TGIF. No not the restaurant but the day of the week! Terror alert up, unemployment up, volatility up. Anyhow, found this one this morning. Don't know much about it personally....and do not own any shares of this issue.
According to Morningstar, Red Robing Gourmet Burgers, Inc., "is a chain of 184 casual restaurants, 87 of which are company owned and 97 of which are franchised". Sounds a little like the old Fuddruckers chain (anybody been in one of those lately?).
The stock is grilling up pretty nicely today (sorry).
Currently (10:15 am Central), stock is at $17.00 up $1.17 or 7.39% on the day. Yesterday they reported the first quarter of 2003 (reported 5/22/03), per the New York Times website, "Total Company revenues increased 17.3% to $92.9 million, Company-owned comparable restaurant sales (sort of like retail same store sales figures)...up 2.1%," and reported that per share income unchanged at about $.23.
Annual revenue figures show steady increases from $115.7 million in 1997, 118.2 million in 1998, $130 million in 1999, $189.2 million in 2000 and $224.5 million in 2001, and $249.2 million in trailing twelve months per Morningstar.
Balance sheet wise we find a bit too much debt on this issue to make me very excited and per Morningstar is not yet cash flow positive....so looking closely, a possible purchase....but for my picks....not one of the top choices on this page.
Good luck investing....will see if we can find a better one later today! Bob