagger Dave’s Burger Tavern, a full-service restaurant and full bar that primarily provides burgers, fries, beers, milk shakes, salads, black bean turkey chili, sandwiches, ice cream and milkshakes, and other items. The company also operates Buffalo Wild Wings Grill & Bar franchised restaurants, which primarily offer chicken items, Wild Flatbreads, popcorn shrimps, hamburgers and sandwiches, wraps, Buffalito soft tacos, appetizers, and salads, as well as beer, wine, and liquor. As of March 10, 2015, it operated 26 company-owned Bagger Dave's restaurants in Mic...

27680 Franklin Road

Southfield, MI 48034

United States

Founded in 1999

Key Executives for Diversified Restaurant Holdings, Inc.

Chairman, Chief Executive Officer and President
Age: 43
Total Annual Compensation: $310.4K
Chief Financial Officer, Principal Accounting Officer, Treasurer and Director
Age: 42
Total Annual Compensation: $258.9K
Chief Operating Officer and Secretary
Age: 33
Total Annual Compensation: $239.5K
Vice President of Purchasing
Total Annual Compensation: $131.9K
Compensation as of Fiscal Year 2013.

Diversified Restaurant Holdings, Inc. Key Developments

Diversified Restaurant Holdings, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 28, 2014; Provides Earnings Guidance for Full Year of 2015; Expects to Open Eight to Nine New Restaurants in 2015

Diversified Restaurant Holdings, Inc. reported consolidated earnings results for the fourth quarter and full year ended December 28, 2014. For the quarter, the company's revenue was $35,148,721 compared to $28,475,965 a year ago. Operating loss was $1,897,168 compared to $206,444 a year ago. Loss before income taxes was $2,880,455 compared to $491,175 a year ago. Net loss attributable to the company was $1,353,749 or $0.05 per basic and fully diluted share compared to $177,539 or $0.01 per basic and fully diluted share a year ago. EBITDA was $2,117,470 against $2,242,614 a year ago. Adjusted EBITDA was $3,655,253 compared to $3,436,714 a year ago. Consolidated comparable-store sales increased 5.8% compared to a 1.1% increase in the prior year period, representing 16 consecutive quarters of comparable-store sales growth. The growth in revenue was driven by a 5.8% increase in consolidated comparable-store sales, three acquired Florida Buffalo Wild Wings restaurants, and the addition of nine new restaurants over the past year, comprised of six Bagger Dave's and three Buffalo Wild Wings locations. For the year, the company's revenue was $128,413,448 compared to $108,886,139 a year ago.  The increase was attributable to a 3.5% increase in comparable-store sales, the acquisition of three BWW restaurants, and the opening of nine DRH-owned restaurants, which included six Bagger Dave's and three BWW restaurants.  Operating loss was $642,280 compared to profit of $1,440,277 a year ago. Loss before income taxes was $2,975,233 compared to $127,142 a year ago. Net loss attributable to the company was $1,268,497 or $0.05 per basic and fully diluted share compared to net income of $134,308 $0.01 per basic and fully diluted share a year ago. Net cash provided by operating activities was $11,295,253 compared to $7,180,971 a year ago. Purchases of property and equipment were $38,988,376 compared to $25,345,370 a year ago. EBITDA was $11,337,815 compared to $9,512,920 a year ago. Adjusted EBITDA was $15,065,720 compared to $13,014,042 a year ago. Consolidated comparable-store sales increased 3.5%. For the full year of 2015, the company expects revenue of $148.0 million to $153.0 million, capital expenditures ranging from $35.0 million to $40.0 million, and adjusted EBITDA of $16.0 million to $17.0 million. For 2015, the company expects to open eight to nine new restaurants, consisting of five to six Bagger Dave's and three Buffalo Wild Wings, exclusive of any acquisitions.

Diversified Restaurant Holdings Mulls Acquisitions

Diversified Restaurant Holdings, Inc. (NasdaqCM:BAGR) is seeking acquisitions. Michael Ansley, President and Chief Financial Officer of Diversified Restaurant Holdings said at fourth quarter and fiscal year 2014 results, “Still, our demonstrated track record of acquiring and successfully integrating BWW restaurants provides us with the confidence to evaluate acquisitions within the BWW system as they come to market, while simultaneously moving forward with our growth plans for Bagger Dave's."

Diversified Restaurant Holdings, Inc. Announces Opening of Bagger Dave's Burger Tavern in Crown Point, Indiana

Diversified Restaurant Holdings, Inc. announced the opening of a Bagger Dave's in Crown Point on March 9, 2015. This opening marks the second location in Northwest Indiana and the ninth in the state of Indiana. The new Bagger Dave's restaurant is located at 10755 Broadway Drive in the Beacon Hill Shopping Center. The 4,800-square-foot tavern features table service, an outdoor patio and full bar serving local bottle and draft beers, wine, craft bourbons, signature drinks and adult shakes. Approximately 80 local employees were hired to fill positions at the new restaurant, which seats roughly 200 patrons.

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