BOBS: Merged with Queijo Acquisition Corp.; $18.30 per share.

http://otce.finra.org/DLDeletions

No, I saw it in March, then sold mine, since they buyout price was pretty close to the current price.
I think it was worth a lot more though.

do you have a link to this news? I might just load up on some more

News see this?? Buyout at $ 18.30 a share
Saw this at end of day today.
This is much too low IMO.
Thoughts?

Thinly traded Brazil Fast Food entered into definitive agreement to go private at $18.30/share; expected to close during the second quarter of 2015
Print
7:04 AM 3/25/2015 - Briefing.com
Under the terms of the merger agreement, Company stockholders (other than the Controlling Stockholders) would receive US$18.30 in cash for each outstanding share of Company common stock they own.

BOBS

Brazil Fast Food Announces Fourth Quarter and Fiscal Year 2013 Results
Date : 03/31/2014 @ 4:00PM
Source : Business Wire
Stock : Brazil Fast Food Corp. (PL) (BOBS)
Quote : 18.7 0.3 (1.63%) @ 5:00PM

Brazil Fast Food Announces Fourth Quarter and Fiscal Year 2013 Results
Print
Alert
Brazil Fast Food Corp. (PL) (USOTC:BOBS)
Intraday Stock Chart

Today : Monday 31 March 2014
Click Here for more Brazil Fast Food Corp. (PL) Charts.

Brazil Fast Food Corp. (OTC Markets: BOBS) (“Brazil Fast Food”, or “the Company”), the second largest fast-food restaurant chain in Brazil with 1,165 points of sale, operating under (i) the Bob’s brand, (ii) the Yoggi brand, (iii) KFC and Pizza Hut São Paulo as franchisee of Yum! Brands, and (iv) Doggis as master franchisee of Gastronomia & Negocios S.A. (former Grupo de Empresas Doggis S.A.), today announced financial results for the fourth quarter and fiscal year ended December 31, 2013.

Fiscal Year 2013 Highlights

System-wide sales totaled R$ 1,308.3 million, up 18.5% from 2012
Revenue totaled R$ 259.2 million, up 16% from 2012
Points of sale totaled 1,165 at the end of 2013, up from 1,031 at the end of 2012
EBITDA was R$ 39.1 million, up 19% from R$ 32.9 million in 2012
Operating income was R$ 33.3 million, up 15.3% from R $28.9 million in 2012
Net income was R$ 19.9 million, or R$ 2.45 per basic and diluted share

Fourth Quarter 2013 Highlights

System-wide sales totaled R$ 388.8 million, up 18% from the fourth quarter of 2012
Revenue totaled R$ 74.1 million, up 13.6% from the fourth quarter of 2012
EBITDA was R$ 10.7 million compared to R$ 11.6 million in the fourth quarter of 2012
Operating income was R$ 9 million compared to R$ 10.8 million in the fourth quarter of 2012
Net income was R$ 3.6 million, or R$ 0.44 per basic and diluted share

Note that all numbers are in Brazilian currency.

“We are pleased with the continued growth in revenue and EBITDA during 2013, in the face of a challenging economic environment that combines slowdown of both job creation and wage growth with persistent higher levels of inflation and increasing interest rates. In 2013, GDP growth was 2.3% and inflation (Broad National Consumer Price Index) 5.9%, as calculated by the Brazilian Institute of Geography and Statistics (IBGE). In addition, the basic interest rate increased 275 basis points and the value of the Brazilian currency fell by 14.6%, as reported by the Brazilian Central Bank,” said Mr. Ricardo Bomeny, CEO and CFO of Brazil Fast Food.

“Our results benefited from the expansion of Bob’s franchise outlets, the opening of an additional ten Pizza Hut restaurants in Sao Paulo, and two well-attended, one-time events in Rio, the Rock in Rio Festival and the Catholic World Youth Conference, which boosted sales at local outlets. Nevertheless, net income growth was muted due to higher interest expense and a higher tax rate.”

“Our strategy of shifting towards franchised operations for the Bob’s brand continues to pay off, with revenues from franchises increasing by 18.2% and operating income increasing by 15.3% for 2013 over the prior year. We also invested considerable energy during 2013 in refining two of our smaller brand concepts, Yoggi and Doggis, to enhance their appeal to Brazilian consumers and make sure we have the right product and format for this market. While small contributors to our results today, we believe that both have the potential to be significant brands in the future,” continued Mr. Bomeny.

Fourth Quarter 2013 Results

System-wide sales grew 18% in the fourth quarter to R$ 388.8 million, driven by an increase in the number of franchised points of sale.

Total revenue for the fourth quarter of 2013 was R$ 74.1 million, as compared to R$ 65.3 million in the fourth quarter of 2012, due to higher revenues from franchisees and own-operated restaurants.

Net restaurant sales for company-owned restaurants increased 12.2% year-over-year to R$ 57.2 million in the fourth quarter of 2013, driven by higher sales at Bob’s, KFC and Pizza Hut.

Net revenue from franchisees increased 18.3% year-over-year to R$ 17.0 million, driven primarily by an increase in number of franchised retail outlets to 1,080, as compared to 956 a year ago.

Operating expenses increased 19.7% to R$ 65.1 million in the fourth quarter of 2013 from R$ 54.4 million in the fourth quarter of 2012. As a percentage of revenue, operating costs increased to 87.9% of total revenue in the fourth quarter of 2013 from 83.4% of total revenue in the fourth quarter of 2012.

Operating income for the fourth quarter of 2013 was R$ 9 million, a decrease of 17% from R$ 10.8 million in the fourth quarter of 2012. Operating margin in the fourth quarter of 2013 declined to 12.1%, as compared to 16.6% in the fourth quarter of 2012.

EBITDA in the fourth quarter of 2013 was R$ 10.7 million, down by 8.5% as compared to R$ 11.6 million in the fourth quarter of 2012. EBITDA margin was 14.4%, as compared to 17.8% in the fourth quarter of 2012. Please refer Table No. 4 in this press release for a reconciliation of EBITDA to its nearest GAAP equivalent.

Interest expense was R$ 2.3 million in the fourth quarter of 2013, as compared to interest income of R$ 0.2 million in the fourth quarter of 2012.

Net income in the fourth quarter of 2013 was R$ 3.6 million, or R$ 0.44 per basic and diluted share, as compared to R$ 7.7 million, or R$ 0.95 per basic and diluted share in the fourth quarter of 2012.

Fiscal Year 2013 Results

For the twelve months ended December 31, 2013, total revenue was R$ 259.2 million, up 16% from R$ 223.4 million in 2012.

Same own-store sales, which measure the performance of stores open for more than a year, were up 9.3% for Bob’s, 9.4% for KFC and 5.5% for Pizza Hut for the twelve months ended December 31, 2013, versus comparable periods in 2012, driven by face-lifts at some stores, promotions and marketing campaigns. Our operating income and net income were negatively impacted by the rise in the purchase price of some products due to inflationary pressures and currency devaluation as well as aggressive value campaigns at Pizza Hut and KFC restaurants.

Operating income in 2013 was R$33.3 million, up 15.3% from R$ 28.9 million in 2012. Operating margin was 12.8% for 2013 compared to 12.9% in 2012. EBITDA in 2013 was R$ 39.1 million, up 19% as compared to R$ 32.9 million in 2012.

Net income in 2013 was R$ 19.9 million, as compared to net income of R$ 20.7 million in 2012. Basic and diluted net income per share was R$2.45 in 2013, as compared to basic and diluted net income per share of R$ 2.55 in 2012.

Financial Condition

As of December 31, 2013 the Company had R$ 50.1 million in cash and equivalents, up from R$ 32.1 million as of December 31, 2012. Working capital was R$ 41.9 million at the end of 2013, up from R$ 24.1 million as of December 31, 2012. Debt obligations with financial institutions was R$23.6 million as of December 31, 2013, up from R$20.9 million as of December 31, 2012. Total shareholders' equity was R$ 85.5 million at the end of 2013, compared to R$ 65.6 million at the end of 2012.

Key Events

On November 20, 2013, an investor group, including the majority owners of the company’s common stock, terminated its previously-announced offer to purchase all of the outstanding shares of the Company not owned by the investor group.

In 2006 the Company set up a Brazilian holding company, BFFC do Brasil Comércio e Participações Ltda (“BFFC do Brasil”, formerly 22N Participações Ltda), via the capital contribution of the equity interest the Company held in Venbo Comércio de Alimentos Ltda (“Venbo”).

Through this restructuring, the Company started to consolidate its businesses in Brazil through BFFC do Brasil, resulting in enhanced management decisions, improved efficiency, and easier access to bank loans. All these developments derived from the Company’s multi-brand strategy, which involved the operation in Brazil of international fast-food trademarks such as KFC, Pizza Hut and Doggis, followed by the acquisition of the Yoggi’s brand (local frozen yogurt franchisee).

