bloomin' brands inc (BLMN) Snapshot

Bloomin' Brands, Inc. Presents at Jefferies 2013 Global Consumer Conference, Jun-18-2013 10:00 AM. Venue: The White Elephant Hotel, Nantucket, Massachusetts, United States. Speakers: David J. Deno, Chief Financial Officer, Principal Accounting Officer and Executive Vice President.

Bloomin' Brands, Inc. Presents at William Blair & Company 33(rd) Annual Growth Stock Conference, Jun-11-2013 12:50 PM. Venue: Four Seasons Hotel, Chicago, Illinois, United States. Speakers: Elizabeth A. Smith, Chairman of the Board, Chief Executive Officer and President.

Bloomin' Brands, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenues of $1,092,250,000 compared to $1,055,626,000 for the same period a year ago. This increase was primarily due to additional revenues from the opening of 44 new restaurants not included in the company's comparable restaurant sales base and an increase in comparable restaurant sales at existing restaurants. Income from operations was $96,860,000 compared to $90,408,000 last year. Income before provision for income taxes was $75,763,000 compared to $66,637,000 last year. Net income attributable to the company was $63,223,000 or $0.50 per basic and diluted share compared to $49,999,000 or $0.47 per basic and diluted share last year. Adjusted net income attributable to the company was $63,223,000 or $0.50 per diluted share compared to $59,646,000 or $0.56 per diluted share last year. Adjusted income from operations was $96,860,000 compared to $99,495,000 last year. Adjusted diluted earnings per pro forma share were $0.50 per share, an increase of 2.0% of $0.49 from the same period in 2012. Total debt, net as on March 31, 2013 was $1,464,861,000. The company raised earnings guidance for the full year of 2013. For the year the company expected comparable restaurant sales growth of at least 2.0% with positive traffic. Adjusted net income attributable to company of $136.0 million to at least $141.0 million and GAAP net income attributable to company of $136.0 million to at least $165.0 million. The GAAP net income attributable to company assumes the potential release of the valuation allowance on deferred tax assets of at least $40.0 million during 2013 and a $14.0 million to $17.0 million charge associated with the repricing of the company's senior secured term loan B facility. Adjusted diluted earnings per share from at least $1.06 to at least $1.10 and GAAP diluted earnings per share from at least $1.06 to at least $1.28. Incorporated in the increase in full-year adjusted diluted earnings per share guidance of at least $1.10 is a second quarter estimate for Adjusted diluted earnings per share of at least $0.21. The adjusted effective income tax rate is expected to range from 20.0% to 22.0%. Additional expenses associated with the restaurant relocation plan would be in the range of approximately $4.0 million to $8.0 million for 2013. Full-year 2013 interest expense of approximately $74.0 million which is approximately $9.0 million less than previously anticipated.