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IRG > SEC Filings for IRG > Form 8-K on 26-Mar-2013All Recent SEC Filings

Show all filings for IGNITE RESTAURANT GROUP, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for IGNITE RESTAURANT GROUP, INC.


26-Mar-2013

Results of Operations and Financial Condition


Item 2.02. Results of Operations and Financial Condition.

This Current Report on Form 8-K includes supplemental data regarding the Company's previously announced change in quarterly accounting periods. The Company intends to adjust its quarterly reporting calendar beginning with the first quarter of fiscal 2013 to four 13-week operating quarters. Previously, the Company's first three quarters of the fiscal year consisted of 12 weeks and the fourth quarter consisted of 16 weeks. The fiscal year will continue to end on the Monday nearest to December 31st. The tables below show supplemental data for fiscal year 2012 as reported and reflecting the change that will take effect beginning with the first quarter of 2013 as if 2012 had been reported under the revised calendar.

As Reported (unaudited)



                                   Twelve         Twelve        Twelve        Sixteen       Fifty-Two
                                    Weeks         Weeks          Weeks         Weeks          Weeks
                                    Ended         Ended          Ended         Ended          Ended
                                  March 26,      June 18,      September      December      December
                                    2012           2012        10, 2012       31, 2012      31, 2012

Revenue (in millions)            $     103.4    $    119.9    $     129.2    $    112.6    $     465.1

Restaurants opened during the
period                                     3             5              2             1             11
Number of restaurants open
(end of period):
Joe's Crab Shack                         122           127            129           129            129
Brick House Tavern + Tap                  16            16             16            15             15
Total restaurants                        138           143            145           144            144
Average weekly sales (in
thousands)                       $        63    $       71    $        75    $       49    $        63
Restaurant operating weeks             1,638         1,683          1,727         2,319          7,367

Comparable Restaurant Data:
Comparable restaurant base
(end of period)                          118           120            122           123            123
Comparable restaurant sales
percentage change                        5.3 %         3.0 %          0.4 %         0.8 %          2.2 %

Reflecting the New Reporting Calendar (unaudited)



                                  Thirteen      Thirteen      Thirteen       Thirteen      Fifty-Two
                                   Weeks         Weeks          Weeks         Weeks          Weeks
                                   Ended         Ended          Ended         Ended          Ended
                                  April 2,      July 2,      October 1,      December      December
                                    2012          2012          2012         31, 2012      31, 2012

Revenue (in millions)            $    113.1    $    132.9    $     130.2    $     88.9    $     465.1

Restaurants opened during the
period                                    4             4              2             1             11
Number of restaurants open
(end of period):
Joe's Crab Shack                        123           127            129           129            129
Brick House Tavern + Tap                 16            16             16            15             15
Total restaurants                       139           143            145           144            144
Average weekly sales (in
thousands)                       $       64    $       73    $        69    $       47    $        63
Restaurant operating weeks            1,777         1,830          1,876         1,884          7,367

Comparable Restaurant Data:
Comparable restaurant base
(end of period)                         119           122            123           123            123
Comparable restaurant sales
percentage change                       5.2 %         2.0 %          0.5 %         1.4 %          2.2 %


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