In addition to the operating benefits, this restructuring generated income tax credits for Venbo for the five years subsequent to 2006.

The Company’s restructuring process and related tax benefits were reported on the Company’s Consolidated Financial Statements as at December 31, 2006 and 2007.

In the second semester of 2013, Venbo Comércio de Alimentos Ltda (“Venbo”), an indirect subsidiary of the Company, received notice from the Brazilian tax authorities requiring an inspection of its tax records. The tax inspectors found that the restructuring carried out in 2006, which was related to a consolidation of the Company’s businesses in Brazil and which generated income tax credits for Venbo, constituted abusive tax planning. As a consequence, Venbo was fined R$17 million. The Company filed an administrative appeal against the penalty charged by the Brazilian Internal Revenue Service (“RFB”).

The Company estimates that the RFB’s decision on whether it will uphold its decision will take two or three years at the administrative level. Should it uphold the tax assessment, the Company will take the matter to court, where it and its legal advisors expect to obtain a positive outcome. Based on these estimates the Company did not accrue any liability related to this issue in its Consolidated Financial Statements as at December 31, 2013. There can be no assurance that this tax assessment will not have a material impact on the business.

Business Outlook

In 2014, the company expects to continue a higher level of investment in advertising and promotion in order to support the growth of its brands in Brazil and respond to international competitors.

“As we have discussed in the past, the fast food industry in Brazil is becoming increasingly more competitive as large, international players invest in expansion. These players are attracted by the growth potential and relatively low penetration rates of the Brazilian quick service restaurant market,” Mr. Bomeny said. “We believe that our proven local retail brands and management expertise provide Brazil Fast Foods with certain tangible advantages. However, in the near term these conditions may lead to higher investment needs, increased spending on marketing and promotions, and margin pressures in a very price sensitive consumer sector.

“Besides, early school holidays due to the Football World Cup that will take place in Brazil might affect sales during June and July 2014. Normally school holidays have a positive effect on our business, but this time it will be combined with breaks for employees and the closure of cinemas, theatres, and shopping centers due to the games of the Football World Cup.

“Moreover, in June 2013, Brazil experienced countrywide civil unrest and protests against corruption, poor public services, and widespread disappointment in the economy and political leaders. In October 2014, Brazil will face presidential elections, as well as elections for senators, federal deputies and governors, with voters seemingly wanting sweeping policy changes. Although the impact of millions of people in the streets and online has been visible on both the economy and the popularity of Brazil’s politicians, the elections outcome is still unpredictable,” Bomeny concluded.

Because the operations of the Company and its subsidiaries are located entirely outside the United States, the Company is considering a future corporate restructuring. This restructuring would eliminate the Company, which is a corporation organized under the laws of the State of Delaware, from the current corporate structure so that all shareholders of the Company would become shareholders of BFFC do Brasil, which is a corporation organized under the laws of Brazil. This restructuring is intended to reconcile the currency, legal and tax jurisdictions of the Company and its subsidiaries with their operations and activities and permit BFFC do Brasil to more efficiently incur debt to finance the operations of the business. The Company expects to consider implementing the restructuring as soon as practicable.

About Brazil Fast Food Corp.

Brazil Fast Food Corp., through its holding company in Brazil, BFFC do Brasil Participações Ltda. (“BFFC do Brasil”, formerly 22N Participações Ltda.), and its subsidiaries, manage one of the largest food service groups in Brazil and franchise units in Angola and Chile. Our subsidiaries are Venbo Comércio de Alimentos Ltda. (“Venbo”), LM Comércio de Alimentos Ltda. (“LM”), PCN Comércio de Alimentos Ltda. (“PCN”), CFK Comércio de Alimentos Ltda. (“CFK”, former Clematis Indústria e Comércio de Alimentos e Participações Ltda.), CFK São Paulo Comércio de Alimentos Ltda. (“CFK SP”), MPSC Comércio de Alimentos Ltda. (“MPSC”),DGS Comércio de Alimentos Ltda. (“DGS”), CLFL Comércio de Alimentos Ltda. (“CLFL”), Little Boss Comércio de Alimentos Ltda. (“Little Boss”), Separk Comércio de Alimentos Ltda. (“Separk”), Schott Comércio de Alimentos Ltda. (“Schott”), FCK Franquias e Participações Ltda. (“FCK”, former Suprilog Logística Ltda.), Yoggi do Brasil Ltda. (“Yoggi”), and Internacional Restaurantes do Brasil S.A. (“IRB”). IRB has 40% of its capital held by individuals, including the CEO of IRB.

Safe Harbor Statement

This press release contains forward-looking statements within the meanings of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known or unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those expressed or implied by such forward looking statements. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the disclosures on the Company’s website and in the Company's filings with the Securities and Exchange Commission, including the risk factors contained in the Company's most recent annual report on Form 10-K and quarterly report Form 10-Q filed with the Securities and Exchange Commission.
BRAZIL FAST FOOD CORP. AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENTS
(in thousands of Brazilian Reais, except share amounts)

Quarter ended December 31,
2013 2012
REVENUES FROM RESTAURANTS AND FRANCHISEES
Net Revenues from Own-operated Restaurants (note 23) R$ 57.170 R$ 50.940
Net Revenues from Franchisees (note 23) 16.954 14.335

TOTAL REVENUES FROM RESTAURANTS AND FRANCHISEES 74.124 65.275

OPERATING COST AND EXPENSES
Store Costs and Expenses (note 23) (53.822 ) (44.560 )
Franchise Costs and Expenses (note 23) (2.871 ) (5.183 )
Administrative Expenses (note 17) (10.467 ) (9.319 )
Income from Trade Partners 7.293 6.210
Other Income 671 367
Other Operating Expenses (note 18) (6.609 ) (1.667 )
Impairment of assets (note 21) - -
Net result of assets sold 670 (281 )

TOTAL OPERATING COST AND EXPENSES (65.135 ) (54.433 )
OPERATING INCOME 8.989 10.842

Interest Expense, net (note 19) (2.341 ) 199

NET INCOME BEFORE INCOME TAX 6.648 11.041

Income taxes - deferred (note 11) 2.083 1.089
Income taxes - current (note 11) (4.959 ) (3.947 )

NET INCOME BEFORE NON-CONTROLLING INTEREST 3.772 8.183

Net (income) loss attributable to non-controlling interest (200 ) (446 )

NET INCOME ATTRIBUTABLE TO BRAZIL FAST FOOD CORP. R$ 3.572 R$ 7.737

NET INCOME LOSS PER COMMON SHARE
BASIC AND DILUTED R$ 0,44 R$ 0,95

WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING:
BASIC AND DILUTED 8.129.437 8.129.437

BRAZIL FAST FOOD CORP. AND SUBSIDIARIES

CONSOLIDATED INCOME STATEMENTS
(in thousands of Brazilian Reais, except share amounts)

Year ended December 31,
2013 2012
REVENUES FROM RESTAURANTS AND FRANCHISEES
Net Revenues from Own-operated Restaurants (note 23) R$ 206.688 R$ 178.107
Net Revenues from Franchisees (note 23) 52.552 45.315

TOTAL REVENUES FROM RESTAURANTS AND FRANCHISEES 259.240 223.422

OPERATING COST AND EXPENSES
Store Costs and Expenses (note 23) (196.311 ) (163.724 )
Franchise Costs and Expenses (note 23) (14.656 ) (15.650 )
Administrative Expenses (note 17) (34.120 ) (33.636 )
Income from Trade Partners 26.773 22.184
Other Income 1.283 2.289
Other Operating Expenses (note 18) (11.789 ) (5.584 )
Impairment of assets (note 21) - -
Net result of assets sold 2.878 (411 )

TOTAL OPERATING COST AND EXPENSES (225.942 ) (194.532 )
OPERATING INCOME 33.298 28.890

Interest Expense, net (note 19) (2.431 ) (467 )

NET INCOME BEFORE INCOME TAX 30.867 28.423

Income taxes - deferred (note 11) 2.343 1.089
Income taxes - current (note 11) (12.666 ) (7.552 )

NET INCOME BEFORE NON-CONTROLLING INTEREST 20.544 21.960

Net (income) loss attributable to non-controlling interest (621 ) (1.252 )

NET INCOME ATTRIBUTABLE TO BRAZIL FAST FOOD CORP. R$ 19.923 R$ 20.708

NET INCOME LOSS PER COMMON SHARE
BASIC AND DILUTED R$ 2,45 R$ 2,55

WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING:
BASIC AND DILUTED 8.129.437 8.129.437

BRAZIL FAST FOOD CORP. AND SUBSIDIARIES

BALANCE SHEETS - ASSETS
(in thousands of Brazilian Reais, except share amounts)

December 31,
2013 2012
CURRENT ASSETS:
Cash and cash equivalents R$ 50.083 R$ 32.062
Inventories 3.090 3.228
Accounts receivable 31.760 25.754
Prepaid expenses 747 892
Advances to suppliers 2.962 2.092
Bob's Marketing fund credits 717 -
Other current assets 3.761 6.601


