Restaurant Equipment Articles : Meritage Hospitality Reports Preliminary 2013 Fiscal Results
Sales increased 39.2% to $137.8 million (a new record high for the Company), compared to $99.0 million last year.
Meritage Hospitality Reports Preliminary 2013 Fiscal Results
Sales increased 39.2% to $137.8 million (a new record high for the Company), compared to $99.0 million last year.
Meritage Hospitality Group Inc. (OTCQX: MHGU), one of the nation's premier restaurant operators, yesterday reported preliminary financial results for the 2013 fiscal year ended December 30, 2013.
2013 Full-Year Highlights
- Sales increased 39.2% to $137.8 million (a new record high for the Company), compared to $99.0 million last year.
- Income Before Taxes increased 108% to $4.3 million compared to $2.1 million last year.
- Net Income was $3.1 million compared to $2.9 million last year (last year included non-recurring income tax benefits of $1.6 million).
- Consolidated EBITDA (a non-GAAP measure) increased 58.0% to $8.4 million, compared to $5.3 million last year.
- The Company developed or acquired seven additional restaurants during the year, finishing 2013 with 119&nbs
Restaurant Equipment Articles : Meritage Hospitality Reports Preliminary 2013 Fiscal Results
Sales increased 39.2% to $137.8 million (a new record high for the Company), compared to $99.0 million last year.
Meritage Hospitality Reports Preliminary 2013 Fiscal Results
Sales increased 39.2% to $137.8 million (a new record high for the Company), compared to $99.0 million last year.
Meritage Hospitality Group Inc. (OTCQX: MHGU), one of the nation's premier restaurant operators, yesterday reported preliminary financial results for the 2013 fiscal year ended December 30, 2013.
2013 Full-Year Highlights
- Sales increased 39.2% to $137.8 million (a new record high for the Company), compared to $99.0 million last year.
- Income Before Taxes increased 108% to $4.3 million compared to $2.1 million last year.
- Net Income was $3.1 million compared to $2.9 million last year (last year included non-recurring income tax benefits of $1.6 million).
- Consolidated EBITDA (a non-GAAP measure) increased 58.0% to $8.4 million, compared to $5.3 million last year.
- The Company developed or acquired seven additional restaurants during the year, finishing 2013 with 119&nbs