Key Developments For P.F. Chang's China Bistro, Inc
P.F. Chang's China Bistro, Inc (PFCB.O) (Nasdaq)
P.F. Chang's China Bistro, Inc. Issues Q4 2009 Revenue Outlook In Line With Analysts' Estimates; Raises FY 2009 EPS Outlook
P.F. Chang's China Bistro, Inc. announced that for fourth quarter of 2009, it expects consolidated revenues to range from $318-$320 million. It raised fiscal 2009 outlook and expects earnings per share (EPS) from continuing operations to range from $1.70-$1.75. According to Reuters Estimates, analysts were expecting the Company to report revenues of $320 million for fourth quarter of 2009.
P.F. Chang's China Bistro, Inc. and Unilever N.V. Announce Exclusive Licensing Agreement
P.F. Chang's China Bistro, Inc. and Unilever N.V. jointly announced that the companies have entered into an exclusive licensing agreement to develop a line of frozen Asian entres for the U.S. under the P.F. Chang's brand. Terms of the licensing agreement were not disclosed. The companies will work together on the development and launch of the new premium line of frozen Asian-style entres. A launch date for the new products has not yet been set.
P.F. Chang's China Bistro, Inc. Issues FY 2009 Guidance In Line With Analysts' Estimates; Raises FY 2009 EPS Guidance
P.F. Chang's China Bistro, Inc. announced that it expects consolidated revenues for fiscal 2009 are expected to increase 1% to 2% compared to fiscal 2008. As a result of continued restaurant operating margin improvements, the Company has increased its guidance of fiscal 2009 earnings per share (EPS) from continuing operations to a range of $1.60-$1.65 per share. The Company reported revenues of $1.198 billion for fiscal 2008. According to Reuters Estimates, analysts are expecting the Company to report EPS of $1.64 on revenues of $1.227 billion for fiscal 2009.
P.F. Chang's China Bistro, Inc. Announces Expansion in Mexico In Agreement With Alsea, S.A.B. de C.V.
P.F. Chang's China Bistro, Inc. announced a development and license agreement with Alsea, S.A.B. de C.V., the Quick Service Restaurant (QSR) and Casual Dining operator in Latin America, to develop 30 restaurants throughout Mexico over the next 10 years. The first location is scheduled to open in Mexico City in the fourth quarter of 2009. Alsea plans to initially focus on Mexico City and open two restaurants in the first year of the agreement. Alsea will then broaden expansion throughout Mexico with plans for opening 10 restaurants in the first four years.
P.F. Chang's China Bistro, Inc. Raises FY 2009 Outlook
P.F. Chang's China Bistro, Inc. raised its fiscal 2009 outlook and expects consolidated revenues to increase 1%-2% compared to fiscal 2008 and earnings per share (EPS) from continuing operations to range from $1.45-$1.50. The Company reported revenues of $1.198 billion in fiscal 2008. According to Reuters Estimates, analysts were expecting the Company to report revenues of $1.215 billion and EPS of $1.23 for the same period.