TOTAL CURRENT ASSETS
93.120 70.629


NON-CURRENT ASSETS:
Property and equipment, net 47.240 39.414
Intangible assets, net 13.463 8.280
Deferred tax asset 10.644 8.565
Goodwill 1.121 1.121
Other receivables and other assets 13.118 13.667


TOTAL NON-CURRENT ASSETS
85.586 71.047


TOTAL ASSETS
R$ 178.706 R$ 141.676

BRAZIL FAST FOOD CORP. AND SUBSIDIARIES

BALANCE SHEETS - LIABILITIES AND EQUITY
(in thousands of Brazilian Reais, except share amounts)

December 31,
2013 2012

CURRENT LIABILITIES:
Loans and financing R$ 12.816 R$ 14.523
Accounts payable and accrued expenses 13.941 13.834
Payroll and related accruals 6.501 4.782
Taxes 7.884 7.848
Current portion of deferred income 7.537 3.398
Current portion of litigations and reassessed taxes 2.381 2.090
Other current liabilities 144 -


TOTAL CURRENT LIABILITIES
51.204 46.475

Deferred income, less current portion 8.877 1.608
Loans and financing, less current portion 10.744 6.397

Litigations and reassessed taxes, less current portion
20.190 18.472
Other liabilities 2.170 3.093


TOTAL NON-CURRENT LIABILITIES
41.981 29.570


TOTAL LIABILITIES
93.185 76.045

EQUITY

Preferred stock, $.01 par value, 5,000 shares authorized; no shares issued
- -
Common stock, $.0001 par value, 12,500,000 shares authorized;
8,472,927 shares issued for both years 2013 and 2012; 8,129,437
shares outstanding for both years 2013 and 2012 1 1
Additional paid-in capital 61.148 61.148
Treasury Stock (343,490 shares) (2.060 ) (2.060 )
Retained earnings 23.450 3.527
Accumulated comprehensive loss (1.769 ) (1.115 )

TOTAL EQUITY 80.770 61.501
Non-Controlling Interest 4.751 4.130

TOTAL EQUITY 85.521 65.631


TOTAL LIABILITIES AND EQUITY
R$ 178.706 R$ 141.676

BRAZIL FAST FOOD CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands of Brazilian Reais)

Year Ended December 31,
2013 2012
CASH FLOW FROM OPERATING ACTIVITIES:
NET INCOME (LOSS) ATTRIBUTABLE TO BRAZIL FAST FOOD CORP. R$ 19.923 R$ 20.708
Adjustments to reconcile net income to cash provided by
operating activities:

Depreciation and amortization 8.816 7.452
(Gain) Loss on assets sold and impairment of assets (2.878 ) 411
Deferred income tax asset (2.079 ) (187 )
Deferred income tax liability - (1.262 )
Non-controlling interest 621 1.252

Changes in assets and liabilities:
(Increase) decrease in:
Accounts receivable (6.006 ) (8.648 )
Inventories 138 757
Prepaid expenses and other current assets 2.115 (524 )
Other assets 549 (2.805 )
(Decrease) increase in:
Accounts payable and accrued expenses 107 2.226
Payroll and related accruals 1.719 (836 )
Taxes 36 2.828
Other liabilities 939 3.500
Deferred income 11.408 (169 )

CASH FLOWS PROVIDED BY OPERATING ACTIVITIES 35.408 24.703

CASH FLOW FROM INVESTING ACTIVITIES:
Additions to property and equipment (24.241 ) (17.974 )

Yoggi acquisition (note 3.2.3)
- (2.000 )
Exchange of shares (notes 3.2.2) (1.089 ) (1.089 )
Proceeds from sale of property, equipment and deferred charges 5.957 3.523

CASH FLOWS USED IN INVESTING ACTIVITIES (19.373 ) (17.540 )

CASH FLOW FROM FINANCING ACTIVITIES:
Net Borrowings (Repayments) under lines of credit 2.640 4.329
Acquisition of Company's own shares - -

Non-controlling paid in capital
- -

Non-controlling dividend paid by IRB
- (800 )

CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES 2.640 3.529

EFFECT OF FOREIGN EXCHANGE RATE (654 ) 13

NET INCREASE IN CASH AND CASH EQUIVALENTS 18.021 10.705

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 32.062 21.357

CASH AND CASH EQUIVALENTS AT END OF YEAR R$ 50.083 R$ 32.062

BRAZIL FAST FOOD CORP. AND SUBSIDIARIES

RECONCILIATION OF EBITDA TO NET INCOME

Quarter ended December 31, Year ended December 31,
2013 2012* 2013 2012*

NET INCOME (LOSS) R$ 3.572 R$ 7.737 R$ 19.923 R$ 20.708

Interest expenses, Monetary and Foreign exchange loss 2.104 (298) 1.815 11
Income taxes 2.744 2.568 10.004 5.894
Depreciation and amortization - Stores 1.924 1.290 5.788 4.817
Depreciation - Headquarters 304 345 1.614 1.476

EBITDA R$ 10.648 R$ 11.642 R$ 39.144 R$ 32.906


* The Company Management reviewed the computation of previously disclosure of 2012 EBITDA in order to include the effect of non-controlling interest.

EBITDA represents earnings before net interest expense, income tax provision, depreciation and amortization. Our management believes EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties in evaluating companies in our industry. In addition, our management believes that EBITDA is useful in evaluating our operating performance compared to that of other companies in our industry because the calculation of EBITDA generally eliminates the effects of financing and income taxes and the accounting effects of capital spending, which items may vary for different companies for reasons unrelated to overall operating performance. As a result, our management uses EBITDA as a measure to evaluate the performance of our business. However, EBITDA is not a recognized measurement under generally accepted accounting principles, or GAAP, and when analyzing our operating performance, investors should use EBITDA in addition to, and not as an alternative for, income from operations and net income, each as determined in accordance with GAAP. Not all companies use identical calculations, and our presentation of EBITDA may not be comparable to similarly titled measures of other companies. Furthermore, EBITDA is not intended to be a measure of free cash flow for our management’s discretionary use, as it does not consider certain cash requirements such as a tax and debt service payments.

Brazil Fast Food Corp.
Ricardo Figueiredo Bomeny, CEO
+1-55-21-2536-7501 (Brazil)
ir@bffc.com.br
www.bffc.com.br
or
Crocker Coulson
+1-323-270-8886
crocker.coulson@gmail.com

I called BOBS AT 3.00,I was the first to post on this board check it out. Now I am calling SWRL at 0.90.
Check them out you will thank me later.

Brazil Fast Food Announces Intention to Deregister
Date : 10/15/2012 @ 8:00AM
Source : Business Wire
Stock : Brazil Fast Food Corp. (BOBS)
Quote : 9.0 0.0 (0.00%) @ 3:04PM


Brazil Fast Food Announces Intention to Deregister
PrintAlert
Brazil Fast Food Corp. (OTC Bulletin Board: BOBS) (“Brazil Fast Food”, or the “Company”), the second largest fast-food restaurant chain in Brazil with 983 points of sale, operating under (i) the Bob’s brand, (ii) the Yoggi brand, (iii) KFC and Pizza Hut São Paulo as franchisee of Yum! Brands, and (iv) Doggis as franchisee of Gastronomia & Negocios S.A. (formerly Grupo de Empresas Doggis S.A.), today announced that its board of directors approved the deregistration of the Company's common stock with the U.S. Securities and Exchange Commission (the “SEC”).
The Company will terminate the registration of its common stock under the U.S. Securities Exchange Act of 1934 (the “Exchange Act”). The Company intends to file a Form 15 with the SEC on or about October 22, 2012 to deregister its common stock under Section 12(g)(4) of the Exchange Act, and expects the deregistration to become effective 90 days after the Form 15 filing. Upon filing the Form 15, the Company would suspend its periodic reporting obligations under Section 15(d) of the Exchange Act, including its obligation to file Forms 10-K, 10-Q and 8-K.
The decision to deregister was driven by a desire to achieve substantial annual savings by reducing accounting, legal and administrative costs associated with being an SEC registrant. The Company expects to achieve approximately $300,000 in total annual cost savings, while maintaining the integrity and liquidity of its investors' stock holdings. The board of directors noted other factors in addition to the significant yearly cost savings, such as that deregistering the Company's shares should enable senior management to focus more on the day-to-day operations of the Company by eliminating the need to manage compliance with SEC reporting requirements.
Following the deregistration, the Company intends to continue to prepare and publish quarterly and annual financial results which will contain much of the financial information currently disclosed in the Company's periodic SEC reports. The Company anticipates its annual financial statements will continue to be audited, although the Company intends to switch its reporting standard to Brazilian GAAP, effective as of January 1, 2013.
“After careful consideration, the Board has concluded that deregistration is appropriate for Brazil Fast Food at this time,” Ricardo Figueiredo Bomeny, CEO. “Going forward, we value our shareholders and the desirability to have detailed and transparent information regarding our operations and financial results and will strive to have appropriate governance and reporting. We believe that, among other things, deregistration will enable the management to focus on value enhancing activities and eliminate the significant expenses and time burdens involved with SEC reporting.”
The Company expects the Company’s common stock to continue trading in the U.S. over-the-counter market under the symbol “BOBS.”
About Brazil Fast Food Corp.
Brazil Fast Food Corp. through its holding company in Brazil, BFFC do Brasil Participações Ltda. (“BFFC do Brasil”, formerly 22N Participações Ltda.), and its subsidiaries, manage one of the largest food service groups in Brazil and franchise units in Angola and Chile. The Bob’s trade name is used by Venbo Comércio de Alimentos Ltda., LM Comércio de Alimentos Ltda., PCN Comércio de Alimentos Ltda. and BBS S.A., a 20% owned Chilean Corporation. The “KFC” trade name is used by CFK Comércio de Alimentos Ltda. (formerly Clematis Indústria e Comércio de alimentos e Participações Ltda.), CFK São Paulo Comércio de Alimentos Ltda. and MPSC Comércio de Alimentos Ltda. The “Yoggi” trade name is used by Yoggi do Brasil Ltda. The “Pizza Hut” trade name is used by Internacional Restaurantes do Brasil, a 60% owned Brazilian Corporation. The “Doggis” trade name is used by DGS Comércio de Alimentos S.A., a 80% owned Brazilian Corporation.
Safe Harbor Statement
This press release contains forward-looking statements within the meanings of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known or unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those expressed or implied by such forward looking statements. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the disclosures in the Company's filings with the Securities and Exchange Commission, including the risk factors contained in the Company's most recent annual report on Form 10-K and quarterly report Form 10-Q filed with the Securities and Exchange Commission.

