2/11/98 from joseph flanigan, chairman of the board (954)974-9003.
Flanigan's enterprises, inc. owners and operators of the "Flanigan's Seafood Bar and Grill" restaurants and "Big Daddy's retail liquor stores, today announced record results for the 13 weeks ended december 27, 1997. The package goods market has stabilized and the company has experienced improved package goods sales, particularly of wine. The table below sets forth the results on a comparative basis for the first quarter with the 13 weeks ended december 28, 1996.
for the 13 weeks for the 13 weeks
Revenues- ended dec.,27,1997 ended dec., 28,1996
Restaurant food and
beverage revenues $3,130,000 $3,034,000
Package goods revenues $1,990,000 $1,773,000
Franchise related revenue 159,000 132,000
other operating income 161,000 113,000
Total revenues $5,440,000 $5,052,000
NET PROFIT $282,000 (1) $201,000 (2)
Net Income per share
basic eps $.31 $.22
diluted eps $.28 $.20
(1) includes $110,000 from the settlement of litigation
(2) includes $150,000 from the sale of rights to manage a franchise.
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