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


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