May 08, 2008 10:00 AM Eastern Daylight Time
EPL Intermediate, Inc. Announces Results for the 13 Weeks Ended March 31,
COSTA MESA, Calif.--(BUSINESS WIRE)--EPL Intermediate, Inc. (“El Pollo Loco” or the “Company”), parent
company of El Pollo Loco, Inc., today reported results for the 13 weeks ended March 31, 2008.
El Pollo Loco reported operating revenues for the 13-week period ended March 31, 2008 of $71.2 million,
which is an increase of $4.4 million, or 6.5%, over operating revenues for the 13-week period ended March
31, 2007 of $66.8 million. Operating revenues include both sales at company-owned stores and franchise
revenues. Increases in company-operated restaurant revenue are attributed to growth in new
company-operated restaurants and increases in same-store sales.
Same-store sales for the system (includes both company and franchise locations) increased 1.8% in the first
quarter of 2008. Restaurants enter the comparable restaurant base for same-store sales the first full week
after that restaurant’s 15-month anniversary.
Operating income decreased $1.4 million, or 17.3%, to $6.4 million for the first 13 weeks of 2008 from $7.8
million for the first 13 weeks of 2007. Items impacting the comparison of operating income include:
an increase in product cost of $2.4 million, or 12.5%, to $21.6 million for the first 13 weeks of 2008
from $19.2 million for the first 13 weeks of 2007. These costs were 32.6% as a percentage of
restaurant revenue for the first quarter of 2008 compared to 30.7% for the same period of 2007. The
1.9% increase in the first 13 weeks of 2008 resulted primarily from increased commodity costs and
heavier promotional discounting.
an increase in payroll and benefit expenses of $1.4 million, or 8.4%, to $17.7 million for the first 13
weeks of 2008 from $16.3 million for the same period in 2007. As a percentage of restaurant revenue,
these costs increased 0.6% to 26.7% for the first 13 weeks of 2008 from 26.1% for the same period of
2007. This increase is primarily attributed to the Califo