Bravo Brio Restaurant (BBRG) Misses Q3 EPS by 4c; Announces $50M Modified 'Dutch Auction' Tender

Bravo Brio Restaurant (NASDAQ: BBRG) reported Q3 EPS of $0.06, $0.04 worse than the analyst estimate of $0.10. Revenue for the quarter came in at $94.6 million versus the consensus estimate of $94.8 million.

Comparable restaurant sales decreased 6.7% at BRAVO! and 5.2% at BRIO.

Modified "Dutch Auction" Tender Offer

The Company expects to seek to purchase up to $50 million of its common shares through a modified "Dutch auction" tender offer that it expects to commence on or about November 12, 2014. The anticipated modified "Dutch auction" tender offer would be financed from borrowings under a new, five-year $100 million senior secured credit facility.

Under the terms of the anticipated tender offer, BBRG's shareholders would have the opportunity to tender some or all of their shares at a price per share of not less than $12.50 and not greater than $14.50. The terms and conditions of the anticipated tender offer will be described in an Offer to Purchase and the related Letter of Transmittal that will be distributed to shareholders upon commencement of the tender offer.

For earnings history and earnings-related data on Bravo Brio Restaurant (BBRG) click here.

You May Also Be Interested In

• North American Construction (NOA) Tops Q2 EPS by 9c; Offers Guidance
• Stantec (STN) Tops Q2 EPS by 47c
• Lumexa Imaging Holdings, Inc. (LMRI) Reports In-Line Q2 EPS; Offers Guidance