I've been waiting for the bottom also but I'm in now. World Cup coming!!

where is the bottom? looking for an entry point

Expecting 4th qtr results anytime now.

McDonald's fined in Brazil over 'Happy Meal' toys
Foreign 2011-12-07 15:11
SAO PAULO, December 7, 2011 (AFP) - US fast food giant McDonald's has been fined $1.8 million in Brazil over its "Happy Meal" toys, which consumer advocates say encourage bad eating habits in children, state media has reported.

The Foundation for the Protection and Defense of the Consumer in Sao Paulo imposed the fine after a consumer group filed a complaint with it against the global fast food chain.

The group filing the complaint accused McDonald's of "encouraging the formation of distorted values" by using the toys to market meals to children, Agencia Brasil reported Tuesday.

McDonald's can appeal the ruling.

The agency quoted McDonald's as denying any wrongdoing, saying the toys could be purchased separately from the meals.

McDonald's reported better-than-expected profits of $1.51 billion in the third quarter of this year.

Brazil Fast Food Corp. (BFFC), through its wholly owned subsidiary, Venbo Comercio de Alimentos Ltda., a Brazilian limited liability company that conducts business under the trade name "Bob's," owns and, directly and through franchisees, operates a chain of hamburger fast food restaurants in Brazil .

As of December 31, 2001 , BFFC had 265 points of sale, including 36 kiosks and trailers, of which 70 are owned and operated by the Company and the remaining 195 by its franchisees, all under the "Bob's" tradename. Approximately 188 of these points of sale are located in the states of Rio de Janeiro and Sao Paulo, with the remainder widely spread throughout major cities in other parts of Brazil, except for one franchised restaurant that opened in Portugal in November 2001. The largest number of franchised operations outside of Rio de Janeiro and Sao Paulo are in Pernambuco, Santa Catarina, Para , Bahia , Espirito Santo and Brasilia . All points of sale serve a uniform menu of hamburgers, chickenburgers, hot dogs, sandwiches, french fries, soft drinks, juices, desserts and milk shakes. Selected points of sale also serve coffee and/or beer. The Company is particularly known for its milkshakes and the special spicing of its hamburgers. Its target clients are between the ages of 15 and 35 and come from all social groups.

Historically, its points of sale have been distinguishable from other "fast food" operations due to its unique service design, whereby customers would place and pay for their food on one line and pick up their food on another line. Cooks would prepare orders as read to them by the counter service representative who took the order. Its points of sale are generally open all year round, seven days a week. Its prices are consistently positioned at the same levels as those for comparable products offered by its major competitors. The Company attempts to maintain the overall cost of its meals at levels competitive with lunch prices offered by popular street snack bars known as "lanchonetes."

For the past several years, the Company has been the exclusive provider of hamburgers and related items at three of Brazil 's largest special events: the Rio de Janeiro Carnivale, the one-week festive period that precedes the advent of Lent, the Formula One Automobile Racing Championships and the Motorcycle Grand Prix. In addition, its food products are sold at other special events throughout Brazil , including boat fairs, automobile fairs and State rodeos. Using custom constructed trailers and moveable kiosks, the Company is able to offer most of its products at temporary locations for the duration of each special event. In November 2001, its first foreign point of sale was opened in Portugal pursuant to a master franchise agreement, which calls for the opening of a minimum of 30 franchised points of sale in Portugal by 2011.

McDonald's is the Company's primary competitor in the hamburger fast food business in Rio de Janeiro and Sao Paulo . As of December 31, 2001 , Pizza Hut had 62 fast food pizza points of sale in Brazil . Domino's Pizza had 13 points of sale as of December 31, 2001. Habib's, a Middle Eastern fast food chain, had approximately 170 points of sale in Brazil as of December 31, 2001.

International Guild of Hospitality & Restaurant Managers

GOOD LINK, don't know how much to join..
http://fastfood.einnews.com/country/brazil

Brazil Fast Food Announces Third Quarter 2011 Results
Brazil Fast Foods (OTCBB:BOBS)
Today : Tuesday 22 November 2011
Brazil Fast Food Corp. (OTC Bulletin Board: BOBS) (“Brazil Fast Food”, or the “the Company”), the second largest fast-food restaurant chain in Brazil with 846 points of sale, operating under (i) the Bob’s brand, (ii) KFC and Pizza Hut São Paulo as franchisee of Yum! Brands, and (iii) Doggis as franchisee of Grupo de Empresas Doggis S.A., today announced financial results for the third quarter ended September 30, 2011.

Third Quarter 2011 Highlights

•System-wide sales totaled R$236.8 million, up 20.6% from the third quarter 2010
•Revenue totaled R$60.4 million, up 14.9% from the third quarter 2010
•Points of sale totaled 846 at September 30, 2011, up from 742 at the end of third quarter 2010
•EBITDA was R$7.0million, down 36.9% from the third quarter 2010
•Operating income was R$5.5 million, down 41.8% from the third quarter 2010
•Net income was a loss of R$-0.54 million, or R$-0.07 per basic and diluted share, as compared to net income of R$5.3 million, R$0.65 in the third quarter 2010
“We are pleased to report a quarter of double-digit top-line growth driven by the expansion of our Bob’s branded franchise base and solid same-store sales performance and operating efficiencies at our company-owned stores. Year-over-year operating income comparisons reflect the non-recurring gain of R$6 million in Q3 2010 due to the disposition of certain properties and fixed assets. The net loss in the third quarter of 2011 is primarily due to a R$5.6 million non-cash charge resulting from a balance sheet adjustment to our provision for tax loss carry-forwards. We are pleased with the progress of our discussions with the tax authorities and are optimistic we will be able to favorably resolve the R$6.7 in contingent tax liabilities once the facts are carefully reviewed,” said Mr. Ricardo Bomeny, President and CEO of Brazil Fast Food.

“We believe that the very positive trends in revenues and operating income for the first nine months of 2011 confirm that our business is healthy and on track. We are also pleased to note that our strong operating cash flow enabled us to continue to pay down our debt and strengthen our financial position.”

Third Quarter 2011 Results

System-wide sales grew 20.6% in the third quarter to R$236.8 million, driven by an increase in franchised points of sale, which grew by 17.8% to 781 stores in the third quarter of 2011, as well as higher sales from company-owned stores.

Total revenue for the third quarter 2011 increased by 14.9% to R$60.4 million from R$52.6 million in the third quarter 2010. Revenue growth was driven primarily by the continued expansion of Brazil Fast Food’s franchise network and higher sales from company-owned stores.

The Company ended the third quarter of 2011 with 846 points of sale, compared to 742 in the comparable period in 2010.

Net revenue for company-owned and operated outlets was up 18.2% year over year to R$46.0 million in the third quarter of 2011, reflecting an increase in net revenues across the Company’s Bob’s, KFC and Pizza Hut brands, offset somewhat by a decrease in Doggis net revenues.

