Good Times Restaurants Inc., operator of Good Times Burgers & Frozen Custard and Bad Daddy's Burger Bar, announced its financial results for the fourth fiscal quarter and fiscal year ended Sept. 30.
- Same-store sales for company-owned restaurants increased 18.2 percent for the quarter and 11.9 percent for the fiscal year, including an 8.5 percent sales mix from the new breakfast daypart during the quarter, which was the 13th consecutive quarter of increasing same-store sales;
- Restaurant Level Operating Profit increased 49 percent or $316,000 over last year during the quarter; and
- The restaurant level operating margin increased by 190 basis points from last year during the quarter.
"Our sales trends continue to significantly exceed our industry peers, with most of the increase coming from increased transactions which is fueling the acceleration of the profitability of our core business in Good Times," Boyd Hoback, president and CEO, said in a news release. "We anticipate that our cash flow from operations from Good Times in fiscal 2014 will be significantly higher than in fiscal 2013, including further acceleration in the first quarter of fiscal 2014 based on our current run rate and trends."
The company also anticipates several multiunit development agreements for Bad Daddy's signed in early 2014.
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