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Chili's parent Brinker posts higher profit as expenses fall
October 23, 2013 / 12:05 PM / 4 years ago

Chili's parent Brinker posts higher profit as expenses fall

Oct 23 (Reuters) - Chili’s Grill & Bar operator, Brinker International Inc, reported a 5 percent rise in quarterly profit as its expenses fell and its restaurant operating margin improved.

The Dallas-based company, which also owns the Maggiano’s Little Italy chain, said net income rose to $29.2 million, or 42 cents per share, in the first quarter ended Sept. 25, from $27.9 million, or 36 cents per share, a year earlier.

Excluding items, Brinker earned 43 cents per share.

Sales at company-owned Chili’s restaurants open for at least 18 months fell 1.6 percent during the quarter, more than the 0.7 percent decline analysts had expected, according to Consensus Metrix.

Same-restaurant sales at Maggiano’s rose 0.6 percent, in line with analysts’ estimates.

Total revenue was flat at $683.9 million.

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