Texas Roadhouse posts higher 2Q earnings, beats estimates

Texas Roadhouse?s second-quarter net income rose to $20.3 million, or 28 cents per share, diluted, from $16 million, or 22 cents per share, diluted, a year earlier.

Texas Roadhouse Inc.?s net income for the second quarter, ended June 26, rose to $20.3 million, or 28 cents per share, diluted, from $16 million, or 22 cents per share, diluted, a year earlier.

Earnings per share beat the estimate of 24 cents predicted by a consensus of analysts surveyed by Thomson Financial.

Revenue for the quarter rose 15 percent, to $320.2 million from $279.5 million a year earlier.

Net income for the first six months of fiscal 2012 rose to $39.1 million from $35.8 million in 2011.

Revenue for the first six months rose to $645.1 million from $563.3 million.

?Our results remained strong in the second quarter, highlighted by 15 percent revenue growth,? Kent Taylor, CEO of Louisville-based Texas Roadhouse (NASDAQ: TXRH) said in the earnings release. ?We are encouraged by the impressive sales volume currently being generated by our 2012 restaurant class.?

According to the steakhouse chain's financial report, total costs and expenses, especially cost of sales, labor and other operating costs, were higher for the second quarter.

Louisville-based Texas Roadhouse opened seven company restaurants in the second quarter. Comparable restaurant sales increased 4.5 percent at company restaurants and 4.8 at franchise restaurants.

In the first six months, Texas Roadhouse has opened a total of 15 company restaurants, 10 more than it opened during the same period in 2011.

In total, there are 381 Texas Roadhouse restaurants, 31 more restaurants than at the end of the second quarter last year.

Andrew Robinson covers these beats: Restaurants, retail, attorneys, human resources, technology, K-12 education, automotive (dealers, services), media/marketing/printing, young professionals, West End, East End and Oldham County.

Follow Your Favorites with My News

My News is a way to create a customized news feed based on companies and industries that matter to you.

Source: http://feeds.bizjournals.com/~r/bizj_national/~3/HPHt_gtLuo4/texas-roadhouse-posts-higher-2q.html

texas chainsaw massacre uk vs louisville university of kansas buckeye west side story final four 2012 bridesmaids