-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MItpn3Xx6d+BVt3lGPufDUb+LYxK/oyBSwjP6lpUt+VP6Kg6i/uHeRv1X62w9eTU va1cGl4BYjU+vx7ueT4zGQ== 0000950134-03-013279.txt : 20031006 0000950134-03-013279.hdr.sgml : 20031006 20031006154514 ACCESSION NUMBER: 0000950134-03-013279 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031002 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031006 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FAMOUS DAVES OF AMERICA INC CENTRAL INDEX KEY: 0001021270 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 411782300 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21625 FILM NUMBER: 03929773 BUSINESS ADDRESS: STREET 1: 7657 ANAGRAM DR CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 BUSINESS PHONE: 612-557-57 MAIL ADDRESS: STREET 1: 7657 ANAGRAM DR CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 8-K 1 c79968e8vk.txt FORM 8-K 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): October 2, 2003 FAMOUS DAVE'S OF AMERICA, INC. (Exact name of registrant as specified in its charter) Minnesota 0-21625 41-1782300 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 8091 Wallace Road, Eden Prairie, MN 55344 (Address of principal executive offices) (Zip Code) (952) 294-1300 (Registrant's telephone number, including area code) N/A (Former Name or Former Address, if Changed Since Last Report) Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits 99.1 Famous Dave's of America, Inc. Press Release dated October 2, 2003. Item 12. Results of Operations and Financial Condition. The information in this Item is furnished to, but not filed with, the Securities and Exchange Commission (the "Commission") solely under Item 12 of Form 8-K, "Results of Operations and Financial Condition." On October 2, 2003, Famous Dave's of America, Inc. issued a press release that included financial information for the third quarter of fiscal 2003. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference. 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. FAMOUS DAVE'S OF AMERICA, INC. Date: October 6, 2003 By: /s/ Kenneth Stanecki -------------------------------- Name: Kenneth Stanecki Title: Chief Financial Officer EX-99.1 3 c79968exv99w1.txt PRESS RELEASE EXHIBIT 99.1 PRESS RELEASE Source: Famous Dave's of America, Inc. FAMOUS DAVE'S ANNOUNCES 3RD QUARTER REVENUES Thursday October 2, 5:01 pm ET SETS TIMING OF EARNINGS RELEASE & CONFERENCE CALL MINNEAPOLIS, Oct. 2 /PRNewswire-FirstCall/ -- Famous Dave's of America, Inc. (Nasdaq: DAVE - News) today announced that it reported revenues of approximately $26.0 million for the 3rd quarter of 2003, an 8.8% increase over the 3rd quarter of 2002. Comparable sales for the 3rd quarter decreased 3.5% at company-operated restaurants and decreased 3.8% for franchise-operated restaurants. Through the first three quarters, comparable sales decreased 2.6% at company-operated restaurants and decreased 6.5% at franchise-operated restaurants. Four new franchise-operated Famous Dave's restaurants opened during the quarter. These new restaurants include locations at the Mall of America in Minnesota; Salt Lake City, Utah; Lexington, Kentucky and Sioux City, Iowa. There are currently 87 Famous Dave's restaurants including 43 company-operated and 44 franchise-operated. The Company also has signed Area Development Agreements for an additional 145 franchise restaurants. "While the results we have reported for the 3rd quarter are relatively consistent with our year to date trends, we are encouraged with the focus and enthusiasm of our corporate support team and restaurant operators toward the future," said David Goronkin, CEO of Famous Dave's of America. "Our team is becoming aligned with a strategic focus that will enable us to raise the level of execution in marketing, and overall hospitality," said Goronkin. In addition, Goronkin stated, "We have a number of initiatives in place focused on building brand awareness, including a review of our marketing strategy and building design. The success of recent new restaurant openings reflects the continued strength of the Famous Dave's brand and the commitment of our franchisee partners." Famous Dave's will release financial results for the 3rd quarter at 3:15 p.m. Central Time on Tuesday, October 21, 2003 with a conference call to follow at 4:00 p.m. Central Time. The company invites all those interested in hearing management's discussion of the quarter to join the call by dialing (877) 798-8052; Conference ID "3162569". A replay will be available for one week following the call by dialing (800) 642-1687. Participants may also access a live web cast of the conference call through the investor relations section of Famous Dave's web site at www.famousdaves.com . Additional detail on 3rd quarter and year-to-date revenues is as follows:
3rd Quarter 2003 2002 Pct Change Restaurant Revenues $24,356,000 $22,554,000 7.9% Franchise Royalties 1,317,000 929,000 41.8 Franchise Fees 256,000 340,000 (24.7) Licensing Royalties 49,000 45,000 8.8 Total Revenues $25,978,000 $23,868,000 8.8 Average Weekly Revenue -- Company-operated $43,571 $48,369 (9.9) -- Franchise-operated $50,842 $50,013 1.6
Year-To-Date 2003 2002 Pct Change Restaurant Revenues $70,772,000 $65,912,000 7.4% Franchise Royalties 3,235,000 2,254,000 43.5 Franchise Fees 775,000 940,000 (17.5) Licensing Royalties 164,000 175,000 (6.3) Total Revenues $74,926,000 $69,281,000 8.15 Average Weekly Revenue -- Company-operated $43,595 $47,946 (9.1) -- Franchise-operated $47,298 $49,036 (3.5)
Famous Dave's of America, Inc. (Nasdaq: DAVE - News) owns, operates and franchises barbeque restaurants. The company currently owns 43 locations and franchises an additional 44 units in 23 states. The Company also has signed Area Development Agreements for an additional 145 franchise restaurants. Its menu features award-winning barbecued and grilled meats, an ample selection of salads, side items, sandwiches and unique desserts. Certain matters discussed within this press release, including statements regarding revenue and profit forecasts, new restaurant sites, restaurant openings and expansion plans, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Famous Dave's of America, Inc. believes the expectation reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectation will be attained. Factors that could cause actual results to differ materially from Famous Dave's expectation include financial performance, restaurant industry conditions, execution of restaurant development and construction programs, ability of our franchisees to execute their development plans, changes in local or national economic conditions, availability of financing, and other risks detailed from time to time in the company's SEC reports.
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