Net revenue from franchisees increased 24.2% year-over-year to R$8.8 million, driven primarily by an increase in number of franchised retail outlets to 781, up from 663 in the same period a year ago. Revenues from trade partners and other income totaled R$5.6 million in the third quarter of 2011, as compared to R$6.5 million in the third quarter of 2010.

Operating expenses grew 27.4% to R$54.9 million in the third quarter of 2011, primarily due to higher store costs and expenses and the significant decline in the net result of assets sold and impaired, which was a gain of R$0.4 million in the third quarter of 2011, as compared to a net gain of R$6.0 million in the prior year period. As a percentage of revenue, operating costs increased from 82.0% of total revenue in the third quarter of 2010 to 90.9% of total revenue in the third quarter of 2011, mainly attributable to variance in asset sales. Adjusting for this non-recurring item, operating costs continued to decline as a percentage of revenue due to the company’s strategy to limit its direct operations to its most profitable outlets and also due to improved franchise margins.

Operating income for the third quarter of 2011 was R$5.5 million, compared to operating income of R$9.5 million in the third quarter of 2010, primarily due to the non-recurring items noted above. Operating margin in the third quarter of 2011 was 9.1% compared to 18.0% in the same period of 2010.

EBITDA in the third quarter of 2011 was R$7.0 million, compared to R$11.1 million in the third quarter of 2010. EBITDA margin was 11.6% in the third quarter of 2011, compared to 21.1% in the same period of 2010. A table reconciling EBITDA to its nearest GAAP equivalent is provided elsewhere in this press release.

Interest income was R$0.5 million in the third quarter of 2011, compared to interest expense of R$0.3 million in the third quarter of 2010. The higher interest income is attributable to lower debt and higher cash balances during the period.

The Company accrued R$6.1 million in income taxes, on pre-tax income of R$6.0 million in the third quarter of 2011, as compared to R$3.7 million in taxes on R$9.1 million of pre-tax income in the prior year period. As mentioned above, during the third quarter of 2011 the Company recorded a R$5.6 million non-cash deferred income tax expense related to the adjustment in its tax loss carryforward.

Net income for the third quarter of 2011 was a loss of R$-0.54 million, or R$-0.07 per basic and diluted share, compared to net income of R$5.3 million, or R$0.65 per basic and diluted share, in the same period of 2010.

Nine Months 2011 Results

For the nine months ended in September 30, 2011, total net revenue was R$166.3 million, up 10.9% from R$150.0 million in the comparable period of 2010. Operating income was R$14.4 million, up 9.8% from R$13.1 million in the comparable period in 2010. Operating margin was 8.7% for the nine months ended September 30, 2011 compared to 8.8% in the comparable period in 2010. Net income for the nine months ended September 30, 2011 was R$7.0 million, down 5.8% from R$7.4 million in the comparable period in 2010. Basic and diluted earnings per share were R$0.86 for the nine months ended September 30, 2011 compared to R$0.91 for the nine months ended September 30, 2010.

Financial Condition

As of September 30, 2011 the Company had R$23.6 million in cash, up from R$16.7 million as of December 31, 2010. Working capital was R$12.5 million, as compared to a negative R$6.4 million as of the end of 2010. Total shareholders' equity was R$40.0 million at the end of the third quarter of 2011, compared to R$33.2 million at the end of 2010.

Business Outlook

“During the first nine months of 2011, we made solid progress in expanding our higher margin franchise operations, while focusing our company-owned stores on the most profitable outlets and improving the efficiency of operations. Same store sales at our owned restaurants improved by 8.7% for Bob’s, 3.7% for KFC, and 7.8% for Pizza Hut during the nine-month period. Net franchise revenues grew by 22.8% during this period, with franchise operating margins improving to 64.9%, as compared to 57.6% in the first nine months of 2010," said Mr. Ricardo Bomeny, President and CEO of Brazil Fast Food. "We see a continuation of the current favorable business environment in 2011 and expect to benefit from, among other factors, increased spending associated with the build-out to support the World Cup and Olympics to be hosted in 2014 and 2016, respectively," concluded Mr. Bomeny.

About Brazil Fast Food Corp.

Brazil Fast Food Corp. owns and operates, both directly and through franchisees, the second largest fast-food restaurant chain in Brazil. The Bob’s trade name is used by Venbo Comércio de Alimentos Ltda., a subsidiary of Brazil Fast Food holding company, BFFC do Brasil Participações Ltda (formerly 22N Participações Ltda.). The “KFC” trade name is used by CFK Comércio de Alimentos Ltda. (formerly Clematis Indústria e Comércio de alimentos e Participações Ltda.), also a holding company subsidiary. The “Pizza Hut” trade name is used by Internacional Restaurantes do Brasil (“IRB”), also a 60% subsidiary of Brazil Fast Food holding company, BFFC do Brasil Participações Ltda. Recently, Company entered into an agreement with Grupo de Empresas Doggis S.A (“GED”) to cross-franchise the Bob’s and Doggis brands in Chile and Brazil, respectively. Brazil Fast Food will control the Doggis master franchise in Brazil and GED will control the Bob’s master franchise in Chile.

Safe Harbor Statement

This press release contains forward-looking statements within the meanings of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known or unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those expressed or implied by such forward looking statements. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the disclosures in the Company's filings with the Securities and Exchange Commission, including the risk factors contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, filed with the Securities and Exchange Commission on February 16, 2011.


For complete financials-see OTCMARKETS.COM OR BOBS WEBSITE

BOBS SALES UP 19.8% COMPARED TO 2ND QTR 2010
Brazil Fast Food Announces Second Quarter 2011 Results
Date : 08/05/2011 @ 12:53PM
Source : Business Wire
Brazil Fast Foods (OTCBB:BOBS)
Brazil Fast Food Corp. (OTC Bulletin Board: BOBS) (“Brazil Fast Food”, or the “the Company”), the second largest fast-food restaurant chain in Brazil with 805 points of sale, operating under (i) the Bob’s brand, (ii) KFC and Pizza Hut São Paulo as franchisee of Yum! Brands, and (iii) Doggis as franchisee of Grupo de Empresas Doggis S.A., today announced financial results for the second quarter ended June 30, 2011.

Second Quarter 2011 Highlights

•System-wide sales totaled R$207.9 million, up 19.8% from the second quarter 2010
•Revenue totaled R$51.0 million, up 7.6% from the second quarter 2010
•Points of sale totaled 805 at June 30, 2011, up from 735 at the end of second quarter 2010
•EBITDA was R$5.4 million, up 89.7% from the second quarter 2010
•Operating income was R$4.0 million, up 192.1% from the second quarter 2010
•Net income was R$3.3 million, or R$0.41 per basic and diluted share, up 1,197.6% from the second quarter 2010
“We are very pleased to report strong second quarter results, highlighted by significant operating margin improvement and robust net income growth. Our solid performance reflects our strategy to focus on our most profitable company-owned stores while growing our industry leading brands through new franchise relationships in favorable locations throughout Brazil,” said Mr. Ricardo Bomeny, President and CEO of Brazil Fast Food. “The outlook for our business for the second half of the year remains positive and we will continue to invest in our brands in the quarters ahead.”

Second Quarter 2011 Results

System-wide sales grew 19.8% in the second quarter to R$207.9 million, driven by an increase in franchised points of sale as well as higher sales from company-owned stores.

Total revenue for the second quarter 2011 increased by 7.6% to R$51.0 million from R$47.4 million in the second quarter 2010. Revenue growth was driven primarily by the continued expansion of Brazil Fast Food’s franchise network and higher sales from company-owned stores.

The Company ended the second quarter of 2011 with 805 points of sale, compared to 735 in the comparable period in 2010.

Net revenue for company-owned and operated outlets was up 9.0% year over year to R$38.3 million in the second quarter of 2011, reflecting an increase in net revenues across the Company’s KFC and Pizza Hut brands, offset somewhat by a decrease in net revenues for the Company’s Bob’s brand due to a reduction in company-owned Bob’s outlets from 55 as of June 30, 2010, to 39 at the end of second quarter 2011 and also offset somewhat by a decrease in Doggis net revenues.

Net revenue from franchisees increased 29.2% year over year to R$7.8 million, driven primarily by an increase in number of franchised retail outlets to 736, up from 650 in the same period a year ago. Other revenue and income totaled R$4.8 million in the second quarter of 2011.

Operating expenses grew 2.0% to R$46.9 million in the second quarter of 2011, primarily due to higher administrative expenses to support the growth of the business as well as increased store costs and expenses. As a percentage of revenue, operating costs declined from 97.1% of total revenue in the second quarter of 2010 to 92.1% of total revenue in the second quarter of 2011, mainly attributable to the company’s strategy to limit its direct operations to its most profitable outlets and also due to improved franchise margins.

Operating income for the second quarter of 2011 was R$4.0 million, compared to operating income of R$1.4 million in the second quarter of 2010. Operating margin in the second quarter of 2011 was 7.9% compared to 2.9% in the same period of 2010.

