Key Developments For Benihana National Corp
Benihana National Corp (BNHN.O) (Nasdaq)
Benihana, Inc. Prior FY 2010 Earnings Guidance Not To Be Relied Upon
Benihana, Inc. announced that lower than expected sales, as well as the investments made in the Renewal Program ahead of its implementation, have pressured margins more than expected and are likely to adversely affect prior fiscal 2010 guidance on earnings (which should no longer be relied upon).
Benihana, Inc. Reaffirms FY 2010 Guidance
Benihana, Inc. reaffirmed its fiscal 2010 guidance and expects total restaurant sales of $305 to $310 million and diluted earnings per share (EPS) of $0.40 to $0.45. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.44 on revenue of $316 million for the same period.
Benihana, Inc. Issues FY 2010 Outlook; Revenue Outlook Below Analysts' Estimates
Benihana, Inc. announced that for fiscal 2010, it expects total restaurant sales of $305 to $310 million and diluted earnings per share (EPS) of $0.40 to $0.45. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.44 on revenue of $320 million for the same period.
Benihana, Inc. Updates FY 2009 Guidance; EPS Guidance Above Analysts' Estimates
Benihana, Inc. announced that for fiscal 2009, it expects total restaurant sales of $303-$308 million, consistent with prior expectations, although the Company now anticipates being at the lower end of this range. For fiscal 2009, the Company expects GAAP diluted loss per share of $0.04-$0.09, inclusive of all non-recurring costs and non GAAP diluted earnings per share (EPS), which excludes the non cash impairment charge and costs to be incurred in the fiscal fourth quarter of 2009 related to the retirement of the Company's former Chief Executive Officer, to be $0.40-$0.45. According to Reuters Estimates, analysts were expecting the Company to report revenue of $305 million and EPS of $0.39 for fiscal 2009.
Benihana, Inc. Announces Senior Management Changes
Benihana, Inc. announced the retirement of Joel A. Schwartz as Chairman of the Board and Chief Executive Officer of the Company. Effective immediately, Board member Richard C. Stockinger, will assume the Chief Executive Officer position, Darwin C. Dornbush, a former director of the Company, will become Non-Executive Chairman of the Board, and John E. Abdo, a long time standing member of the Board, will become Vice Chairman.
