Hotels, Restaurants and Leisure
Company Overview of Diversified Restaurant Holdings, Inc.
Diversified Restaurant Holdings, Inc. operates as a restaurant company in the United States. The company 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, and other items. It also operates Buffalo Wild Wings grill and 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 November 25, 2014, the company operated 23 company-owned Bagger Dave's restaurants in Michigan and Indiana; and 4...
27680 Franklin Road
Southfield, MI 48034
Founded in 1999
Key Executives for Diversified Restaurant Holdings, Inc.
Total Annual Compensation: $310.4K
Chief Financial Officer
Total Annual Compensation: $258.9K
Chief Operating Officer and Secretary
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. Announces Opening of Buffalo Wild Wings in Hammond, Indiana
Nov 25 14
Diversified Restaurant Holdings, Inc. announced the opening of a Buffalo Wild Wings in Oxbow Landing at 2492 Carlson Drive in Hammond, Indiana on November 23, 2014. This opening marks the fifth Buffalo Wild Wings location for DRH in the state of Indiana. Oxbow Landing is located in Northwest Indiana near the intersection of Interstates 80/94 and Kennedy Avenue. The restaurant showcases Buffalo Wild Wings' refreshed Stadia design which fosters customer excitement through a dynamic sports viewing atmosphere and also features an outdoor patio. Regular restaurant hours will be Sunday through Wednesday, 11:00 AM to 12:00 AM, and Thursday through Saturday, 11:00 AM to 1:00 AM. Regular restaurant hours will be Sunday through Wednesday, 11:00 AM to 12:00 AM, and Thursday through Saturday, 11:00 AM to 1:00 AM. Year to date, DRH has opened two new Buffalo Wild Wings in Pinellas Park, Florida and Hammond, Indiana, as well as five new Bagger Dave's in Woodhaven and Grand Blanc, Michigan; and Carmel, Fishers, and Schererville, Indiana.
Diversified Restaurant Holdings, Inc. Announces Opening of Bagger Dave's Burger Tavern in Grand Blanc, Michigan
Nov 25 14
Diversified Restaurant Holdings, Inc. announced the opening of a Bagger Dave's in Trillium Circle at 8235 Trillium Circle Avenue in Grand Blanc, Michigan on November 23, 2014. Trillium Circle is a lifestyle center located on Holly Road on the south side of Grand Blanc. The restaurant is designed to appeal to a wide range of guests and showcases refreshed interior and exterior design elements, including signature historic photos of the community around the restaurant, as well an all-seasons outdoor patio. Regular restaurant hours will be Sunday and Monday, 11:00 AM to 10:00 PM, Tuesday through Thursday, 11:00 AM to 11:00 PM, and Friday and Saturday from 11:00 AM to 12:00 AM.
Diversified Restaurant Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 28, 2014; Provides Earnings Guidance for the Year 2014; Expects Opening of Six Bagger Dave's and Three Buffalo Wild Wings Locations in the Year 2014; Expects Openings of Eight to Nine Restaurant in the Year 2015
Nov 6 14
Diversified Restaurant Holdings, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 28, 2014. For the quarter, the company reported revenue of $32,782,092 compared to $26,368,090 a year ago. Operating profit was $185,059 against $307,749 a year ago. Loss before income taxes was $230,209 against income before income taxes of $55,366 a year ago. Net loss was $182,109 or $0.01 per share basic and diluted against net income of $69,810 or $0.00 per share basic and diluted a year ago. The growth in revenue was driven by a 5.0% increase in consolidated comparable- store sales, three acquired Florida Buffalo Wild Wings restaurants, and the addition of ten new restaurants over the past year, comprised of eight Bagger Dave's and two Buffalo Wild Wings locations. On a two-year basis, comparable-store sales grew 8.7% in the third quarter. Adjusted EBITDA increased 25.6% to $3.8 million. EBITDA was $3,083,866 against $2,401,560 a year ago. Restaurant--Level EBITDA was $5,827,094 against $4,599,982 a year ago.
For the nine months, the company reported revenue of $93,264,727 compared to $80,410,174 a year ago. Operating profit was $1,254,888 against $1,646,721 a year ago. Loss before income taxes was $94,778 against income before income taxes of $364,033 a year ago. Net income was $85,252 or $0.00 per share basic and diluted against $311,847 or $0.01 per share basic and diluted a year ago.
Revenue for fiscal year 2014 is now expected in the range of $128 million to $130 million, versus previous expectations for $128 million to $133 million. The variance is driven by lower than anticipated new restaurant openings as a result of construction and permitting issues. Adjusted EBITDA for 2014 is projected in the range of $14.0 million to $15.0 million. Restaurant-level EBITDA for 2014 is expected between $22.6 million and $24.1 million.
The company now anticipates ending 2014 with 66 restaurants, including the opening of six Bagger Dave's and three Buffalo Wild Wings locations, versus previous expectations of eight Bagger Dave's and three Buffalo Wild Wings locations. The two Bagger Dave's that are being delayed due to construction and permitting issues are scheduled to open in the first quarter of 2015.
Following over 20% unit growth in 2014, the company is guiding to eight to nine restaurant openings in 2015, consisting of five to six Bagger Dave's and three Buffalo Wild Wings locations.
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