PRESS RELEASE

 

FOR:               FLANIGAN'S ENTERPRISES, INC.

 

FROM:           JAMES G. FLANIGAN, CHAIRMAN OF THE BOARD

(954) 377-1961

 

FOR IMMEDIATE RELEASE

 

FLANIGAN'S REPORTS 3RD QUARTER EARNINGS

 

FORT LAUDERDALE, FLORIDA,  August 18, 2010 -  FLANIGAN'S ENTERPRISES, INC., (NYSE Alternext US: BDL) owners and operators of the "Flanigan's Seafood Bar and Grill" restaurants and "Big Daddy's" retail liquor stores, today announced results for the 13 weeks and the 39 weeks ended July 3, 2010.  The table below sets  forth the results on a comparative  basis  with  the 13 weeks and 39 weeks ended June 27, 2009. 

 

For the 13 weeks          For the 13 weeks

 ended July 3,                 ended June 27,

     2010 ________                  2009______                 

REVENUES

 

RESTAURANT FOOD AND

BAR SALES                                                   $  14,111,000                $ 13,189,000

PACKAGE STORE SALES                                            2,963,000                     2,925,000

FRANCHISE RELATED REVENUES                              220,000                        298,000

OWNER'S FEE                                                                      42,000                         40,000

OTHER OPERATING INCOME                                        38,000                          39,000      

 ------------------             ------------------

TOTAL REVENUES                                                 $ 17,374,000                $  16,491,000

 ==========                         ===========

 

NET INCOME ATTRIBUTABLE TO                    $       426,000                $      311,000(1)

FLANIGANšS ENTERPRISES, INC.                        ===========             ===========

 

NET INCOME PER COMMON SHARE

Basic EPS                                                        $            0.23                 $            0.17

============          ===========

Diluted EPS                                                    $             0.23                 $           0.17

============          ===========

 

 

 

 

 

PRESS RELEASE – August 18, 2010                                                            Page two

 

 

                                                                                                                                               

 

              For the 39 weeks      For the 39 weeks

                ended July                    ended June

                  3, 2010                        27, 2009____ 

RESTAURANT FOOD AND

BAR SALES                                                   $  42,335,000                $  39,628,000

PACKAGE STORE SALES                                          10,151,000                       9,788,000

FRANCHISE RELATED REVENUES                              756,000                         842,000

OWNER'S FEE                                                                    125,000                          129,000

OTHER OPERATING INCOME                                     109,000                          114,000

             ------------------               ------------------

TOTAL REVENUES                                                  $  53,476,000                  $ 50,501,000

             ===========              ==========

 

NET INCOME ATTRIBUTABLE TO                     $    1,384,000                 $    1,167,000(2)(3)    

FLANIGANšS ENTERPRISES, INC                          ============             ============

 

NET INCOME PER COMMON SHARE

 

  Basic EPS                                                        $             0.74                 $           0.62

  ============             ==========

 

  Diluted EPS                                                   $              0.74                  $          0.62

 =============            ===========

 

(1)  Includes $18,000 adjustment to deferred tax asset.

(2)  Includes $140,000 adjustment to deferred tax asset.

(3)  Includes after tax gain of $106,000 from payment of balance of claim in liquidation proceedings of former insurance company plus interest.