EBITDA in the second quarter of 2011 was R$5.4 million, compared to R$2.8 million in the second quarter of 2010. EBITDA margin was 10.5% in the second quarter of 2011, compared to 8.1% in the same period of 2010. A table reconciling EBITDA to its nearest GAAP equivalent is provided elsewhere in this press release.

Interest income was R$0.2 million in the second quarter of 2011, compared to interest expense of R$0.7 million in the second quarter of 2010. The reduction in interest expense is attributable to lower interest rates as well as a reduction in the Company's debt.

Net income for the second quarter of 2011 was R$3.3 million, or R$0.41 per basic and diluted share, compared to net income of R$0.3 million, or R$0.03 per basic and diluted share, in the same period of 2010.

Six Months 2011 Results

For the six months ended in June 30, 2011, total net revenue was R$105.9 million, up 8.7% from R$97.5 million in the comparable period of 2010. Operating income was R$8.9 million, up 142.9% from R$3.7 million in the comparable period in 2010. Operating margin was 8.4% for the six months ended June 30, 2011 compared to 3.8% in the comparable period in 2010. Net income for the six months ended June 30, 2011 was R$7.5 million, up 252.7% from R$2.1 million in the comparable period in 2010. Basic and diluted earnings per share were R$0.93 for the six months ended June 30, 2011 compared to R$0.26 for the six months ended June 30, 2010.

Financial Condition

As of the balance sheet date on June 30, 2011 the Company had R$20.9 million in cash. Total shareholders' equity was R$40.5 million at the end of the second quarter of 2011, compared to R$33.2 million at the end of 2010.

Business Outlook

“Our primary goal in 2011 is to profitably grow and strategically position our leading brands in Brazil, while continuing to improve the efficiency and effectiveness of our existing operations. We also will continue to evaluate the acquisition or development of new brands opportunistically," said Mr. Ricardo Bomeny, President and CEO of Brazil Fast Food. "We see a continuation of the current favorable business environment in 2011 and expect to benefit from, among other factors, increased spending associated with the build-out to support the World Cup and Olympics to be hosted in 2014 and 2016, respectively," concluded Mr. Bomeny.

About Brazil Fast Food Corp.

Brazil Fast Food Corp. owns and operates, both directly and through franchisees, the second largest fast-food restaurant chain in Brazil. The Bob’s trade name is used by Venbo Comércio de Alimentos Ltda., a subsidiary of Brazil Fast Food holding company, BFFC do Brasil Participações Ltda (formerly 22N Participações Ltda.). The “KFC” trade name is used by CFK Comércio de Alimentos Ltda. (formerly Clematis Indústria e Comércio de alimentos e Participações Ltda.), also a holding company subsidiary. The “Pizza Hut” trade name is used by Internacional Restaurantes do Brasil (“IRB”), also a 60% subsidiary of Brazil Fast Food holding company, BFFC do Brasil Participações Ltda. Recently, Company entered into an agreement with Grupo de Empresas Doggis S.A (“GED”) to cross-franchise the Bob’s and Doggis brands in Chile and Brazil, respectively. Brazil Fast Food will control the Doggis master franchise in Brazil and GED will control the Bob’s master franchise in Chile.

Safe Harbor Statement

This press release contains forward-looking statements within the meanings of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known or unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those expressed or implied by such forward looking statements. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the disclosures in the Company's filings with the Securities and Exchange Commission, including the risk factors contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, filed with the Securities and Exchange Commission on February 16, 2011.

BRAZIL FAST FOOD CORP. AND SUBSIDIARIES

Consolidated Statements of Operations (Audited)
(in thousands of Brazilian Reais, except share amounts)

Three Months Ended June 30,
2011 2010

REVENUES
Net Revenues from Own-operated Restaurants R$ 38,322 R$ 35,173
Net Revenues from Franchisees 7,824 6,054
Revenues from Supply Agreements 3,775 5,179
Other Income 1,065 1,000
TOTAL REVENUES 50,986 47,406

OPERATING COST AND EXPENSES
Store Costs and Expenses (35,361 ) (34,010 )
Franchise Costs and Expenses (2,910 ) (3,272 )
Marketing Expenses (376 ) (1,069 )
Administrative Expenses (6,910 ) (5,791 )
Other Operating Expenses (1,363 ) (1,890 )
Net result of assets sold (26 ) 9

TOTAL OPERATING COST AND EXPENSES (46,946 ) (46,023 )


OPERATING INCOME 4,040 1,383

Interest Income (expenses), net 186 (660 )


NET INCOME BEFORE INCOME TAX 4,226 723

Income taxes (600 ) (451 )

NET INCOME BEFORE NON-CONTROLLING INTEREST 3,626 272

Net income attributable to non-controlling interest (330 ) (18 )

NET INCOME ATTRIBUTABLE TO BRAZIL FAST FOOD CORP. R$ 3,296 R$ 254

NET INCOME PER COMMON SHARE
BASIC AND DILUTED R$ 0.41 R$ 0.03


WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING: BASIC AND DILUTED 8,129,437 8,157,902
BRAZIL FAST FOOD CORP. AND SUBSIDIARIES

Consolidated Statements of Operations (Audited)
(in thousands of Brazilian Reais, except share amounts)

Six Months Ended June 30,
2011 2010

REVENUES
Net Revenues from Own-operated Restaurants R$ 78,468 R$ 73,450
Net Revenues from Franchisees 15,434 12,648
Revenues from Supply Agreements 10,567 8,592
Other Income 1,462 2,806
TOTAL REVENUES 105,931 97,496

OPERATING COST AND EXPENSES
Store Costs and Expenses (73,371 ) (71,135 )
Franchise Costs and Expenses (5,478 ) (5,650 )
Marketing Expenses (1,391 ) (2,169 )
Administrative Expenses (13,814 ) (11,947 )
Other Operating Expenses (2,936 ) (2,907 )
Net result of assets sold (28 ) (18 )

TOTAL OPERATING COST AND EXPENSES (97,018 ) (93,826 )

OPERATING INCOME 8,913 3,670

Interest Income (expense), net 142 (1,000 )


NET INCOME BEFORE INCOME TAX 9,055 2,670

Income taxes (1,192 ) (663 )

NET INCOME BEFORE NON-CONTROLLING INTEREST 7,863 2,007

Net (income) loss attributable to non-controlling interest (337 ) 127

NET INCOME ATTRIBUTABLE TO BRAZIL FAST FOOD CORP. R$ 7,526 R$ 2,134

NET INCOME PER COMMON SHARE
BASIC AND DILUTED R$ 0.93 R$ 0.26


WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING: BASIC AND DILUTED 8,132,012 8,137,762

Note: as of June 30, 2011 the US dollar was quoted at R$1.56

BRAZIL FAST FOOD CORP. AND SUBSIDIARIES
RECONCILIATION OF EBITDA TO NET INCOME

EBITDA represents earnings before net interest expense, income tax provision, depreciation and amortization. Our management believes EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties in evaluating companies in our industry. In addition, our management believes that EBITDA is useful in evaluating our operating performance compared to that of other companies in our industry because the calculation of EBITDA generally eliminates the effects of financing and income taxes and the accounting effects of capital spending, which items may vary for different companies for reasons unrelated to overall operating performance. As a result, our management uses EBITDA as a measure to evaluate the performance of our business. However, EBITDA is not a recognized measurement under generally accepted accounting principles, or GAAP, and when analyzing our operating performance, investors should use EBITDA in addition to, and not as an alternative for, income from operations and net income, each as determined in accordance with GAAP. Not all companies use identical calculations, and our presentation of EBITDA may not be comparable to similarly titled measures of other companies. Furthermore, EBITDA is not intended to be a measure of free cash flow for our management’s discretionary use, as it does not consider certain cash requirements such as a tax and debt service payments.
(in thousands of Brazilian Reais) Three Months Ended June 30,
2011 2010
NET INCOME (LOSS) R$
3,296
R$
254

Interest expenses, Monetary and Foreign exchange loss (186 ) 660
Income taxes 600 451
Depreciation and amortization - Stores 1,505 1,320
Depreciation - Headquarters 161 149
EBITDA R$
5,376
R$
2,834

BRAZIL FAST FOOD CORP. AND SUBSIDIARIES

Consolidated Balance Sheet (Audited)
(in thousands of Brazilian Reais, except share amounts)

June 30, December 31,
2011 2010

ASSETS
CURRENT ASSETS:
Cash and cash equivalents R$ 20,927 R$ 16,742
Inventories 3,781 3,454
Accounts receivable
Clients 7,804 8,285
Franchisees 8,672 9,483
Allowance for doubtful accounts (899 ) (1,838 )
Prepaid expenses 2,221 1,350
Advances to suppliers 2,779 2,426
Receivables from properties sale 3,633 3,633
Other current assets 5,031 4,249

