The combination of lower costs and higher revenue pushed Buffalo Wild Wings, Inc. (NASDAQ:BWLD) to a higher profit first quarter. Buffalo Wild Wings, Inc. is an owner, operator and franchiser of restaurants featuring a variety of boldly-flavored, cravable menu items.
Buffalo Wild Wings Earnings Cheat Sheet for the First Quarter
Results: Net income for the restaurant rose to $14.9 million (81 cents/share) vs. $10.6 million (57 cents/share) in the same quarter a year earlier. A rise of 40.7% from the year earlier quarter.
Revenue: Rose 19.6% to $182.2 million YoY.
Quoting Management: Sally Smith, President and Chief Executive Officer, commented, “We are very pleased with another successful quarter for Buffalo Wild Wings. Our fast-paced unit growth continued across the country and our same-store sales were strong throughout the first quarter, with increases of 3.9% at company-owned restaurants and 1.6% at franchised locations.”
The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 15%, with the biggest boost coming in the most recent quarter when revenue rose 19.6% from the year earlier quarter.
The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 22% and in the third quarter of the last fiscal year, the figure rose 23.7%.
Competitors to Watch: Ark Restaurants Corp. (NASDAQ:ARKR), Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB), Landry’s Restaurants, Inc (LNY), O’Charley’s Inc. (NASDAQ:CHUX), Brinker Intl., Inc. (NYSE:EAT), Flanigan’s Enterprises, Inc. (AMEX:BDL), California Pizza Kitchen, Inc. (NASDAQ:CPKI), Kona Grill, Inc. (NASDAQ:KONA), BJ’s Restaurants, Inc. (NASDAQ:BJRI), and J. Alexander’s Corporation (NASDAQ:JAX).
Today’s Performance: Shares of BWLD are trading at $62.4 as of April 26, 2011 at 4:28 PM ET, up 3% from the previous closing price of $60.25.