Brinker International Inc. reported a 37.8-percent decrease in net income for the June 25-ended fourth quarter, which included about $39.5 million in charges for litigation reserves, the company said Thurdsay.

The Dallas-based parent of the Chili's Grill & Bar and Maggiano's Little Italy restaurants reported net income of $28.82 million, or 43 cents per share, for the quarter, falling from $46.37 million, or 64 cents a share, in the prior-year period.

The litigation reserves were largely for potential settlements related to meal period and rest break class action rulings in California, the company said.

Brinker International has 1,615 casual-dining restaurants, with 1,569 Chili’s locations and 46 Maggiano’s units.
 

4Q NET INCOME

Result: $28.8 million, 43 cents per share
% Decrease: 37.8% (from $46.4 million, or 64 cents per share)

4Q REVENUE

Result: $758.7 million
% Increase: 3.9% (from $730.1 million)

4Q SAME-STORE SALES

% Increase systemwide: 1.9%


% Increase at company-owned Chili's: 2.5%


% Increase at franchised Chili's: 1.2%


% Increase at Maggiano's: 0.9%


Source: Company report



FULL YEAR NET INCOME

Result: $154 million, $2.26 cents per share
% Decrease: 5.7% (from $163.4 million, or $2.20 cents per share)

FULL YEAR REVENUE

Result: $2.9 billion
% Increase: 2.1% (from $2.8 billion)

FULL YEAR SAME-STORE SALES

% Increase systemwide: 0.5%


% Increase at company-owned Chili's: 0.6%


% Increase at franchised Chili's: 0.2%


% Increase at Maggiano's: 0.6%


Source: Company report



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Contact Ron Ruggless at ronald.ruggless@penton.com.
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