Chanticleer Holdings Announces Third Quarter Preliminary Net Restaurant Revenue of $9 Million
CHARLOTTE, NC -- (Marketwired) -- 10/13/14 -- Chanticleer Holdings, Inc. (NASDAQ: HOTR) (Chanticleer Holdings, or the "Company"), owner and operater of multiple restaurant brands internationally and domestically, announced today record preliminary net restaurant revenue for Q3 2014 of approximately $9 million, compared to $1.58 million in Q3 2013, an increase of approximately 470%. Quarter-over-quarter growth was approximately a 32% increase from Q2 2014 of $6.82 million. The increase in net revenue is a result of our recent acquisitions, including 60% ownership of two existing Hooters restaurants in Penrith and Parramatta purchased on July 1, 2014, and the acquisition of The Burger Company in Charlotte, NC on September 9, 2014. The Company also opened Australia's fourth Hooters location in Surfers Paradise, Queensland in the middle of July. Our restaurants continue to perform quarter-over-quarter led by the Just Fresh concept, which the Company acquired a majority stake in late 2013, had same store sales growth of approximately 15% and 19% for the three and nine months ended September 30, 2014, respectively, compared to the same period a year ago.
As of September 30, 2014, the Company had 26 restaurant locations including (11) Hooters internationally, (2) Hooters in Oregon and Washington, (6) Just Fresh, (5) American Roadside Burgers, (1) The Burger Company and (1) Spoon Bar & Kitchen in the U.S.
Mike Pruitt, Chairman and Chief Executive Officer, commented, "We are excited about the continued growth in our quarterly restaurant revenue. Milestones are being achieved building shareholder value and we will maintain our focus in growing profitably, accretive acquisitions and initiating a franchising program for Just Fresh and American Roadside Burger in international and domestic markets."
The Company intends to file its Quarterly Report on Form 10-Q by the required filing date, and such report will include further details about the Company's third quarter financial performance.
About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer Holdings (HOTR), together with its subsidiaries, owns and operates restaurant brands in the United States and internationally. The Company is a franchisee owner of Hooters® restaurants in international markets including Australia, England, South Africa, Hungary, and Brazil, and recently acquired two Hooters restaurants in the United States. The Company also owns and operates American Roadside Burgers, Spoon Bar & Kitchen and owns a majority interest in Just Fresh restaurants in the U.S.
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Forward-Looking Statements:
Any statements that are not historical facts contained in this release are "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, changes in costs of labor and food prices, intensive competition in our industry and competition with national, regional chains and independent restaurant operators, the performance of management and our employees, our ability to obtain financing or required licenses, competition, and the fact that we do not have full operational control over the businesses of our franchise partners.. These and other risks and uncertainties, which are described in more detail in the Company's most recent Annual Report on Form 10-K and other reports and statements filed with the United States Securities and Exchange Commission, are difficult to predict, involve uncertainties that may materially affect actual results and may be beyond the Company's control, and could cause actual results, performance or achievements to be materially different from those expressed or implied by any of these forward-looking statements. New factors emerge from time to time, and it is not possible for management to predict all such factors or to assess the impact of each such factor on the Company. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
Press Information:
Chanticleer Holdings, Inc.
Investor Relations
Phone: 704.366.5122
ir@chanticleerholdings.com
Source: Chanticleer Holdings, Inc.
Released October 13, 2014