030122 Red Robin Gourmet Burgers Q4 Results UpJanuary 15, 2003Greenwood Village, CO - Red Robin Gourmet Burgers, Inc.,, a casual dining chain specializing in gourmet burgers and spirits, announced that fourth quarter unaudited revenue increased 24% to $65.6 million. Fourth quarter company-owned comparable store sales increased 2.3%. Fiscal 2002 unaudited revenue increased 22% to $274.4 million and company-owned comparable store sales increased 1.6% over the prior year. Management remains comfortable with previously issued pro-forma earnings per share guidance for fiscal 2002 of $0.85 to $0.87. Pro forma earnings per share exclude the effects of the previously-announced write down of one restaurant and certain other adjustments which the Company has previously announced with respect to the early extinguishment of debt, impairment of real estate held for sale, interest expense and related provisions for income taxes. The Company believes that pro forma results provide additional information useful in analyzing the underlying business results. However, pro forma results are not necessarily indicative of the results that would have occurred had the Company's public offering and certain related events actually occurred at the beginning of fiscal year 2002, nor are they necessarily indicative of future results In 2003, the Company now expects to open 18 new company-owned restaurants, including 5 in the first quarter, up from the previously announced 16 units. The Company will report fourth quarter earnings and address fiscal 2003 earnings guidance on February 27th, 2003. The Company will present at The Fifth Annual ICR XChange, Leisure Lifestyle Conference. The Red Robin investor presentation will be webcast live at 11:45 a.m. Pacific Time on January 15, 2003 at http://custom.viavid.com/icrxchange/default.htm. To listen to the webcast a Windows Media Player is required. If you do not have Windows Media Player, please visit www.viavid.com prior to the presentation, where the software can be downloaded at no charge.
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