Brinker Intern On a GAAP basis, earnings per diluted share increased 20.7 percent to $1.11 compared to $0.92 for the fourth quarter of fiscal 2015.
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On a GAAP basis, earnings per diluted share increased 12.1 percent to $3.42 compared to $3.05 for the full year fiscal 2015.
Earnings per diluted share, excluding special items, increased 31.9 percent to $1.24 compared to $0.94 for the fourth quarter of fiscal 2015. Earnings per diluted share, excluding special items, increased 14.9 percent to $3.55 compared to $3.09 for the full year fiscal 2015.
Brinker International total fourth quarter revenues increased 15.4 percent to $881.7 million compared to the fourth quarter of fiscal 2015 and company sales increased 15.8 percent to $855.4 million compared to the fourth quarter of fiscal 2015.
This is primarily attributable to the 103 restaurants acquired with the Pepper Dining transaction in the first quarter of fiscal 2016 as well as the additional operating week in the fourth quarter of fiscal 2016
Chili's franchise fourth quarter comparable restaurant sales decreased 3.4 percent, which includes a 2.1 percent and 5.5 percent decrease for U.S. and international franchise restaurants, respectively.
Restaurant operating margin, as a percent of company sales, declined approximately 20 basis points to 18.3 percent compared to 18.5 percent for the fourth quarter of fiscal 2015.
For fiscal 2016, cash flows provided by operating activities were $394.7 million and capital expenditures totaled $112.8 million. Free cash flow3 was approximately $281.9 million.
The company repurchased approximately 0.4 million shares of its common stock for $18.7 million in the fourth quarter and a total of approximately 5.8 million shares for $284.9 million year-to-date.
The company declared a dividend of 32 cents per share which was paid on June 30, 2016, representing a 14.3 percent increase over the prior year.
The company plans to increase leverage in the range of $250 to $300 million in the near term subject to market conditions and use the proceeds to return capital to shareholders in the form of share repurchases.
The company's Board of Directors authorized an additional $150 million in share repurchases which brings the total available authority to $455 million. ■