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Good Times(GTIM) - 2022 Q3 - Quarterly Report
2022-08-11 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 28, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-18590 (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification Number) ...
Good Times(GTIM) - 2022 Q2 - Earnings Call Transcript
2022-05-06 20:59
Good Times Restaurants Inc. (NASDAQ:GTIM) Q2 2022 Results Earnings Conference Call May 5, 2022 5:00 PM ET Company Participants Ryan Zink - Chief Executive Officer Matthew Karnes - Senior Vice President Finance Conference Call Participants Marc Becker - Evercore Operator Good afternoon, ladies and gentlemen. Welcome to the Good Times Restaurants Inc. Fiscal 2022 Second Quarter Earnings Call. By now, everyone should have access to the company's earnings release, which is available in the Investors section of ...
Good Times(GTIM) - 2022 Q2 - Quarterly Report
2022-05-05 21:24
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 29, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-18590 (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) 651 CORPORATE CIRCLE, GOLDEN, CO 80401 ...
Good Times(GTIM) - 2022 Q1 - Earnings Call Transcript
2022-02-04 01:14
Call Start: 17:00 January 1, 0000 5:22 PM ET Good Times Restaurants Inc. (NASDAQ:GTIM) Q1 2022 Earnings Conference Call February 3, 2022, 5:00 PM ET Company Participants Ryan Zink – Chief Executive Officer Conference Call Participants Amar Sheth – Bellwood Partners Brian London – Analyst Operator Good afternoon, ladies and gentlemen. Welcome to the Good Times Restaurants, Inc. Fiscal 2022, First Quarter Earnings Call. By now, everyone should have access to the company's earnings release, which is available ...
Good Times(GTIM) - 2022 Q1 - Quarterly Report
2022-02-03 21:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or Other Jurisdiction of Incorporation or Organization) 651 CORPORATE CIRCLE, GOLDEN, CO 80401 (Address of Principal Executive Offices, Including Zip Code) (303) 384-1400 (Registrant's Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol ...
Good Times(GTIM) - 2021 Q4 - Earnings Call Transcript
2021-12-17 02:16
Good Times Restaurants Inc. (NASDAQ:GTIM) Q4 2021 Earnings Conference Call December 16, 2021 5:00 PM ET Company Participants Ryan Zink - Chief Executive Officer Conference Call Participants Operator Good afternoon, ladies and gentlemen. Welcome to the Good Times Restaurants Inc. Fiscal 2021 Fourth Quarter Earnings Call. By now, everyone should have access to the Company's earnings release and 10-Q filing, which are available in the Investors section of the Company's website. As a reminder, a part of today's ...
Good Times(GTIM) - 2021 Q4 - Annual Report
2021-12-16 21:20
Financial Performance - Net revenues for fiscal 2021 increased by $14,095,000 (12.8%) to $123,953,000 from $109,858,000 in fiscal 2020[17] - The company ended fiscal 2021 with $8.9 million in cash and no long-term debt[17] - Total interest expense on notes payable and capital leases was $269,000 for fiscal 2021[32] - The company received full forgiveness of PPP loans totaling $11,778,226, recognized as gain on debt extinguishment[31] Sales Performance - Bad Daddy's brand had an 18.2% increase in same store sales for fiscal 2021[17] - Good Times brand had a 10.5% increase in same store sales for fiscal 2021[17] - Average restaurant sales for Bad Daddy's reached $2.4 million in Fiscal 2021, exceeding initial projections of $2.1 million[37] - Off-premise sales accounted for approximately 33% of all system-wide sales in Fiscal 2021, a 3% increase from Fiscal 2020 and a 22% increase from Fiscal 2019[36] - Same-store sales for Good Times increased by 10.5% in Fiscal 2021, following a 7.9% increase in Fiscal 2020[44] - Bad Daddy's restaurants achieved average sales per square foot of approximately $619 in Fiscal 2021, indicating strong performance[37] Expansion and Growth Strategy - The company opened two new Bad Daddy's restaurants in the second half of Fiscal 2021, continuing its expansion strategy[37] - The company plans to pursue disciplined unit growth for Bad Daddy's Burger Bar, focusing on cash flow rather than significant debt financing[58] - The company expects to develop Bad Daddy's locations in