Chanticleer (HOTR) Reports Q1 Loss of $0.08 on Revenues of $9.9M

Chanticleer (NASDAQ: HOTR) reported Q1 EPS of ($0.08). Revenue for the quarter came in at $9.9 million, versus $0 reported last year.

• Total revenue for the first quarter decreased 2.5% to $9.9 million from $10.1 million in the prior year, primarily due to unusually inclement weather in Oregon and Washington state which caused store closures and decreased traffic during January and February. The prior year also benefited approximately $0.1 million from BGR franchise deals that did not recur in the current quarter.
• Cost of sales as a percentage of restaurant sales was 33.1%, consistent with the comparable quarter last year.
• General and administrative expenses as a percentage of total revenue improved to 14.0% from 16.6% in the comparable quarter last year.
• Operating loss from continuing operations was $1.0 million compared to $0.9 million in the comparable quarter last year.
• Net loss attributable to Common Shareholders was $1.8 million, ($0.08) per share, compared to $1.4 million, $(0.07) per share in the comparable quarter last year.
• Restaurant EBITDA was $0.9 million compared to $1.1 million for the comparable quarter of last year.
• Adjusted EBITDA was a loss of $288 thousand compared to a loss of $230 thousand in the comparable quarter last year.
• During the quarter, the Company opened one new Little Big Burger in Portland, and expects to open 8 to 12 new stores during 2017.

For earnings history and earnings-related data on Chanticleer (HOTR) click here.

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