WEST FARGO, ND / ACCESSWIRE / August 16, 2022 / BT Brands, Inc. (Nasdaq:BTBD)(Nasdaq:BTBDW), operator of Burger Time, Keegan's Seafood Grille, and Pie in the Sky Coffee and Bakery, today reported financial results for the fiscal second quarter ended July 3, 2022.
Key highlights of the Company's financial results include:
- Total Revenues increased 47.9% to $3.5 million for the quarter compared to the prior year's quarter and increased 29.5% to $5.6 million year-to-date compared to the previous year period
- Completed acquisition of Pie in the Sky Coffee and Bakery located in Woods Hole, Massachusetts entering the dynamic retail coffee and breakfast market with a major tourist-driven location
- The Company ended the quarter with $8.3 million in cash on hand
- Acquired 41.2% of Bagger Dave's Burger Tavern, Inc. operator of six Bagger Dave's restaurants
- Same Store Sales for company-owned Burger Time restaurants decreased 12.4% for the quarter compared to the prior year quarter and declined 10.5% year-to-date compared to the prior year period
- Net loss was $49,625 for the quarter, and the net loss was $92,275 year-to-date
Gary Copperud, the Company's Chief Executive Officer, said, "Our results this quarter reflect the positive contribution of our recent acquisitions offset by a decline in revenues at Burger time as dining activities returned to more closely resemble the pre-pandemic. The Company also faced inflationary pressures on both costs of sales and labor wage rates. I'm excited about all three of our recent restaurant acquisitions, which we expect will exceed our target returns and contribute to a doubling of sales for fiscal 2022 compared to 2021.
Fiscal 2022 Outlook: Because of the uncertain nature of the performance of recent acquisitions and the evolving character of our Company and because of continuing uncertainty surrounding public health concerns and the aftermath, impacts of supply chain constraints, and the current inflationary environment, the Company is not, at this point, providing a financial forecast for fiscal 2022.
About BT Brands Inc.: BT Brands, Inc. (Nasdaq: BTBD BTBDW) BT Brands owns and operates thirteen restaurants, including nine Burger Time restaurants in the North Central region of the United States, a Dairy Queen fast-food franchised location in suburban Minneapolis, Minnesota. The Company owns Keegan's Seafood Grille, a dine-in restaurant near Clearwater, Florida, and Pie In The Sky Coffee and Bakery, a casual dining coffee shop and bakery located in Woods Hole, Massachusetts. Our Burger Time restaurants feature a variety of burgers and other affordable foods, sides, and soft drinks. Keegan's Seafood Grille has operated in Indian Rocks Beach, Florida, for more than thirty-five years and offers a variety of traditional fresh seafood items for lunch and dinner. The menu at Keegan's includes beer and wine. Pie In The Sky features an array of fresh baked goods, freshly made sandwiches, and our locally roasted coffee. Our revenues are derived from food and beverages at our restaurants; retail goods such as apparel, private-labeled "Keegan's Hot Sauce," and other souvenir items account for an insignificant portion of our income. Following the end of the quarter, we acquired the Village Bier Garten located in Cocoa, Florida.
Forward-Looking Statements Disclaimer: This press release contains forward-looking statements within the meaning of federal securities laws. The words "intend," "may," "believe," "will," "should," "anticipate," "expect," "seek," and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, which may cause the Company's actual results to differ materially from results expressed or implied by the forward-looking statements. Such risks and uncertainties include, among other things, the market price of the Company's stock prevailing from time to time, the nature of other investment opportunities presented to the Company, the Company's financial performance, and its cash flows from operations, general economic conditions, which could adversely affect the Company's results of operations and cash flows. These risks also include such factors as the disruption to our business from public health issues, including the coronavirus pandemic and its impact on our operations, which may vary depending on the duration and extent of the effects of governmental actions and customer behavior in response, the impact and duration of staffing constraints at our restaurants, the impact of supply chain constraints and the current inflationary environment, the uncertain nature of current restaurant development plans and the ability to implement those plans and integrate new restaurants, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, and other matters discussed under the Risk Factors section of BT Brands Annual Report on Form 10-K for the fiscal year ended March 17, 2022, filed with the SEC, and other filings with the SEC. BT Brands disclaims any obligation or duty to update or modify these forward-looking statements.
