Company Quick10K Filing
Ruths Hospitality Group
Price19.90 EPS1
Shares30 P/E14
MCap588 P/FCF19
Net Debt80 EBIT57
TEV668 TEV/EBIT12
TTM 2019-09-29, in MM, except price, ratios
10-Q 2020-09-27 Filed 2020-11-02
10-Q 2020-06-28 Filed 2020-08-06
10-Q 2020-03-29 Filed 2020-05-08
10-K 2019-12-29 Filed 2020-02-27
10-Q 2019-09-29 Filed 2019-11-01
10-Q 2019-06-30 Filed 2019-08-02
10-Q 2019-03-31 Filed 2019-05-03
10-K 2018-12-30 Filed 2019-02-28
10-Q 2018-09-30 Filed 2018-11-02
10-Q 2018-07-01 Filed 2018-08-10
10-Q 2018-04-01 Filed 2018-05-10
10-K 2017-12-31 Filed 2018-03-16
10-Q 2017-09-24 Filed 2017-11-03
10-Q 2017-06-25 Filed 2017-07-28
10-Q 2017-03-26 Filed 2017-05-05
10-K 2016-12-25 Filed 2017-03-08
10-Q 2016-09-25 Filed 2016-10-28
10-Q 2016-06-26 Filed 2016-07-29
10-Q 2016-03-27 Filed 2016-05-03
10-K 2015-12-27 Filed 2016-03-04
10-Q 2015-09-27 Filed 2015-10-30
10-Q 2015-06-28 Filed 2015-08-04
10-Q 2015-03-29 Filed 2015-05-05
10-K 2014-12-28 Filed 2015-03-10
10-Q 2014-09-28 Filed 2014-11-07
10-Q 2014-06-29 Filed 2014-08-05
10-Q 2014-03-30 Filed 2014-05-06
10-K 2013-12-29 Filed 2014-03-11
10-Q 2013-09-29 Filed 2013-11-06
10-Q 2013-06-30 Filed 2013-08-05
10-Q 2013-03-31 Filed 2013-05-09
10-K 2012-12-30 Filed 2013-03-13
10-Q 2012-09-23 Filed 2012-10-31
10-Q 2012-06-24 Filed 2012-07-27
10-Q 2012-03-25 Filed 2012-04-30
10-K 2011-12-25 Filed 2012-03-02
10-Q 2011-09-25 Filed 2011-11-02
10-Q 2011-06-26 Filed 2011-08-03
10-Q 2011-03-27 Filed 2011-05-06
10-K 2010-12-26 Filed 2011-03-04
10-Q 2010-09-26 Filed 2010-11-01
10-Q 2010-06-27 Filed 2010-08-04
10-Q 2010-03-28 Filed 2010-05-07
10-K 2009-12-27 Filed 2010-03-05
8-K 2020-10-30 Earnings, Exhibits
8-K 2020-10-26 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2020-09-16 Regulation FD
8-K 2020-08-13 Officers
8-K 2020-07-31 Earnings, Exhibits
8-K 2020-07-09 Exhibits
8-K 2020-06-23
8-K 2020-06-16
8-K 2020-06-04
8-K 2020-05-20
8-K 2020-05-20
8-K 2020-05-18
8-K 2020-05-08
8-K 2020-05-07
8-K 2020-04-23
8-K 2020-04-07
8-K 2020-03-27
8-K 2020-03-16
8-K 2020-03-03
8-K 2020-02-21
8-K 2020-01-13
8-K 2019-11-15
8-K 2019-11-01
8-K 2019-10-22
8-K 2019-09-18
8-K 2019-08-02
8-K 2019-07-29
8-K 2019-07-23
8-K 2019-06-06
8-K 2019-05-21
8-K 2019-05-09
8-K 2019-05-03
8-K 2019-05-01
8-K 2019-03-04
8-K 2019-02-22
8-K 2019-01-14
8-K 2018-12-06
8-K 2018-11-07
8-K 2018-11-02
8-K 2018-10-22
8-K 2018-09-18
8-K 2018-08-22
8-K 2018-08-10
8-K 2018-06-07
8-K 2018-06-01
8-K 2018-05-15
8-K 2018-05-04
8-K 2018-03-05
8-K 2018-02-21
8-K 2018-01-08

RUTH 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 ruth-ex311_7.htm
EX-31.2 ruth-ex312_8.htm
EX-32.1 ruth-ex321_9.htm
EX-32.2 ruth-ex322_6.htm

