Last $5.32 USD
Change Today -0.02 / -0.37%
Volume 16.3K
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As of 8:04 PM 08/19/14 All times are local (Market data is delayed by at least 15 minutes).

luby's inc (LUB) Key Developments

Luby's, Inc.(NYSE:LUB) dropped from Russell 2000 Index

Luby's, Inc. will be removed from the Russell 2000 Index.

Luby's, Inc.(NYSE:LUB) dropped from Russell 3000 Index

Luby's, Inc. will be removed from the Russell 3000 Index.

Luby's, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended May 07, 2014; Expects to Open Opening New Restaurants in 2014 and 2015; Revises Earnings Guidance for the Year 2014; Provides Capital Expenditure Guidance for the Fourth Quarter of Fiscal Year 2014 and Full Fiscal Year 2015

Luby's, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended May 07, 2014. For the quarter, the company reported total sales of $97,208,000 compared to $96,336,000 a year ago. Income from operations was $3, 517,000 compared to $4,113,000 a year ago. Income before income taxes and discontinued operations was $3,358,000 compared to $4,148,000 a year ago. Net income was $1,729,000 or $0.06 basic and diluted per share compared to $2,461,000 or $0.08 diluted per share a year ago. Income from continuing operations declined to $1.7 million compared to $2.7 million in the prior year, while total revenue increased $0.9 million year-over-year. Total company EBITDA, excluding Cheeseburger and new restaurant opening cost for the quarter, was $7.8 million. Net debt was $34.2 million. For the nine months period, the company reported total sales of $272,944,000 compared to $262,490,000 a year ago. Loss from operations was $1,449,000 compared to income from operations of $5,427,000 a year ago. Loss before income taxes and discontinued operations was $1,595,000 compared to income before income taxes and discontinued operations of $5,526,000 a year ago. Net loss was $2,000,000 or $0.07 basic and diluted per share compared to net income of $2,731,000 or $0.09 diluted per share a year ago. Net cash provided by operating activities was $11,788,000 compared to $16,627,000 a year ago. Purchases of property and equipment were $31,124,000 compared to $17,071,000 a year ago. EBITDA, excluding CIP, was $17.4 million compared to $18.2 million in the prior year. The company expects new restaurant development plans, opening seven new restaurants (excluding openings related to converted restaurants) so far in fiscal 2014. By early fall 2014, the company will open two more side-by-side Luby's and Fuddruckers locations and at least two more stand-alone Fuddruckers. At least two additional restaurant construction starts for fiscal 2015 openings, consistent with prior expectations. The company expects same-store sales growth of up to 0.5%, a revision from previous guidance of up to 1.0%. Total restaurant sales, including same-store sales plus the contribution from new store openings, offset by store closings, is now expected to be on the lower end of total restaurant sales guidance range of $375 million to $385 million. Sales will be impacted by a 60 to 90 day latency period while close and refashion the stores; cash flow will be negatively impacted as incur costs to close certain Cheeseburger in Paradise locations and incur costs to re-open these locations as Fuddruckers. The company anticipates investing up to $42 million in capital expenditures in fiscal 2014, including up to $18 million for restaurant openings and beginning construction in fiscal 2014 for fiscal 2015 openings, up to $6 million in restaurant remodels and conversions, and up to $11 million to purchase parcels of land for new restaurant development; the balance of projected capital expenditures include on-going maintenance of restaurant properties and equipment and technology infrastructure investments. For the fourth quarter, The company expects to invest $10 million to $11 million in CapEx. This includes $1.5 million in land, $5.4 million related to new units, $1.7 million related to that last remodel and restaurant conversions, concept conversions and $2 million in recurring maintenance capital. In fiscal 2015, excluding land purchases, the company currently expect to have capital expenditures of approximately $25 million, compared to approximately $30 million in fiscal 2014.

Luby's, Inc. to Report Q3, 2014 Results on Jun 12, 2014

Luby's, Inc. announced that they will report Q3, 2014 results at 5:00 PM, Eastern Standard Time on Jun 12, 2014

Luby's, Inc., Q3 2014 Earnings Call, Jun 13, 2014

Luby's, Inc., Q3 2014 Earnings Call, Jun 13, 2014

 

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Price/Book 0.9x
Price/Cash Flow 8.4x
TEV/Sales 0.3x
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