Dave & Buster's Entertainment's (PLAY) CEO Steve King Discusses Q2 2015 Results - Earnings Call Transcript
Sep. 8, 2015 9:57 PM ET | About: Dave & Buster's Entertainment, Inc. (PLAY)
Operator
Good afternoon, everyone and welcome to the Dave & Buster’s Inc. Second Quarter 2015 Earnings Conference Call. Today’s call is being hosted by Steve King, Chief Executive Officer. I would like to remind everyone that this call is being recorded and will be available for replay beginning later today. Now, I would like to turn the conference over to Jay Tobin, Senior Vice President and General Counsel for opening remarks. Sir, please go ahead.
Jay Tobin - Senior Vice President and General Counsel
Thank you, Shannon and thank you all for joining us for the Dave & Buster’s Entertainment Incorporated quarterly conference call. On the call today are Steve King, Chief Executive Officer and Brian Jenkins, Chief Financial Officer. After comments from both Mr. King and Mr. Jenkins, we will open the call for your questions. This call is being recorded on behalf of the company and is copyrighted.
Before we begin our discussion of the company’s results, I would like to call your attention to the fact that in our remarks and our responses to your questions, certain items may be discussed, which are not based entirely on historical facts. Any such items should be considered forward-looking statements and relate to future events within the meaning of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Information on the various risk factors and uncertainties has been published in our filings with the SEC, which are available on our website at www.daveandbusters.com under the Investor Relations section.
In addition, our remarks today will include references to adjusted EBITDA, store level EBITDA and pro forma net income, which are financial measures that are not defined under Generally Accepted Accounting Principles. Investors should review the reconciliation of these non-GAAP measures to the comparable GAAP results contained in our earnings announcement released this afternoon, which is also available on our website.
Now, I will turn the call over to Steve.
Steve King - Chief Executive Officer
Thanks, Jay and good afternoon everyone. We appreciate your participation in today’s conference call and interest in our company. Once again, we are excited to be sharing with you another record-setting second quarter at Dave & Buster’s. As the numbers demonstrate, we leveraged our robust comparable store sales increases and strong revenue contributions from newer stores into our best store level EBITDA and adjusted EBITDA margins today. In addition, we are gratified that our 8 non-comparable store sales in the 2014 class are generating returns far above our 35% targeted year 1 cash-on-cash and that our 2015 class of stores is off to a good start.
Our stellar performance during the recent three-month period on top of a solid beginning to the year in the first quarter has positive implications from our – for our full year guidance as Brian will explain. But for now, my takeaway is that we are driving exceptional results through effective execution of our strategic plan and that our brand is truly seemed as highly differentiated from conventional casual dining. This is because our guests can take advantage of multiple entertainment options and customize their experience in a mirror that cannot be replicated elsewhere thereby maximizing their fun.(PLAY)
