CHARLOTTE, NC -- (Marketwired) -- 04/17/14 -- Chanticleer Holdings, Inc. (NASDAQ: HOTR) (Chanticleer Holdings, or the "Company"), owner and operater of multiple restaurant brands internationally and domestically, announced today record preliminary net restaurant revenue for Q1 2014 of approximately $5.5 million, compared to $1.6 million in Q1 2013, an increase of approximately 244%. Quarter-over-quarter growth was approximately a 67% increase from Q4 2013 of $3.3 million. This increase in net revenue is primarily a result of our recent restaurant acquisitions.
The Company completed its acquisition of Spoon Bar & Kitchen in Dallas, TX and its U.S. Hooters locations in Oregon and Washington on January 31, 2014. As of March 31, 2014, the Company had 21 restaurant locations including ten Hooters worldwide, five Just Fresh, five American Roadside Burgers and the Spoon Bar & Kitchen in the U.S.
Mike Pruitt, Chairman and Chief Executive Officer, commented, "Our record restaurant revenue is due to the increase in the aggregate number of restaurants we own and operate in whole or in part. We are excited to share this preliminary data with our shareholders as we continue to strategically grow the Company organically and through acquisition opportunities."
The Company intends to file its Quarterly Report on Form 10-Q by the required filing date, and such report will include further details about the Company's first quarter financial performance.
About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer Holdings (HOTR), together with its subsidiaries, owns and operates restaurant brands in the United States and internationally. The Company is a franchisee owner of Hooters® restaurants in international markets including United Kingdom, South Africa, Eastern Europe, and Brazil, has joint ventured with the current Hooters franchisee in Australia, and recently acquired two U.S. Hooters restaurants, one in Oregon and one in Washington. The Company also owns and operates American Roadside Burgers, Spoon Bar & Kitchen and owns a majority interest in Just Fresh restaurants in the U.S.
For further information, please visit www.chanticleerholdings.com
Any statements that are not historical facts contained in this release are "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, changes in costs of labor and food prices, intensive competition in our industry and competition with national, regional chains and independent restaurant operators, the performance of management and our employees, our ability to obtain financing or required licenses, competition, and the fact that we do not have full operational control over the businesses of our franchise partners. These and other risks and uncertainties, which are described in more detail in the Company's most recent Annual Report on Form 10-K and other reports and statements filed with the United States Securities and Exchange Commission, are difficult to predict, involve uncertainties that may materially affect actual results and may be beyond the Company's control, and could cause actual results, performance or achievements to be materially different from those expressed or implied by any of these forward-looking statements. New factors emerge from time to time, and it is not possible for management to predict all such factors or to assess the impact of each such factor on the Company. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
Chanticleer Holdings, Inc.
Source: Chanticleer Holdings, Inc.