TOTAL CURRENT ASSETS 53,949 47,784

Other receivables and other assets 14,617 16,258


Deferred tax asset, net 11,842 11,992

Goodwill 799 799

Property and equipment, net 29,263 29,862

Deferred charges, net 5,424 5,866

TOTAL ASSETS R$ 115,894 R$ 112,561

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:
Notes payable R$ 9,463 R$ 12,972
Accounts payable and accrued expenses 21,002 25,848
Payroll and related accruals 8,059 6,571
Taxes 3,210 4,936
Current portion of deferred income tax 1,105 1,190
Current portion of deferred income 2,201 993
Current portion of contingencies and reassessed taxes
1,530 1,580
Other current liabilities 76 79

TOTAL CURRENT LIABILITIES 46,646 54,169

Deferred income, less current portion 5,698 2,702

Deferred income tax 763 1,262

NOTES PAYABLE, less current portion 879 1,107

CONTINGENCIES AND REASSESSED TAXES, less
current portion 19,262 19,251


TOTAL LIABILITIES 73,248 78,491

SHAREHOLDERS’ EQUITY:


Preferred stock, $.01 par value, 5,000 shares authorized;

no shares issued
- -




Common stock, $.0001 par value, 12,500,000 shares

authorized; 8,472,927 and 8,472,927 shares

issued; 8,129,437 and 8,137,762 shares outstanding
1 1
Additional paid-in capital 61,148 61,148
Treasury Stock (343,490 and 335,165 shares) (2,065 ) (1,946 )
Accumulated Deficit (17,420 ) (24,946 )
Accumulated comprehensive loss (1,130 ) (1,091 )

TOTAL SHAREHOLDERS’ EQUITY 40,534 33,166
Non-Controlling Interest 2,112 904

TOTAL EQUITY 42,646 34,070

TOTAL LIABILITIES AND EQUITY R$ 115,894 R$ 112,561
BRAZIL FAST FOOD CORP. AND SUBSIDIARIES

Consolidated Statements of Cash Flows (Audited)

(in thousands of Brazilian Reais)


Six Months Ended June, 30
2011 2010
CASH FLOW FROM OPERATING ACTIVITIES:
NET INCOME ATTRIBUTABLE TO BRAZIL FAST FOOD CORP. R$ 7,863 R$ 2,007
Adjustments to reconcile net income to cash provided by
(used in) operating activities:

Depreciation and amortization 3,445 3,084
Loss on assets sold, net 28 18
Deferred tax (434) -

Changes in assets and liabilities:
(Increase) decrease in:
Accounts receivable 353 316
Inventories (327) 1,520
Prepaid expenses, advances to suppliers and other current assets (1,224) (2,600)
Other assets 859 (1,206)
(Decrease) increase in:
Accounts payable and accrued expenses (4,846) 2,349
Payroll and related accruals 1,488 2,545
Taxes other than income taxes (1,726) 293
Deferred income 4,204 (979)
Contingencies and reassessed taxes (39) 635
Other liabilities (3) (70)

CASH FLOWS PROVIDED BY OPERATING ACTIVITIES 9,641 7,912

CASH FLOW FROM INVESTING ACTIVITIES:
Additions to property and equipment (2,556) (4,139)
Proceeds from sale of property, equipment and deferred charges 2,104 -

CASH FLOWS USED IN INVESTING ACTIVITIES (452) (4,139)

CASH FLOW FROM FINANCING ACTIVITIES:
Acquisition of Company's own shares (119) -
Net Repayments under lines of credit (4,846) (1,648)

CASH FLOWS USED IN FINANCING ACTIVITIES (4,965) (1,648)

EFFECT OF FOREIGN EXCHANGE RATE (39) 18

NET INCREASE IN CASH AND CASH EQUIVALENTS 4,185 2,143

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 16,742 13,250

CASH AND CASH EQUIVALENTS AT END OF PERIOD R$ 20,927 R$ 15,393

looks like a good time to add to my position, I LOVE this stock

IMO , MOVE FROM OB TO DOW OR NAZ

why do u think it is going to change soon

1.Held by Insiders1: 61.72% , held tight not much turn over
2. Held by Institutions1: 0.10% , held tight not much turn over
3.An OB Stock, Not DOW OR NAZ
4. Under the radar, but this is about to change.

i agree but why?and why no volume?

With the olympics coming and EPS of 1.04 , and a P/E of
12.80 bobs is way under valued . 20 times earning = 20.04.
With EPS coming in better this year = 40.00
Way under valued here people

Please keep on subject about BOBS , i dont want tom start deleating posts thanks.

Your always right. I wish I was as knowledgable about stocks as you!!!!!!!!!! Lmao

shouldn't you be saving your posts for your little stinky pink?

Your right I'm wrong.Riiiiiight!!!!! LMAO

oh yeah? so, how much are you down at this point? I am up quite a bit on BOBS and sleep well knowing I don't have to check this board every tick, every day, unlike a toy cigarette stock that just keeps going down...

Good call blade. For every penny it goes up I make a little over $40,000. Your right it is a toy cigarette with its own patent and the only true vaporless ecig in the world. Your right I must be an IDIOT to keep this stock. It only went up over 50% Friday!!!!!!!!!!!!!!!!

This stock will be at its lowest level in 2 months. You have got to be kidding me.

topdog52's full post:
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come again? you were on the wrong board, me thinks you was talking about some POS toy cigarette stock, THAT ONE is down to its lowest level, THIS one keeps making new highs, just thought you should know...ROTFL

Well said

topdog must be smarter than BOBS insiders...

% of Shares Held by All Insider and 5% Owners: 62%
% of Shares Held by Institutional & Mutual Fund Owners: 0%
% of Float Held by Institutional & Mutual Fund Owners: 0%
Number of Institutions Holding Shares: 1

Major Direct Holders (Forms 3 & 4)
Holder Shares Reported
FONSECA ROMULO BORGES 2,636,532 Mar 11, 2011
BOMENY JOSE RICARDO BOUSQUET 1,373,540 Mar 9, 2011
ALPHA CENTAURI VENTURES, INC. 83,950 Feb 10, 2010

Insider Transactions Reported - Last Two Years
Date Insider Shares Type Transaction Value*
Mar 11, 2011 FONSECA ROMULO BORGESBeneficial Owner (10% or more) 5,019 Direct Purchase at $8.56 per share. 42,962
Mar 11, 2011 FONSECA ROMULO BORGESBeneficial Owner (10% or more) 175,000 Indirect Purchase at $9 per share. 1,575,000
Mar 9, 2011 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 12,500 Indirect Purchase at $9 per share. 112,500
Mar 8, 2011 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 41,000 Indirect Purchase at $9 per share. 369,000
Mar 4, 2011 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 14,000 Indirect Purchase at $8.69 per share. 121,660
Mar 1, 2011 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 6,500 Indirect Purchase at $8.60 per share. 55,900
Feb 18, 2011 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 5,000 Indirect Purchase at $8.45 per share. 42,250
Dec 2, 2010 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 10,575 Indirect Purchase at $8.25 per share. 87,243
Nov 30, 2010 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 6,300 Indirect Purchase at $7.95 per share. 50,085
Nov 29, 2010 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 1,825 Indirect Purchase at $7.94 per share. 14,490
Nov 24, 2010 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 1,300 Indirect Purchase at $7.90 per share. 10,270
Nov 23, 2010 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 10,000 Indirect Purchase at $7.95 per share. 79,500
Aug 30, 2010 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 7,250 Indirect Purchase at $7 per share. 50,750
Aug 27, 2010 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 4,100 Indirect Purchase at $6.97 per share. 28,577
Aug 24, 2010 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 3,500 Indirect Purchase at $6.70 per share. 23,450
Aug 18, 2010 BOMENY JOSE RICARDO BOUSQUETBeneficial Owner (10% or more) 500 Indirect Purchase at $6.75 per share. 3,375
Feb 10, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 11,000 Direct Purchase at $4.75 per share. 52,250
Feb 9, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 7,500 Direct Purchase at $4.80 per share. 36,000
Feb 8, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 7,500 Direct Purchase at $4.78 per share. 35,850
Feb 4, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 10,000 Direct Purchase at $4.78 per share. 47,800
Feb 3, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 3,480 Direct Purchase at $4.85 per share. 16,878
Feb 2, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 11,520 Direct Purchase at $4.79 - $4.8 per share. 55,0002
Feb 1, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 5,000 Direct Purchase at $4.85 per share. 24,250
Jan 29, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 1,500 Direct Purchase at $4.82 per share. 7,230
Jan 28, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 6,450 Direct Purchase at $4.79 per share. 30,895
Jan 27, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 4,050 Direct Purchase at $4.83 per share. 19,561
Jan 26, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 1,000 Direct Purchase at $4.85 per share. 4,850
Jan 25, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 3,000 Direct Purchase at $4.85 per share. 14,549
Jan 22, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 10,650 Direct Purchase at $4.85 - $4.94 per share. 52,0002
Jan 20, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 1,000 Direct Purchase at $4.95 per share. 4,950
Jan 19, 2010 ALPHA CENTAURI VENTURES, INC.Beneficial Owner (10% or more) 300 Direct Purchase at $4.95 per share. 1,485
Jan 15, 2010 BOMENY JOSE RICARDO BOUSQUETDirector 2,000 Direct Purchase at $4.90 per share. 9,800
Jan 14, 2010 BOMENY JOSE RICARDO BOUSQUETDirector 500 Direct Purchase at $4.95 per share. 2,475
Jan 13, 2010 BOMENY JOSE RICARDO BOUSQUETDirector 100 Direct Purchase at $4.85 per share. 484
Jan 12, 2010 BOMENY JOSE RICARDO BOUSQUETDirector 320 Direct Purchase at $4.85 per share. 1,552
Jan 11, 2010 BOMENY JOSE RICARDO BOUSQUETDirector 1,000 Direct Purchase at $4.90 per share. 4,900
Jan 8, 2010 BOMENY JOSE RICARDO BOUSQUETDirector 1,500 Direct Purchase at $4.81 per share. 7,215
Jan 7, 2010 BOMENY JOSE RICARDO BOUSQUETDirector 500 Direct Purchase at $4.90 per share. 2,450
Jan 6, 2010 BOMENY JOSE RICARDO BOUSQUETDirector 932 Direct Purchase at $4.87 per share. 4,538
Jan 5, 2010 BOMENY JOSE RICARDO BOUSQUETDirector 2,000 Direct Purchase at $5 per share. 10,000
Jun 19, 2009 FONSECA ROMULO BORGESOfficer 1,118 Direct Purchase at $3.04 per share. 3,398

