Landry’s Restaurants, Inc. Q3 2008 (Qtr End 09/30/08) Earnings Call Transcript

  • download
  • Print
  • Recommend
  • 0

2008-11-10 10:15:29.0

Tags: Call Transcript, Restaurant, Earnings, Transcript, Landry's Restaurants Inc., Financial Planning, Financial Accounting, Financial Services, Finance, Seeking Alpha, Call Transcript, Restaurant, Earnings, Transcript, Landry's Restaurants Inc., Financial Planning, Financial Accounting, Financial Services, Finance, Seeking Alpha

Question-and-Answer Session

Operator

(Operator Instructions) Your first question comes from the line of Reza Vahabzadeh – Barclay’s Capital

Reza Vahabzadeh – Barclay’s Capital

On the discontinued operations, what businesses are you putting into discontinued operations right now?

Rick Liem

Those are the restaurants that we’re closing, exiting. So its primarily a bunch of Joe’s Crab Shacks.

Operator

Your next question comes from the line of Michael Gallo – CL King

Michael Gallo – CL King

The interest and other line was about $22 million in the quarter, I think the interest portion was broken out in the release as about $19.5 million, so what was the other $2.5 million, was that hurricane related stuff or what was that?

Rick Liem

No I think it would just be generally non-operating expense costs.

Operator

Your next question comes from the line of Brian Hunt – Wachovia

Brian Hunt – Wachovia

I was wondering if you could tell us what your LTM EBITDA is per the financing agreement for the restaurants and how many restaurants are in the discontinued number, are remain closed and what type of EBITDA did they contribute to LTM?

Rick Liem

There’s, we’re over $130 million in the restaurant EBITDA calculation. I’d say there’s probably about a dozen restaurants remaining in the discontinued ops and its diminimous from a ROP. Most of them are shut down.

The interest rate swaps on the Golden Nugget is the majority of the other in that $22 million.

Operator

There are no additional questions at this time; I would like to turn it back over to management for any additional or closing comments.

Rick Liem

Thank you very much, we’ll talk to you all later.

Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet. (Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com. All other use is prohibited.

THE INFORMATION CONTAINED HERE IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL, CONFERENCE PRESENTATION OR OTHER AUDIO PRESENTATION, AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE AUDIO PRESENTATIONS. IN NO WAY DOES SEEKING ALPHA ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY TRANSCRIPT. USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S AUDIO PRESENTATION ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS.

 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:

  1. You are currently: a Guest |
  2.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement
Click Here