Flanigan's Reports Earnings

PR Newswire 15-Feb-2018 9:25 AM

FORT LAUDERDALE, Fla., Feb. 15, 2018 /PRNewswire/ --FLANIGAN'S ENTERPRISES, INC., (NYSE AMERICAN: BDL) owners and operators of the "Flanigan's Seafood Bar and Grill" restaurants and "Big Daddy's" retail liquor stores, announced results for the 13 weeks endedDecember 30, 2017 with the 13 weeks ended December 31, 2016.

For the 13 weeks

For the 13 weeks

ended December 30

ended December 31,

2017

2016

REVENUES

RESTAURANT FOOD ANDBAR SALES

$ 22,756,000

$ 21,285,000

PACKAGE STORE SALES

5,013,000

4,678,000

FRANCHISE RELATED REVENUES

380,000

378,000

RENTAL INCOME

157,000

159,000

OWNER'S FEE

38,000

38,000

OTHER OPERATING INCOME

49,000

56,000

TOTAL REVENUES

$ 28,393,000

$ 26,594,000

NETINCOME ATTRIBUTABLE

TO FLANIGAN'S ENTERPRISES, INC

$ 621,000*

$ 664,000

NET INCOMEPER COMMON SHARE

BASIC AND DILUTED

$ .33

$ .36

*On December 22, 2017 the Tax Cuts and Jobs Act ("The Act") was signed into law, reducing the corporate income tax rate to 21%. Consequently, we have recorded a decrease of approximately $268,000 to our net deferred tax asset, with a corresponding adjustment to deferred income tax expense for the thirteen weeks ended December 30, 2017.

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SOURCE Flanigan's Enterprises, Inc.

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