he don't get it... he is angry that he holds a bag in some toy cigarette stock that keeps going down, been telling him and his minions for over a year, that stock of his is down -99% in the past year and this one has doubled... sucks to be stupid, I'll keep adding and holding BOBS and we will see where we are at another year from now... LMAO

Do your DD , and find out what the float is,how much is owned by institutions, ETC.Then stop complaining that the price has go up so much, and enjoy the ride.Put a large order to sell your shares and they will be bought up.Don't you get it no one will sell their shares and insiders buying everyday.

Who are you posting to yourself? I can not believe that you have only gotten this Brazilian hamburger Kiosk company only up to $12 a share selling it back and forth to yourself. You talk about a scam company. We got one here!!! With the average volume a day at 2000 shares it would take a person 3 years to sell his stock. LMAO

Anything under 11.00 dollars is a buy

No were to go but up up

No stopping us now 10.00 just around the corner

Can't private message you,so i will post it here for a day or two check out W2Energy i have been it a long time.They are expanding and have made a little money and IMO they are about to turn the corner.I haven't told you about them because they weren't at the tipping point. Ticker WTWO below is some DD that i have complied, this is not a flipper but a long term hold like BOBS.
W2 energy and their many facets.
1. ETHANOL PLAY. http://w2energy.com/main/pages/technology/plant-overview.php
2. WASTE TO ENERGY "Municipal solid waste - Agricultural waste - Human and animal waste - Tires and plastics - Medical waste"
3. CARBON CREDIT PLAYhttp://w2energy.com/main
4. SOLAR PLAY-Free Drive EV, Inc, http://w2energy.com/main/pages/business-units/free-drive-ev-inc..php
5. HYDRO PLAY -"SEGS" submerged systems for rapids and tidal streams
systems for existing mill and storage dams.
6. ORGANIC FERTILIZER PLAY
7. WATER TO ENERGY PLAY-Hydrokinetics Laboratory "Simply put, for whatever diameter of underwater turbine that is applicable for any given current, a HyPEG at the same depth (and with the same ‘profile’ area to match) will produce 25 times more watts and do it at ½ the cost per watt, but not kill the fish swimming around it."http://us.lrd.yahoo.com/_ylt=AoHtYmuPt0nURZA5Om9Pp9Wtcq9_;_ylu=X3oDMTE2YTBlMDNyBHBvcwMzBHNlYwNuZXdzYXJzdGFydARzbGsDd3d3aGtsYWJsbGNj/SIG=10t9bs5a7/**http%3A//www.hklabllc.com/
8. DIRT COAL TO ENERGY PLAY
9. ELECTRICITY PLAY
10. JET FUEL PLAY
11. DIESEL FUEL PLAY
12. GASOLINE PLAY
13. LIQUID FUEL PLAY
14. RTN MACHINING PLAY- COMING SOON
15. Omega 3 and 6 oils for the VITAMIN industry PLAY
16 STEAM TO ENERGY PLAY-W2 Energy’s SteamRay engine is a true rotary engine that converts energy, at very high efficiency, from steam or fuel combustion into a rotary force. http://w2energy.com/main/pages/technology/steam-ray-engine.php
17. W2 SOLAR PLAY-W2 Solar has developed several proprietary technologies which will allow the highest efficiency and lowest cost in converting solar energy to heat, steam and electricity.

The SunCatcher parabolic solar collector gathers all the available sunlight and focuses it on a central vacuum tube. One side of the vacuum tube is covered with light absorbing material, which converts the solar energy into heat. A vacuum layer between an inner and an outer layer of glass traps nearly 100% of that heat inside of the tube.

The heat inside the vacuum tube is transferred to the hot water loop via a pipe filled with heat transfer fluid inside of each vacuum tube.

The hot water inside the loop is pressurized and heated to approximately 400 degrees Fahrenheit. This pressurized hot water runs through a heat exchanger where it flashes steam.

That steam powers the The SteamRay steam engine. It is a rotary engine which makes the most efficient use of the steam power by eliminating the frictional losses associated with piston-design steam engines.

The SteamRay generates AC power, which travels to the power conditioning unit, which makes sure that the power conforms to utility specifications.

The wet steam exits the SteamRay and gives up most of its remaining heat to another heat exchanger, which can be used to make hot water for a building or a factory.

If the customer does not require any hot water, the wet steam is sent back to the heat exchanger where it is again flashed into higher temperature dry steam, and then recycled back into the SteamRay.http://w2energy.com/main/pages/business-units/w2-solar-inc..php
18. DONE EFFICIENTLY, AND MANY OF THEIR TECHNOLOGIES CAN BE INTEGRATED TO BECOME EVEN MORE EFFICIENT.
19. THIS IS ONLY THE TIP OF THE ICEBERG, MUCH MORE TO COME
20. All this for under a penny.
21. PROVEN TECHNOLOGY.W2 Energy Inc. announced that it has become a research affiliate of the Arizona Research Institute for Solar Energy (AzRISE). AzRISE is a global institute at the University of Arizona in Tucson whose mission is to transform science into large and small-scale solar energy solutions that are demonstrable and can transform individual lives. W2 Energy will be shipping one of the Solar Bug solar-electric vehicles to AzRISE. AzRISE will test the Solar Bug and provide 3rd party certification of its operation and efficiency.
22. TECHNOLOGY: ENDORSEMENT.http://www.hklabllc.com/tech_endorsement.cfm
23. FORBES INTERVIEW-http://video.forbes.com/fvn/breakout/a-landfill-eliminator
24. SMART GRID PLAY
25. biobutanol PLAY
GUELPH, ON--(Marketwire - 02/24/11) - W2 Energy, Inc., a clean energy company (www.w2energy.com) (Pinksheets:WTWO - News), is pleased to announce that it has begun construction on a biobutanol reactor.

8.80 and 9.00 dollars is just around the corner.We will see 9.00 dollars sooner then you think

bobs file Q report
http://biz.yahoo.com/e/110211/bobs.ob10-q_a.html

I think its time for the next leg up

nice volume today

BOOM their you good 52 week high.
52wk Range: 4.20 - 8.25

I think its time to buy more shares

AGREED

Time to BUY before next leg up

you have been told numerous time to abide by the TOU... buh bye...

more like a volume of $40,000, multiplication 101- 5000 shares X $8.00= $40,000 in case you did not already know that, but then you only look at share price when entering a stock right? the lower the price the more shares you can have? that is how you look at it isn't it? fyi, stock price is not as relevant to me as is stock price action. I couldn't care less if you can have 20000% more shares of a POS trading at .004 if the stock does nothing but go down, heck you can't even short a turd trading that low...

the goal is to have your stock go up if you are long, the share price is irrelevant... dollar volume is however, relevant

I removed your post, but decided, what the heck, reinstate it and state the obvious... again, a complete moron could have made money here so far, but then a complete moron would stay away from this stock and buy as many shares of a .004 turd who's chart is pointing in the opposite direction and hope for the best...

Hey richard head you can't be serious about this. A volume of 5000. WOW!! How about the one you pumped up and now they are losing thier a$$ on.

8.00, looks like you're wrong again! LMAO

People please know the rules before posting , no attacking each other , no vulgarity , ect. I will delete posts that are not following the rules. Assistants you too most follow these rules , THANK YOU