Restaurant News Resource - RARE Hospitality Restaurant Industry News

Adjusted Second-Quarter Earnings from Continuing Operations Total $0.42 Per Diluted Share - Revises Fiscal 2007 Earnings Guidance

RARE Hospitality International, Inc. (NASDAQ: RARE), today announced that it completed the sale of its Bugaboo Creek Steak House concept for approximately $24 million, subject to customary post-closing adjustments, to Charlie Brown's Acquisition Corp., a steakhouse chain owned by Trimaran Capital Partners, a New York-based private asset management firm.

Revises Fiscal 2007 Earnings Guidance to Range of $1.59 to $1.64 Per Diluted Share

Ms. Hampton was previously Vice President and Assistant General Counsel for EarthLink, Inc. and General Counsel and Secretary for EarthLink's PeoplePC subsidiary.

A Trimaran Capital Partners Company Expands Its Concept and Geographic Reach

Net earnings from continuing operations per diluted share for the third quarter were $0.13, including asset impairment and other charges of $0.14, compared with $0.28 for the third quarter of fiscal 2005.

Rare Hospitality International Inc. has reported a few plans to improve long-term shareholder value, including the possible sale of its Bugaboo Creek restaurants.

Adjusted Earnings Per Diluted Share Increase 25.0% for the Fourth Quarter to $0.45

Third-Quarter Revenues Increase 15.8% as Same-Store Sales for LongHorn Steakhouse Improve 3.3%

Completes New Revolving Credit Facility