Ruth's Hospitality Group (NASDAQ: RUTH) reported Q1 EPS of $0.45, $0.02 better than the analyst estimate of $0.43. Revenue for the quarter came in at $110.4 million versus the consensus estimate of $115.87 million.

Highlights for the first quarter of 2018 were as follows:

• Restaurant sales in the first quarter of 2018 increased 11.0% to $110.4 million compared to $99.5 million in the first quarter of 2017.
• The Company reported net income of $13.6 million, or $0.45 per diluted share, in the first quarter of 2018, compared to net income of $11.0 million, or $0.35 per diluted share, in the first quarter of 2017.
  • Income from continuing operations in the first quarter of 2018 was $13.6 million, or $0.45 per diluted share, compared to income from continuing operations of $11.1 million, or $0.35 per diluted share, in the first quarter of 2017.
  • Net income in the first quarter of 2018 included a $0.4 million income tax benefit, while net income in the first quarter of 2017 included a $0.2 million income tax benefit, both related to the impact of discrete income tax items.
  • Net income in the first quarter of 2018 also included $0.5 million in deal-related expenses associated with the acquisition of our Hawaiian franchisee.
  • Excluding these adjustments, as well as the results from discontinued operations, non-GAAP diluted earnings per common share were $0.45 in the first quarter of 2018, compared to $0.35 in the first quarter of 2017. The Company believes that non-GAAPdiluted earnings per common share provides a useful alternative measure of financial performance. Investors are advised to see the attached Reconciliation of non-GAAP Financial Measure table for additional information.

For earnings history and earnings-related data on Ruth's Hospitality Group (RUTH) click here.