Category: Financial
BT BRANDS, INC. AND SUBSIDIARIES
FINANCIAL TABLES FOLLOW:
BT BRANDS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
| | 26 Weeks Ended | | | 26 Weeks Ended, | | | 13 Weeks Ended, | | | 13 Weeks Ended, | |
| | July 3, 2022 | | | July 4, 2021 | | | July 3, 2022 | | | July 4, 2021 | |
SALES | | $ | 5,598,076 | | | $ | 4,323,555 | | | $ | 3,524,881 | | | $ | 2,382,683 | |
COSTS AND EXPENSES | | | | | | | | | | | | | | | | |
Restaurant operating expenses | | | | | | | | | | | | | | | | |
Food and paper costs | | | 2,032,956 | | | | 1,636,053 | | | | 1,311,373 | | | | 908,760 | |
Labor costs | | | 1,786,828 | | | | 1,186,719 | | | | 1,179,118 | | | | 621,227 | |
Occupancy costs | | | 435,920 | | | | 303,654 | | | | 261,282 | | | | 167,106 | |
Other operating expenses | | | 332,181 | | | | 252,081 | | | | 212,314 | | | | 128,872 | |
Depreciation and amortization expenses | | | 178,701 | | | | 113,394 | | | | 109,286 | | | | 58,558 | |
General and administrative expenses | | | 746,717 | | | | 220,982 | | | | 455,656 | | | | 110,983 | |
Total costs and expenses | | | 5,513,303 | | | | 3,712,883 | | | | 3,529,029 | | | | 1,995,506 | |
Income from operations | | | 84,773 | | | | 610,672 | | | | (4,148 | ) | | | 387,177 | |
UNREALIZED LOSS ON MARKETABLE SECURITIES | | | (80,238 | ) | | | - | | | | (80,238 | ) | | | - | |
INTEREST AND OTHER INCOME | | | 9,473 | | | | - | | | | 9,473 | | | | - | |
INTEREST EXPENSE | | | (54,461 | ) | | | (128,232 | ) | | | (26,190 | ) | | | (89,661 | ) |
EQUITY IN NET LOSS OF AFFILIATE | | | (14,172 | ) | | | - | | | | (14,172 | ) | | | - | |
INCOME (LOSS) BEFORE TAXES | | | (54,625 | ) | | | 482,440 | | | | (115,275 | ) | | | 297,516 | |
INCOME TAX (EXPENSE) BENEFIT | | | 5,000 | | | | (135,000 | ) | | | 23,000 | | | | (85,000 | ) |
NET INCOME (LOSS) | | $ | (49,625 | ) | | $ | 347,440 | | | $ | (92,275 | ) | | $ | 212,516 | |
NET INCOME (LOSS) PER COMMON SHARE - Basic and Diluted | | $ | (0.01 | ) | | $ | 0.09 | | | $ | (0.01 | ) | | $ | 0.05 | |
WEIGHTED AVERAGE SHARES | | | 6,458,276 | | | | 4,047,502 | | | | 6,461,118 | | | | 4,047,502 | |
BT BRANDS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
| | July 3, 2022 (Unaudited) | | | January 2, 2022 | |
ASSETS | | | | | | |
CURRENT ASSETS | | | | | | |
Cash | | $ | 8,295,952 | | | $ | 12,385,632 | |
Marketable securities | | | 527,750 | | | | - | |
