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Restaurant Industry News |
Tuesday December 2nd, 2008 |
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Dave & Buster's, Inc. Reports a 3.8 Percent Increase in Comparable Store Sales |
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23.6 Percent Increase in Adjusted EBITDA for its Fiscal 2008 First Quarter |
Dave & Buster's, Inc., a leading operator of high volume entertainment/dining complexes, today announced results for its first quarter ended May 4, 2008.
Total revenues increased 5.2% to $142.5 million in the first quarter of 2008, compared to $135.5 million in the first quarter of 2007. This revenue growth was comprised primarily of a 3.8% increase in comparable store sales. Total Food and Beverage revenues increased 1.1%, while revenues from Amusements and Other increased 10.0%.
EBITDA (Modified) for the first quarter of 2008 increased to $27.2 million from $18.8 million in the first quarter of 2007. Adjusted EBITDA, which excludes non-recurring charges, increased 23.6% to $27.7 million versus $22.4 million in the first quarter of 2007.
'We are excited that the sales growth and margin momentum from last year continued through the first quarter of 2008,' said Steve King, Chief Executive Officer. 'We are particularly encouraged by our exceptionally strong amusement sales.'
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