Dave & Buster's Entertainment (NASDAQ: PLAY) reported Q4 EPS of $0.75, $0.12 better than the analyst estimate of $0.63. Revenue for the quarter came in at $331.8 million versus the consensus estimate of $323.29 million.

• Total revenues increased 8.8% to $331.8 million from $304.9 million, or 15.7% on a comparable 13-week basis*
• Opened three new stores compared to five new stores
• Comparable store sales increased 2.9% (comparable 13-week basis)
• Net income of $29.4 million, or $0.75 per diluted share, vs. net income of $35.6 million, or $0.85 per diluted share. Net income for the fourth quarter of 2017 exclusive of the beneficial impact of certain tax adjustments related to tax reform** and an additional week in the quarter* was $27.3 million, or $0.66 per diluted share
• EBITDA increased 1.9% to $72.1 million from $70.8 million, or 5.6% on a comparable 13-week basis
• Adjusted EBITDA decreased 2.8% to $80.2 million from $82.5 million, but increased 1.2% on a comparable 13-week basis
• Launched Dragonfrost, our proprietary virtual reality title, in December
• Repurchased 1.3 million shares for $63.0 million and paid a quarterly cash dividend of $0.15 per share

“We are pleased to finish the year on a strong note. On a comparable week basis, we drove double-digit revenue growth in Q4 as comparable store sales increased 2.9% and new store performance remained strong. 2018 was another year of record sales and EBITDA, and looking ahead to 2019, we are well positioned to deliver new revenue and EBITDA highs, and reinforce our leadership position in the combined entertainment and dining space,” said Brian Jenkins, Chief Executive Officer.

“We remain focused on driving shareholder value by continuing to invest in new store growth, executing on our share repurchase program, and paying a quarterly cash dividend. We are excited our Board has authorized to expand our share repurchase program by another $200 million,” said Joe DeProspero, Interim Chief Financial Officer.

GUIDANCE:

Dave & Buster's Entertainment sees FY2019 revenue of $1.37-1.4 billion, versus the consensus of $1.26 billion.

• Comparable store sales of Flat to +1.5%
• 15 to 16 new stores
• Net income of $105 million to $117 million
• Effective tax rate of 22.0% to 22.5% and diluted share count of approximately 37 million shares
• EBITDA of $285 million to $300 million
• Total capital additions (net of tenant improvement allowances and other landlord payments) of $190 million to $200 million

For earnings history and earnings-related data on Dave & Buster's Entertainment (PLAY) click here.