Receivables | | | 36,058 | | | | 72,251 | |
Inventory | | | 146,892 | | | | 79,510 | |
Prepaid expenses and other current assets | | | 53,460 | | | | 27,186 | |
Total current assets | | | 9,060,112 | | | | 12,564,579 | |
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET | | | 2,977,153 | | | | 1,592,338 | |
OPERATING LEASES RIGHT-OF-USE ASSETS | | | 1,146,167 | | | | - | |
INVESTMENTS | | | 1,549,828 | | | | 75,000 | |
GOODWILL | | | 488,431 | | | | - | |
INTANGIBLE ASSETS | | | 425,000 | | | | - | |
OTHER ASSETS, net | | | 285,285 | | | | 273,810 | |
Total assets | | $ | 15,931,986 | | | $ | 14,505,727 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | | | |
CURRENT LIABILITIES | | | | | | | | |
Accounts payable | | $ | 498,257 | | | $ | 291,973 | |
Current maturities of long-term debt | | | 171,358 | | | | 169,908 | |
Current operating lease obligations | | | 134,188 | | | | - | |
Accrued expenses | | | 575,790 | | | | 254,341 | |
Income taxes payable | | | 8,000 | | | | 209,088 | |
Total current liabilities | | | 1,387,593 | | | | 925,310 | |
LONG-TERM DEBT, LESS CURRENT PORTION | | | 2,750,279 | | | | 2,833,064 | |
NONCURRENT LEASE OBLIGATIONS | | | 1,015,610 | | | | - | |
DEFERRED INCOME TAXES | | | 51,510 | | | | 119,000 | |
Total liabilities | | | 5,204,992 | | | | 3,877,374 | |
COMMITMENTS AND CONTINGENCIES | | | | | | | | |
SHAREHOLDERS' EQUITY | | | | | | | | |
6,447,506 shares issued and outstanding at July 3, 2022 | | | | | | | | |
and January 2, 2022, respectively | | | 12,922 | | | | 12,895 | |
Additional paid-in capital | | | - | | | | 11,363,935 | |
Accumulated deficit | | | (649,863 | ) | | | (600,238 | ) |
Total shareholders' equity | | | (10,726,994 | ) | | | 10,628,353 | |
Total liabilities and shareholders' equity | | $ | 15,931,986 | | | $ | 14,505,727 | |
SOURCE: BT Brands, Inc.
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ニュージャージー州シファゴ/2022年8月16日ハンバーガータイム、キーゲン海鮮バーベキュー、スカイコーヒーとパン屋を運営する英電気通信ブランド会社(ナスダックコード:BTBD)は本日、2022年7月3日までの第2期財務業績を発表した。
同社の財務業績の主なハイライトは以下の通り
- 昨年同期と比べ、この四半期の総収入は47.9%増加し、350万ドルに達し、年初から現在まで、総収入は29.5%増加し、560万ドルに達した
- マサチューセッツ州ウッズホールにあるPie in the Skyコーヒーと焙煎店の買収を完了し、活力あふれるコーヒーと朝食小売市場に進出し、主な観光客駆動型の位置を持っている
- 同社は当四半期末に830万ドルの現金を持ち合わせている
- Bagger Dave‘s Burger Tivern社の41.2%を買収し、Bagger Dave’sレストランを6社経営しています
- 昨年同期と比較して、同社が所有するBurger Timeレストランの同店売上高は12.4%減少し、前年同期に比べて10.5%減少した
- この四半期の純損失は49,625ドルで、年初から現在までの純損失は92,275ドルだった
