Grill Concepts, Inc. Annual Report: Year Ended December 25, 2011

April 1, 2012

Grill Concepts, Inc. (OTCPink: GLCC.PK) reported revenues for its year ended December 25, 2011 increased 6.1% to $95.8 million compared to revenues of $90.3 million during the prior year.  Revenues in 2011 benefited primarily from improving same restaurant sales as well as a full year from the company’s restaurant located on Century Blvd. and the opening of the Public School No. 612 both in Los Angeles.

The company reported a net loss for 2011 of $2.65 million or $(0.30) per share versus a net loss of $7.18 million or $(0.81) per share for 2010.  Net income in 2011 primarily benefited from higher revenues and a less than 1% increase in total operating expenses.

As of December 25, 2011, the balance sheet reflected current assets of $10.9 million (including cash and cash equivalents of $5.93 million), total assets of $31.41 million, current liabilities of $12.66 million and total liabilities of $42.73 million.  During 2011, the stockholders’ deficit increased 26.6% to $(11.32) million.

Grill Concepts, Inc is engaged in the development, ownership, operation, management and licensing of full-service, upscale casual dining restaurants.  The company operates its restaurants under the following names: Daily Grill, The Grill on the Alley, In Short Order-Daily Grill and Public School No. 612.

Source: Grill Concepts, Inc.


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