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September 03, 2015 6:15 PM ET

Hotels, Restaurants and Leisure

Company Overview of Del Frisco's Restaurant Group, Inc.

Company Overview

Del Frisco’s Restaurant Group, Inc. develops, owns, and operates restaurants in the United States. It owns and operates restaurants under the Del Frisco’s Double Eagle Steak House, Sullivan’s Steakhouse, and Del Frisco’s Grille brand names. The company offers steaks, as well as other menu selections, such as chops and fresh seafood. As of August 24, 2015, it operated approximately 49 restaurants in 20 states and Washington, D.C. The company was founded in 1981 and is headquartered in Southlake, Texas.

930 South Kimball Avenue

Suite 100

Southlake, TX 76092

United States

Founded in 1981

4,745 Employees

Phone:

817-601-3421

Key Executives for Del Frisco's Restaurant Group, Inc.

Chief Executive Officer
Age: 58
Total Annual Compensation: $400.0K
Chief Financial Officer
Age: 47
Total Annual Compensation: $330.0K
Compensation as of Fiscal Year 2014.

Del Frisco's Restaurant Group, Inc. Key Developments

Del Frisco's Restaurant Group, Inc. Opens New Grille Location in Stamford, CT

Del Frisco's Restaurant Group, Inc. announced the opening of its newest Del Frisco's Grille in Stamford, CT located at 101 Broad Street. The new location in downtown Stamford opened on August 21. This marks the 19th Del Frisco's Grille across the country, and the 49th restaurant overall for Del Frisco's Restaurant Group, which also owns and operates 12 Del Frisco's Double Eagle and 18 Sullivan's Steakhouse locations.

Del Frisco's Restaurant Group, Inc. Opens Del Frisco's Double Eagle Steak House in Orlando, Florida

Del Frisco's Restaurant Group, Inc. announced the opening of its newest Del Frisco's Double Eagle Steak House in Orlando, Florida. The restaurant is located at 9150 International Drive, across the street from the Pointe Orlando shopping and entertainment district and within walking distance of the Orange County Convention Center. Del Frisco's Double Eagle Steak House is known for its impeccable hospitality and consistent, superior standards. The new Orlando restaurant will serve the concept's bold, chef-driven cuisine under the direction of Executive Chef Greg Thompson. The menu offers the finest quality and selection of meats and seafood, including Large Cold-Water Lobster Tails, Veal Porterhouse, Lamb Chops, signature Jumbo Lump Crab Cakes, as well as hearty family-style side dishes and decadent desserts like the Lemon Cake. In addition to signature menu items, Del Frisco's Orlando will offer special menu items such as Thick Cut Bacon Au Poivre, Braised Short Rib Dumplings, and Escargot. The menu also features an wine list wine list of more than 1,200 vintages that includes a number of notable verticals from both old and new world producers. The unique 16,934 square foot 2-floor interior boasts two bars, four private dining rooms and a picturesque patio with total guest capacity of 419. The architecture of the building was inspired by the art deco history of Florida and the pops of color and a one-of-a-kind art collection further define the impressive surroundings. The Orlando Del Frisco's Double Eagle Steak House will be open will be open Monday through Saturday from 11 a.m. to 11 p.m. and Sunday 11 a.m. to 10 p.m.

Del Frisco's Restaurant Group Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 16, 2015; Revises Earnings Guidance for the Year Ending December 29, 2015

Del Frisco's Restaurant Group reported unaudited consolidated earnings results for the second quarter and six months ended June 16, 2015. For the quarter, net income was $3.7 million, or $0.16 per basic and diluted share, down from $4.8 million or $0.20 per basic and diluted share in second quarter 2014. Revenues were $73.8 million, up from $67.4 million reported for the same period last year. Operating income was $5.49 million compared to $6.92 million a year ago. Income before income taxes was $5.40 million compared to $6.88 million a year ago. Adjusted pre-tax income was $5.47 million compared to $6.88 million a year ago. Adjusted net income was $3.77 million or $0.16 per basic and diluted share compared to $4.82 million or $0.20 per basic and diluted share a year ago. Restaurant-level EBITDA increased 5.2% to $16.5 million in the second quarter from $15.7 million in the year-ago period, while margins decreased to 22.4% versus 23.3% in the prior year. For the six months, the company reported revenue of $148.88 million compared to $134.01 million a year ago. Operating income was $13.29 million compared to $13.67 million a year ago. Income before income taxes was $13.08 million compared to $13.60 million a year ago. Net income was $9.11 million, or $0.39 per basic and diluted share compared to $9.29 million or $0.39 per basic and diluted share a year ago. Adjusted pre-tax income was $13.24 million compared to $13.60 million a year ago. Adjusted net income was $9.13 million or $0.39 per basic and diluted share compared to $9.39 million or $0.39 per diluted share a year ago. Restaurant-level EBITDA was $33.616 million compared to $30.449 million in the year-ago period. The company provided consolidated earnings guidance for the year ending December 29, 2015. For full year 2015, the restaurant company expects adjusted earnings to range from $0.86 to $0.89 per share on revenues of between $332 million to $341 million. Total comparable restaurant sales are also expected to increase by 0.5% to 1.5% compared to previous guidance range of 2% to 3%. The company expects consolidated revenue growth of 10% to 13%. Total comparable restaurant sales increase is expected to be 0.5% to 1.5%. Annual restaurant-level EBITDA is expected to be 21.8% to 22.2% of consolidated revenues down from previous range of 22% to 22.4% and mostly as a consequence of sales deleveraging on occupancy. Effective tax rate is expected to be approximately 30% to 32%. Gross capital expenditures (before tenant allowances) are expected to be $40 million to $45 million. Annual adjusted earnings per diluted share growth are expected to be between 5% and 9% compared to previous guidance range of 18% to 18%.

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