同社のゲイリー·コペルダー最高経営責任者は“当社の今季の業績は、ハンバーガー時間の収入の低下によって相殺された最近の買収の積極的な貢献を反映している。飲食活動が大流行前の水準に戻っているからだ。会社は販売コストと労働力賃金のインフレ圧力にも直面している。私は最近買収した3つのレストランすべてに興奮しており、これらの買収は私たちの目標リターンを超え、2022年度の売上高に2021年より2倍に貢献すると予想している。
2022年度展望:最近の買収業績の不確実性とわが社の発展の特徴、および公共健康問題とその結果、サプライチェーン制限をめぐる影響と現在のインフレ環境の持続的な不確実性のため、会社は現在2022年度の財務予測を提供していない。
BT Brands Inc.について:BT Brands,Inc.(ナスダックコード:BTBD BDBDW)BT Brandsは,米国中北部地域のBurger Timeレストラン9軒,ミネソタ州ミネアポリス市郊外のDary Queenファーストフードフランチャイズ店を含む13のレストランを所有して経営している。同社はフロリダ州クリールウォルトの近くにあるKeegan‘s Seafood Grilleレストランとマサチューセッツ州ウッズホールにあるPie in the Sky Coffee and Bakeryを所有しており、カジュアルな食事カフェやパン屋です。私たちのハンバーガー時間レストランは各種のハンバーガーと他の手頃な食べ物、おかずとソフトドリンクを提供します。Keegan‘s Seafood Grilleはフロリダ州のインディアナビーチで35年以上経営しており、昼食と夕食は様々な伝統的な新鮮な海鮮を提供します。Keegan‘sのメニューはビールとワインが含まれています。空のパイは一連の新鮮な焙煎した食べ物、新鮮に作ったサンドイッチと私たちの現地で焼いたコーヒーを提供します。私たちの収入はレストランの食品と飲み物から来ています。服装、プライベートブランドの“キゲンソース”と他の記念品などの小売商品は私たちの収入の中でほんの一部しか占めていません。今季が終わった後、私たちはフロリダ州ココにあるビル村花園を買収した。
前向きな声明免責声明:このプレスリリースは連邦証券法に適合した展望的な陳述を含む。“意図”、“可能”、“信じる”、“将”、“すべき”、“期待”、“期待”、“求める”および同様の表現は、前向き陳述を識別することを目的としている。これらの陳述は既知と未知のリスクに関連しており、会社の実際の結果は前向き陳述における明示的または暗示的な結果とは大きく異なる可能性がある。これらのリスクと不確定要因には、会社株の市場価格、会社が直面している他の投資機会の性質、会社の財務業績とその運営キャッシュフロー、全体的な経済状況が含まれており、これらは会社の運営結果やキャッシュフローに悪影響を及ぼす可能性がある。これらのリスクはまた、コロナウイルスの大流行及び私たちの運営に対する影響を含む公衆衛生問題の妨害を含み、これらの要素は異なる可能性があり、具体的には政府行動と顧客行動対応の影響の持続時間と程度に依存し、私たちのレストラン人員制限の影響と持続時間、サプライチェーン制限と現在のインフレ環境の影響、現在のレストラン発展計画とこれらの計画を実施し、新しいレストランの能力を統合する不確定性は、天気、現地許可或いはその他の原因で新しいレストランの開発と開業が遅れ、競争が激化し、生食品コストが増加或いは不足している。並びに米国証券取引委員会に提出された2022年3月17日現在の会計年度10−K表におけるリスク要因の部分的に議論されている他の事項、及び米国証券取引委員会に提出された他の書類で議論されている他の事項。BT Brandsはこのような前向きな陳述を更新または修正する義務または義務を負わない。
カテゴリ:金融
イギリスの電気通信ブランド会社そして付属会社
財務表は以下の通りである
イギリスの電気通信ブランド会社そして付属会社
簡明合併損益表
(未監査)
| | 26週間終了 | | | 26週間が経ちました | | | 13週間が経ちました | | | 13週間が経ちました | |
| | 七月三日 2022 | | | 七月四日 2021 | | | 七月三日 2022 | | | 七月四日 2021 | |
同前の商品 | | $ | 5,598,076 | | | $ | 4,323,555 | | | $ | 3,524,881 | | | $ | 2,382,683 | |
コストと支出 | | | | | | | | | | | | | | | | |
レストラン経営費 | | | | | | | | | | | | | | | | |
食品と紙のコスト | | | 2,032,956 | | | | 1,636,053 | | | | 1,311,373 | | | | 908,760 | |
人工コスト | | | 1,786,828 | | | | 1,186,719 | | | | 1,179,118 | | | | 621,227 | |
入居費 | | | 435,920 | | | | 303,654 | | | | 261,282 | | | | 167,106 | |
その他の運営費 | | | 332,181 | | | | 252,081 | | | | 212,314 | | | | 128,872 | |
減価償却および償却費用 | | | 178,701 | | | | 113,394 | | | | 109,286 | | | | 58,558 | |
