"We are continuing to develop Chili's as fast as wecan," says Brinker President & CEO Doug Brooks, pointout that the concept provides 60% of the company'sprofits and more than 70% of its revenues. "It is ourintention to increase the number of developed storeseach year."
Currently, Brinker owns, operates or has franchised1,023 Chili's restaurants. During the second quarter2005, the owner and operator signed franchiseeagreements for the purchase of 17 stores and received franchisee commitments to develop more than 50 restaurants by 2011.
Of the Brinker concepts, Chili's was not the bestperformer during the quarter. Comparable store salesincreased 6.4% at On The Border Mexican Grill &Cantina and 5.8% at Maggiano's Little Italy. Overall,the company reported revenues for the second quarter2005 of $950.8 million, an increase of 7.3% comparedwith $886.5 million reported for the same period infiscal 2004.
Brinker COO Todd Diener expressed both pleasure andsurprise at the results. Net income, for example, was$41.4 million for the quarter. That number includesrestructure charges primarily associated with thedisposition of Big Bowl Asian Kitchen. Excluding thecharges, net income was $44.2 million.
The company expects third quarter revenue growth of 6%to 8% and comparable store sales growth of 1% to 3%.
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