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Cracker Barrel Reports Fourth Quarter and Full Year Fiscal 2012 Results and Provides Guidance for Fiscal 2013 September 19, 2012 Download pdf 162.1 KB Comparable Store Traffic and Comparable Restaurant and Retail Sales Were Positive for Every Month in Quarter Board Increases Dividend; Renews and Increases Share Repurchase Authorization LEBANON, Tenn.--(BUSINESS WIRE)-- Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (Nasdaq: CBRL) today reported its financial results for the fourth quarter and for the fiscal year ending August 3, 2012. The Company also provided guidance for its 2013 fiscal year and first quarter: Fourth Quarter Fiscal 2012 Highlights Compared to the prior year fourth quarter, comparable store traffic increased 1.4%; comparable store restaurant sales increased 3.8%; and comparable store retail sales increased 3.1%. These trends remained positive throughout the quarter with July showing the largest gains for comparable traffic and restaurant sales. On a GAAP basis, earnings per diluted share were $1.47, compared to $0.75 in the prior year quarter. Adjusted for the impact of the extra week in the current year and certain charges in the current and prior year, adjusted earnings per diluted share were $1.20, an 18.8% increase over adjusted earnings per diluted share of $1.01 in the prior year quarter. (See non-GAAP reconciliation below.) Full Year Fiscal 2012 Highlights On a GAAP basis, earnings per diluted share were $4.40 compared to $3.61 in the prior year. Adjusted for the impact of the extra week in the current year and certain charges in the current and prior year, adjusted earnings per diluted share were $4.34, a 13.9% increase over adjusted earnings per diluted share of $3.81 in the prior year. Operating income increased to 7.4% of total revenue compared with 6.9% in fiscal 2011. The Company reduced debt by $25.1 million, repurchased $14.9 million of common stock, paid $22.4 million in dividends, and increased its cash balance by $99.7 million. Dividend Increase and Share Repurchase Authorization Quarterly dividend increased to $0.50 per share, a 25% increase over the last quarterly dividend of $0.40 and a 100% increase over the quarterly dividend declared in the first quarter of fiscal 2012 of $0.25. Board authorized the Company to repurchase up to $100 million of its outstanding common stock. The Company may repurchase stock from time to time under this authorization depending on market conditions. Fourth-Quarter Fiscal 2012 Results Revenue Comparable store restaurant traffic, average check and comparable store restaurant and retail sales for the fiscal months of May, June and July and the fourth quarter were as follows: https://investor.crackerbarrel.com/releasedetail.cfm?ReleaseID=707815
