Smitter, this earnings news is what made RT a buyout interest by this private firm recently ?? COME ON MAN !
This is very bad earnings again::
Fiscal First Quarter 2018 Highlights (13 weeks ended September 5, 2017, compared to the 13 weeks ended August 30, 2016):
Total revenue declined 15.3% to $217.3 million, which included a net reduction of seven Company-owned restaurants compared to the end of the first quarter of the prior fiscal year. As a reminder, 95 restaurants were closed in connection with our August 11, 2016 announcement and therefore we lacked the sales contributions of these restaurants from the year-ago period during the fiscal first quarter of 2018.
Same-restaurant sales declined 5.8% compared to a 2.7% decrease in the first quarter of the prior fiscal year.
Closures and Impairments expense, net of gains on property sales of $2.3 million, was $7.8 million, compared to $30.2 million in the first quarter of the prior fiscal year.
Net Loss was $9.8 million, or ($0.16) per diluted share, compared to Net Loss of $39.7 million, or ($0.66) per diluted share in the first quarter of the prior fiscal year.
Restaurant Level Margin* increased 250 basis points to 16.4%.
Adjusted Net Loss* was $0.7 million, or ($0.01) per diluted share, compared to an Adjusted Net Loss of $6.8 million, or ($0.11) per diluted share in the first quarter of the prior fiscal year.
Adjusted EBITDA* was $13.3 million compared to $4.9 million in the first quarter of the prior fiscal year.
As of September 5, 2017, the Company had cash and cash equivalents of $48.1 million.
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