LOUISVILLE Ky. Texas Roadhouse Inc., operator or franchisor of 251 namesake dinnerhouses, recorded a 24.3-percent surge in fourth-quarter profit from a year earlier, on revenues that jumped 29.7 percent aided by same-store sales increases and the opening of 10 new units during the quarter.
For the 13 weeks ended Dec. 26, Texas Roadhouse earned $7.8 million, or 10 cents per share, versus $6.3 million, or 9 cents per share, in the year-earlier, 13-week period. Revenues totaled $152.6 million. Fourth quarter same-store sales increased 3.3 percent from a year earlier at corporate restaurants and rose 3.5 percent at franchised restaurants.
For the full year, the company posted profit of $34 million, or 44 cents per share, compared with profit of $30.3 million, or 42 cents per share, in fiscal 2005. Latest-year revenues rose 30.2 percent to $597.1 million. Full-year same-store sales increased 3.5 percent at corporate restaurants and 2.7 percent at franchised units.
The company said its sales momentum had continued into the first weeks of the current fiscal 2007, as same-store sales were up 1.3 percent for the six weeks ended Feb. 6. Texas Roadhouse said its current-year targets include the openings of 28 to 30 corporate restaurants and two to four franchised units, and same-store sales growth of at least 3 percent. Per-share profit is expected to increase at least 20 percent from fiscal 2006 to 53 cents, the company reported.