Diversified Restaurant Holdings to Participate in the Telsey Advisors Group's Consumer Conference
Projects 2010 Revenue to more than double to range of $42 to $44
million
Sep. 23, 2010 (Business Wire) -- Diversified Restaurant Holdings, Inc. (OTCBB: DFRH) (“DRH” or the “Company”), the owner/operator and franchisor of the unique, full-service, ultra-casual restaurant and bar, Bagger Dave’s Legendary Burgers & Fries® (“Bagger Dave’s”), and a leading franchisee for Buffalo Wild Wings® (“BWW”), announced today that Michael Ansley, President and CEO, will participate in the Restaurants Franchise Panel at the Telsey Advisors Group’s upcoming Consumer Conference in Las Vegas, Nevada, on September 29, 2010. Mr. Ansley, along with CFO David Burke, will also present to and meet with interested investors at the conference, where they plan discuss revenue expectations for 2010 of $42 to $44 million, more than double revenue of $19.1 million in 2009. The growth is largely being driven by the Company’s February 2010 acquisition of nine previously–managed stores.
Mr. Ansley is highly regarded among franchisees in the U.S. and has earned many accolades during his 15 years as a franchisee for BWW, including the company’s most prestigious Scott Lowery Franchise Development Award. Today DRH operates 18 successful BWW stores, 13 in Michigan and 5 in Florida, with planned openings in Ft. Myers and Lakeland, Florida, in November 2010 and January 2011, respectively, and Traverse City, Michigan, in January 2011. The Company expects to operate a total of 38 BWW stores in Michigan and Florida by 2017 under its Area Development Agreement with Buffalo Wild Wings International. In addition, DRH currently operates three Bagger Dave’s restaurants in Michigan: Berkley, Ann Arbor, and Novi. A fourth location is scheduled to open, in Brighton, Michigan, in January of 2011.
The Consumer Conference will feature companies across sectors, ranging from broadlines, hardlines, luxury goods, specialty stores, restaurants and gaming and lodging and will be well-attended by investment professionals including analysts, portfolio and mutual fund managers and investment advisors. Almost 400 investors attended the Telsey conference in April 2010.
About Diversified Restaurant Holdings
DRH is a leading BWW® franchisee, currently operates 18 BWW restaurants (five in Florida and 13 in Michigan), with the 19th scheduled to open in the fourth quarter of 2010, and the 20th and 21st scheduled to open in the first quarter of 2011. DRH is also the recipient of many franchise awards, including an award for the Highest Annual Restaurant Sales.
The Company also owns and operates its own unique, full-service, ultra-casual restaurant and bar concept, Bagger Dave’s, which was launched in January 2008. The concept focuses on local flair with the interior showcasing historic photos of the city in which it resides. Bagger Dave’s offers a full-service, family-friendly restaurant and bar with a casual, comfortable atmosphere. The menu features freshly made burgers (never frozen), accompanied by more than 30 toppings from which to choose, fresh-cut fries, hand-dipped milkshakes, and a selection of craft beer and wine. Signature items include Sloppy Dave’s BBQ®, Train Wreck Burger®, and Bagger Dave’s Amazingly Delicious Turkey Black Bean Chili®. There’s also an electric train that runs above the dining room and bar areas. All current and future locations will be smoke-free. Currently, there are three locations in the State of Michigan, with the fourth scheduled to open in the fourth quarter of 2010. DRH has filed for rights, and has been approved, to franchise Bagger Dave’s in the States of Michigan, Indiana, Ohio, and Illinois. For more information, please visit www.baggerdaves.com.
DRH routinely posts news and other important information on its Web site at www.diversifiedrestaurantholdings.com.
Safe Harbor Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. Forward-looking statements are based upon the current beliefs and expectations of management. All statements addressing operating performance, events, or developments that DRH expects or anticipates will occur in the future, including but not limited to franchise sales, restaurant openings, financial performance, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units, or the market price of its common stock are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. Actual results may vary materially from those contained in forward-looking statements based on a number of risk factors and uncertainties including, without limitation, our ability to operate in new markets, the cost of commodities, the success of our marketing and other initiatives to attract customers, customer preferences, operating costs, economic conditions, competition, the availability of financing for franchisees and the Company, and the impact of applicable regulations. These and other risk factors and uncertainties are more fully described in the Company’s most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission. Undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, DRH disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.
Investor:
Kei Advisors LLC
Deborah K. Pawlowski / James M. Culligan
716-843-3908 / 716-843-3874
Email: dpawlowski@keiadvisors.com / jculligan@keiadvisors.com
or
Diversified Restaurant Holdings, Inc.
David G. Burke, 248-223-9160
Chief Financial Officer
dgburke@baggerdaves.com
Source: Business Wire (September 23, 2010 - 3:51 PM EDT)
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