BJ's Restaurants Q4 Profit Matches Estimates - Quick Facts

(RTTNews) - BJ's Restaurants, Inc. (BJRI) reported that its fourth-quarter net income decreased to $504 thousand or $0.02 per share, from $6.99 million or $0.24 per share, last year. Non-GAAP adjusted net income was $1.68 million or $0.06 per share, for the quarter.

The company said its results for fourth quarter 2013 include pre-tax charges totaling approximately $3.9 million, or $0.11 per share, related to a non-cash impairment charge for one of its restaurants, a Texas Alcoholic Beverage Commission settlement related to beer model, the estimated cost to settle a California sales tax audit, and employee severance charges. These charges were partially offset by a tax benefit of approximately $2.1 million, or $0.07 net income per share, resulting from lower than expected pre-tax earnings for the full year, and the charges recorded in the fourth quarter.

On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.06 for the quarter. Analysts' estimates typically exclude special items.

Revenues were $199.77 million, compared to $184.80 million, prior year. Analysts expected revenue of $199.70 million for the quarter. Comparable restaurant sales decreased 2.7%.