SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

FORM 8-K

 

Current Report Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): January 7, 2008

 

BRINKER INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

 

1-10275

 

75-1914582

(State of Incorporation)

 

(Commission File
Number)

 

(IRS Employment
Identification No.)

 

6820 LBJ Freeway

Dallas, Texas 75240

(Address of principal executive offices)

 

Registrant’s telephone number, including area code  972-980-9917

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

 

 



 

Section 2 — Financial Information.

 

Item 2.02. Results of Operations and Financial Conditions.

 

The information contained in this Current Report on Form 8-K, including the Exhibit attached hereto, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. Furthermore, the information contained in this Current Report on Form 8-K shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.

 

On January 7, 2008, the Registrant issued a Press Release announcing its preliminary estimate of earnings per share and comparable restaurant sales for the second quarter fiscal 2008. A copy of this Press Release is attached hereto as Exhibit 99(a).

 

Section 9 — Financial Statements and Exhibits.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

99(a) Press Release dated January 7, 2008.

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

BRINKER INTERNATIONAL, INC.

 

 

 

Date: January 8, 2008

By:

/s/ Douglas H. Brooks

 

 

Douglas H. Brooks, Chairman of the Board

 

 

President and Chief Executive Officer

 

 

2


EXHIBIT 99(a)

 

 

 

Contacts:

 

Stacey Sullivan Calbert, Media Relations

 

Marie Perry, Investor Relations

 

 

(800) 775-7290

 

(972) 770-1276

 

 

BRINKER INTERNATIONAL ANNOUNCES PRELIMINARY SECOND QUARTER FISCAL
2008 EPS FROM CONTINUING OPERATIONS, BEFORE SPECIAL ITEMS, AND REPORTS
PRELIMINARY COMPARABLE RESTAURANT SALES

 

DALLAS, (Jan. 7, 2008) — Brinker International, Inc. (NYSE: EAT) today estimates earnings per diluted share from continuing operations, before special items, of $0.30 to $0.31 for the company’s second quarter ended Dec. 26, 2007 as compared to earnings per diluted share from continuing operations, before special items, of $0.33 for the second quarter of fiscal 2007.  For the second quarter of fiscal 2008, special items of approximately $0.13 per diluted share consist primarily of a gain on the sale of restaurants to a franchisee, partially offset by charges for the impairment of long-lived assets.  For the second quarter of fiscal 2007, special items of ($0.01) were related to impairment charges for restaurant closures.  As a result, the company estimates earnings per diluted share from continuing operations on a GAAP basis to be $0.43 to $0.44 for the second quarter of fiscal 2008 compared to $0.32 for the second quarter of the prior year.

 

For the second quarter of fiscal 2008, earnings before special items were primarily impacted by a decrease in Brinker comparable restaurant sales of approximately 2 percent (see Table 1) and the associated impact of sales deleverage on fixed costs. “It is obviously a very challenging time for our business, and we are not at all satisfied with our results.  While we are confident we are focused on the right fundamentals to deliver what our guests are looking for, we will continue to look for additional opportunities to meet our guests’ current needs and capitalize on future consumer trends,” said Doug Brooks, Chairman and CEO of Brinker International.

 

Table 1: Q2 preliminary comparable restaurant sales

Q2 08 and Q2 07, company and three reported brands; percentage

 

 

 

Q2 08
Comparable
Sales

 

Q2 07
Comparable
Sales

 

Q2 08
Pricing Impact

 

Q2 08
Mix-Shift

 

Brinker International(1)

 

(2.1)

 

(1.4)

 

2.8

 

0.3

 

Chili’s

 

(2.4)

 

(1.2)

 

2.8

 

0.9

 

On The Border

 

(4.3)

 

(3.6)

 

2.2

 

0.1

 

Maggiano’s

 

1.7

 

(1.3)

 

3.1

 

(2.7)

 


(1) Brinker International preliminary comparable restaurant sales exclude the impact of Macaroni Grill.

 

Forward Calendar

 

-                    Second quarter earnings release, before market opens on Jan. 23, 2008.

-                    Second quarter conference call, via a live webcast on Jan. 23, 2008.

 

At the end of the first quarter of fiscal 2008, Brinker International either owned, operated, or franchised 1,827 restaurants under the names Chili’s Grill & Bar (1,383 units), Romano’s Macaroni Grill (241 units), On The Border Mexican Grill & Cantina (162 units), and Maggiano’s Little Italy (41 units).

 

The statements contained in this release that are not historical facts are forward-looking statements. These forward-looking statements involve risks and uncertainties and, consequently, could be affected by general business and economic conditions, the impact of competition, the impact of mergers, acquisitions, divestitures and other strategic transactions, the seasonality of the company’s business, adverse weather conditions, future commodity prices, fuel and utility costs and availability, terrorists acts, consumer perception of food safety, changes in consumer taste, health epidemics or pandemics, changes in demographic trends, availability of employees, unfavorable publicity, the company’s ability to meet its growth plan, acts of God, governmental regulations, and inflation.

 

# # #