一般と行政費用 | | | 746,717 | | | | 220,982 | | | | 455,656 | | | | 110,983 | |
総コストと費用 | | | 5,513,303 | | | | 3,712,883 | | | | 3,529,029 | | | | 1,995,506 | |
営業収入 | | | 84,773 | | | | 610,672 | | | | (4,148 | ) | | | 387,177 | |
有価証券は赤字を実現していない | | | (80,238 | ) | | | - | | | | (80,238 | ) | | | - | |
利子とその他の収入 | | | 9,473 | | | | - | | | | 9,473 | | | | - | |
利子支出 | | | (54,461 | ) | | | (128,232 | ) | | | (26,190 | ) | | | (89,661 | ) |
関連会社の純損失中の権益 | | | (14,172 | ) | | | - | | | | (14,172 | ) | | | - | |
税引き前収益 | | | (54,625 | ) | | | 482,440 | | | | (115,275 | ) | | | 297,516 | |
所得税給付 | | | 5,000 | | | | (135,000 | ) | | | 23,000 | | | | (85,000 | ) |
純収益(赤字) | | $ | (49,625 | ) | | $ | 347,440 | | | $ | (92,275 | ) | | $ | 212,516 | |
普通株1株当たり純収益(損失)−基本収益と希釈後収益− | | $ | (0.01 | ) | | $ | 0.09 | | | $ | (0.01 | ) | | $ | 0.05 | |
加重平均株 | | | 6,458,276 | | | | 4,047,502 | | | | 6,461,118 | | | | 4,047,502 | |
イギリスの電気通信ブランド会社そして付属会社
合併貸借対照表
| | 七月三日 2022 (未監査) | | | 1月2日 2022 | |
資産 | | | | | | |
流動資産 | | | | | | |
現金 | | $ | 8,295,952 | | | $ | 12,385,632 | |
有価証券 | | | 527,750 | | | | - | |
売掛金 | | | 36,058 | | | | 72,251 | |
在庫品 | | | 146,892 | | | | 79,510 | |
前払い費用と他の流動資産 | | | 53,460 | | | | 27,186 | |
流動資産総額 | | | 9,060,112 | | | | 12,564,579 | |
財産、設備、レンタルの改善、純額 | | | 2,977,153 | | | | 1,592,338 | |
経営的リース使用権資産 | | | 1,146,167 | | | | - | |
投資する | | | 1,549,828 | | | | 75,000 | |
商誉 | | | 488,431 | | | | - | |
無形資産 | | | 425,000 | | | | - | |
その他の資産、純額 | | | 285,285 | | | | 273,810 | |
総資産 | | $ | 15,931,986 | | | $ | 14,505,727 | |
負債と株主権益 | | | | | | | | |
流動負債 | | | | | | | | |
売掛金 | | $ | 498,257 | | | $ | 291,973 | |
長期債務当期満期日 | | | 171,358 | | | | 169,908 | |
当期経営リース債務 | | | 134,188 | | | | - | |
費用を計算する | | | 575,790 | | | | 254,341 | |
所得税に対処する | | | 8,000 | | | | 209,088 | |
流動負債総額 | | | 1,387,593 | | | | 925,310 | |
長期債務、流動部分を減らす | | | 2,750,279 | | | | 2,833,064 | |
非流動賃貸債務 | | | 1,015,610 | | | | - | |
所得税を繰延する | | | 51,510 | | | | 119,000 | |
総負債 | | | 5,204,992 | | | | 3,877,374 | |
引受金とその他の事項 | | | | | | | | |
株主権益 | | | | | | | | |
2022年7月3日現在発行·発行済み株6,447,506株 | | | | | | | | |
2022年1月2日 | | | 12,922 | | | | 12,895 | |
追加実収資本 | | | - | | | | 11,363,935 | |
赤字を累計する | | | (649,863 | ) | | | (600,238 | ) |
株主権益総額 | | | (10,726,994 | ) | | | 10,628,353 | |
総負債と株主権益 | | $ | 15,931,986 | | | $ | 14,505,727 | |
出所:イギリス電気通信ブランド会社
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