Ignite Restaurant Group Inc (IRG) Releases Earnings Results, Misses Expectations By $-0.01 EPS

Ignite Restaurant Group Inc (IRG) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $-0.04 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $-0.03. The company posted revenue of $117.90 million in the period, compared to analysts expectations of $119.51 million. The company’s revenue was down -3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.

Ignite Restaurant Group Inc opened for trading at $3.18 and hit $3.49 on the upside on Monday, eventually ending the session at $3.41, with a gain of 2.71% or 0.09 points. The heightened volatility saw the trading volume jump to 1,808 shares. Company has a market cap of $89 M.

In a different news, on Jun 3, 2015, David G Catalano (COO) purchased 25,000 shares at $4.48 per share price. According to the SEC, on Jun 1, 2015, Raymond A. Iii Blanchette (CEO) purchased 12,630 shares at $3.82 per share price.

Ignite Restaurant Group Inc. is a diversified restaurant company. The Company operates two restaurant brands: Joe’s Crab Shack (Joe’s) and Brick House Tavern + Tap (Brick House). The Company’s restaurant brands offers food and beverages. It owns and operates approximately 139 Joe’s and approximately 21 Brick House in 36 states. Joe’s is a family restaurant and these restaurants average 8000 square feet with over 200 seats. Joes’ restaurants offer an outdoor patio for guests to eat and drink and a children’s playground. The Company’s Brick House is a bar and grill. Its Brick House restaurant is of approximately 8500 square feet and averages approximately 250 seats. In addition to a traditional dining room and bar area Brick House also offers communal tables and a section of leather recliners positioned in front of high definition televisions (HD TVs) where guests receive their own television tray for dining. Brick House offers over 70 varieties of beer and specialty cocktails.

Ignite Restaurant Group Inc

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