Buffalo Wild Wings reported fourth-quarter net income of $8.3 million or $0.46 per share, compared to $7.7 million or $0.43 per share in corresponding quarter last year. Company recorded improved operational efficiency with a 19% jump in total revenue for the quarter to $145.0 million from $121.2 million reported in the comparable quarter last year.
“Despite the challenges of our economy, our momentum has continued and we achieved the healthy annual growth goals we set for ourselves,” said CEO Sally Smith in a statement.
Minneapolis based Buffalo Wild Wings owns or franchises 658 sports bar restaurants across 42 states recorded a higher fourth-quarter sales but its profit growth number came in lower than expected because of higher costs.
Despite the economy challenges, company reported better than expected results in last quarters and achieved the healthy annual growth goals. The company showed confidence to achieve their new annual goals of 13% to 15% unit growth and 20% net earnings growth in 2010. With Winter Olympics just round the corner company expect to reap the excitement benefits.