approximately 120 to 150 days from the issuance of a building permit[60] - The company has identified potential new restaurant locations in the southeast U.S. market, with a focus on urban and suburban areas with median household incomes over $70,000[59] Operational Efficiency - The company plans to enhance operational capabilities while managing costs, focusing on sales, labor, and operating expense controls[56] - The company utilizes specialized software for sales forecasting at new restaurant sites, continuously updating data even during reduced growth periods[59] - The company employs a team of three to four managers at Bad Daddy's locations, with a bonus pool based on sales and operational objectives[81] - The company utilizes a cloud-based back-office solution that collects sales, labor, and cash data in near real-time, interfacing with financial accounting systems[93] Marketing and Customer Engagement - The marketing strategy for Bad Daddy's emphasizes local store marketing and digital media, avoiding large media buys[77] - The company aims to grow the Bad Daddy's brand through targeted advertising and menu engineering to increase customer visits and average check size[56] - Good Times maintains an average per person check of approximately $10.50, which is higher than typical quick-service restaurants[42] Franchise and Employment - Bad Daddy's currently has one franchise agreement in South Carolina and six Good Times franchise agreements in the greater Denver metropolitan area[90] - The estimated cost for a Bad Daddy's Burger Bar franchisee to open a restaurant ranges from $590,000 to $1,382,000[88] - Franchisees for Bad Daddy's typically pay a royalty of 4% to 5% of net sales and contribute up to 2% of net sales to an advertising fund[88] - As of September 28, 2021, the company employed approximately 2,230 individuals, including 2,011 hourly team members and 219 salaried managers[96] - The company has implemented an online screening tool that has successfully reduced hourly employee turnover[87] Product Quality and Competitive Advantage - The company believes it has a competitive advantage in product quality compared to traditional quick-service hamburger chains[101] - Good Times has a competitive advantage in product quality compared to traditional quick-service hamburger chains[101] - The company maintains a commitment to high-quality, all-natural ingredients in its menu offerings, differentiating itself in the quick-service restaurant segment[74] Financial Facilities and Compliance - The Cadence Credit Facility allows for loans up to $8,000,000 with a maturity date of January 31, 2023[25] - As of September 28, 2021, the company was in compliance with all financial covenants under the Cadence Credit Facility[27]
Good Times(GTIM) - 2021 Q3 - Earnings Call Transcript
2021-08-11 05:59
Good Times Restaurants Inc. (NASDAQ:GTIM) Q3 2021 Earnings Conference Call August 10, 2021 5:00 PM ET Company Participants Ryan Zink - Chief Executive Officer Conference Call Participants Roger Lipton - Lipton Financial Services Operator Good afternoon, ladies and gentlemen. Welcome to the Good Times Restaurants Inc. Fiscal 2021 Third Quarter Earnings Call. By now, everyone should have access to the company's earnings release and 10-Q filing, which are available in the Investors section of the company's web ...
Good Times(GTIM) - 2021 Q3 - Quarterly Report
2021-08-10 20:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 29, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-18590 (Exact Name of Registrant as Specified in Its Charter) 651 CORPORATE CIRCLE, SUITE 200, GOLDEN, CO 80401 (Address of Principal Executive Offices, Including Zi ...
Good Times(GTIM) - 2021 Q2 - Earnings Call Transcript
2021-05-09 13:47
Good Times Restaurants Inc. (NASDAQ:GTIM) Q2 2021 Earnings Conference Call May 6, 2021 5:00 PM ET Company Participants Ryan Zink - Chief Executive Officer Operator Good afternoon, ladies and gentlemen. Welcome to the Good Times Restaurants Inc. Fiscal 2021 Second Quarter Earnings Call. By now, everyone should have access to the company's earnings release and 10-Q filing, which are available in the Investors section of the company's website. As a reminder, a part of today's discussion will include forward-lo ...