Businessweek

Christopher J. Pappas, President and Chief Executive Officer of Luby's, Inc. (NYSE:LUB) said that Luby's have a balance sheet with limited leverage at less than one times EBITDA, and ample credit available for funding capital plans and potential acquisitions.

Luby's, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended February 13, 2013. For the quarter, the company's total sales were $87,478,000 against $79,415,000 a year ago. Income from operations was $1,095,000 against $2,008,000 a year ago. Income before income taxes and discontinued operations was $1,090,000 against $1,960,000 a year ago. Income from continuing operations was $603,000 or $0.02 per basic and diluted share against $1,357,000 or $0.05 per basic and diluted share a year ago. Net income was $203,000 or $0.01 per basic and diluted share against $1,088,000 or $0.04 per basic and diluted share a year ago. The company invested $6.5 million in capital expenditures in the second quarter fiscal 2013, including $2.4 million to purchase two parcels of land. For the six months, the company's total sales were $166,931,000 against $158,738,000 a year ago. Income from operations was $1,319,000 against $2,995,000 a year ago. Income before income taxes and discontinued operations was $1,385,000 against $2,855,000 a year ago. Income from continuing operations was $819,000 or $0.03 per basic and diluted share against $1,927,000 or $0.07 per basic and diluted share a year ago. Net income was $332,000 or $0.01 per basic and diluted share against $1,291,000 or $0.05 per basic and diluted share a year ago. Net cash provided by operating activities was $7,567,000 against $10,125,000 a year ago. Purchases of property and equipment were $11,435,000 against $9,247,000 a year ago. Acquisition of Cheeseburger in Paradise was $10,706,000. The company is adjusting its fiscal year earnings per share guidance downward to a range of $0.21 to $0.25, from $0.27 to $0.30, before special items. The company is lowering its expectations for same store sales from a previous range of 0.5% to 1.5% to approximately flat to down 1.0%. Restaurants sales are projected to be in the range of $362 million to $368 million, which includes a contribution of approximately $37 million from the newly acquired Cheeseburger in Paradise operation. The lowering of its sales and earning guidance for 2013 was mainly due to external economic issues. The company will continue to expand its geographic footprint and anticipates substantially completing two additional units by the end of fiscal 2013 for opening in the fall 2013. The company continues to build its new unit pipeline of locations. Its current pipeline includes locations for three Luby's Cafeterias and five Fuddruckers. For the remainder of the fiscal year, the company plan to substantially complete one Luby's Fuddruckers combination location and one Fuddruckers end-cap location for opening in the fall 2013. In addition to the acquisition of twenty-three Cheeseburger in Paradise full service restaurants in December 2012, the company also growing its Fuddruckers franchise pipeline. The company announced a domestic franchise development agreement for up to five units in North Dakota and a separate international development agreement to open up to eight Fuddruckers locations in Panama and two locations in Aruba.

Luby's, Inc. announced that they will report Q2, 2013 results After-Market on Mar 21, 2013

Luby's, Inc., Q2 2013 Earnings Call, Mar 21, 2013

Luby's Inc. reported unaudited consolidated earnings results for the first quarter ended November 21, 2012. For the quarter, the company reported total sales of $79,453,000 against $79,325,000 a year ago. Income from operations was $206,000 against $969,000 a year ago. Income before income taxes and discontinued operations was $267,000 compared to $908,000 a year ago. Income from continuing was $189,000 or $0.01 per basic and assuming dilution share against $583,000 or $0.02 per basic and assuming dilution share a year ago. Net income was $129,000 or $0.01 per basic and assuming dilution share against $204,000 or $0.01 per basic and assuming dilution share a year ago. Net cash provided by operating activities was $6,586,000 compared to $8,803,000 a year ago. Purchases of property and equipment were $4,874,000 compared to $4,519,000 a year ago. Income from continuing operations, before special items was $88,000 or $0.00 per share compared to $514,000 or $0.02 per share a year ago. The company expects to invest approximately $24 million to $29 million in capital projects during fiscal 2013. The capital will be dedicated to its projected new unit growth, remodeling of existing restaurants, and the on-going maintenance of its operations. Additional capital spend above this level may occur to purchase land and begin construction of restaurants that will open subsequent to fiscal year 2013. As announced previously, the company expects that its same store sales for its fiscal year 2013 will increase between 0.5% and 1.5% and that its restaurant sales will be in the range of $370 million to $375 million, which includes a contribution of approximately $39 million from the newly acquired Cheeseburger in Paradise operation. The company anticipates that the acquisition will be accretive to earnings, excluding integration expenses during fiscal 2013. Earnings per diluted share are anticipated to grow to $0.27 to $0.30 in fiscal 2013, due to increased sales and margin expansion. The company will continue to expand its geographic footprint and anticipates opening one to two cafeterias in 2013 and three to five Fuddruckers.