Ruths Hospitality Group Earnings 2020-09-27

Balance SheetIncome StatementCash Flow
0.50.40.30.20.10.02012201420172020
Assets, Equity
0.20.10.10.0-0.0-0.12012201420172020
Rev, G Profit, Net Income
0.10.10.0-0.0-0.1-0.12012201420172020
Ops, Inv, Fin

ruth-10q_20200927.htm
0001324272 --12-29 2020 Q3 false P13Y4M24D P2Y 2020 2023-02-28 5.000 4.500 4.000 3.000 0001324272 2019-12-30 2020-09-27 xbrli:shares 0001324272 us-gaap:CommonStockMember 2020-10-28 0001324272 ruth:UnvestedRestrictedStockMember 2020-10-28 iso4217:USD 0001324272 2020-09-27 0001324272 2019-12-29 0001324272 us-gaap:FranchiseRightsMember 2020-09-27 0001324272 us-gaap:FranchiseRightsMember 2019-12-29 0001324272 us-gaap:OtherIntangibleAssetsMember 2020-09-27 0001324272 us-gaap:OtherIntangibleAssetsMember 2019-12-29 0001324272 ruth:LeaseAndOtherIntangibleAssetsMember 2020-09-27 0001324272 ruth:LeaseAndOtherIntangibleAssetsMember 2019-12-29 iso4217:USD xbrli:shares 0001324272 ruth:RestaurantSalesMember 2020-06-29 2020-09-27 0001324272 ruth:RestaurantSalesMember 2019-07-01 2019-09-29 0001324272 ruth:RestaurantSalesMember 2019-12-30 2020-09-27 0001324272 ruth:RestaurantSalesMember 2018-12-31 2019-09-29 0001324272 us-gaap:FranchiseMember 2020-06-29 2020-09-27 0001324272 us-gaap:FranchiseMember 2019-07-01 2019-09-29 0001324272 us-gaap:FranchiseMember 2019-12-30 2020-09-27 0001324272 us-gaap:FranchiseMember 2018-12-31 2019-09-29 0001324272 us-gaap:ServiceOtherMember 2020-06-29 2020-09-27 0001324272 us-gaap:ServiceOtherMember 2019-07-01 2019-09-29 0001324272 us-gaap:ServiceOtherMember 2019-12-30 2020-09-27 0001324272 us-gaap:ServiceOtherMember 2018-12-31 2019-09-29 0001324272 2020-06-29 2020-09-27 0001324272 2019-07-01 2019-09-29 0001324272 2018-12-31 2019-09-29 0001324272 us-gaap:FoodAndBeverageMember 2020-06-29 2020-09-27 0001324272 us-gaap:FoodAndBeverageMember 2019-07-01 2019-09-29 0001324272 us-gaap:FoodAndBeverageMember 2019-12-30 2020-09-27 0001324272 us-gaap:FoodAndBeverageMember 2018-12-31 2019-09-29 0001324272 us-gaap:RetailMember 2020-06-29 2020-09-27 0001324272 us-gaap:RetailMember 2019-07-01 2019-09-29 0001324272 us-gaap:RetailMember 2019-12-30 2020-09-27 0001324272 us-gaap:RetailMember 2018-12-31 2019-09-29 0001324272 us-gaap:CommonStockMember 2019-12-29 0001324272 us-gaap:AdditionalPaidInCapitalMember 2019-12-29 0001324272 us-gaap:RetainedEarningsMember 2019-12-29 0001324272 us-gaap:TreasuryStockMember 2019-12-29 0001324272 us-gaap:RetainedEarningsMember 2019-12-30 2020-03-29 0001324272 2019-12-30 2020-03-29 0001324272 us-gaap:CommonStockMember 2019-12-30 2020-03-29 0001324272 us-gaap:AdditionalPaidInCapitalMember 2019-12-30 2020-03-29 0001324272 us-gaap:CommonStockMember 2020-03-29 0001324272 us-gaap:AdditionalPaidInCapitalMember 2020-03-29 0001324272 us-gaap:RetainedEarningsMember 2020-03-29 0001324272 us-gaap:TreasuryStockMember 2020-03-29 0001324272 2020-03-29 0001324272 us-gaap:RetainedEarningsMember 2020-03-30 2020-06-28 0001324272 2020-03-30 2020-06-28 0001324272 us-gaap:CommonStockMember 2020-03-30 2020-06-28 0001324272 us-gaap:AdditionalPaidInCapitalMember 2020-03-30 2020-06-28 0001324272 us-gaap:CommonStockMember 2020-06-28 0001324272 us-gaap:AdditionalPaidInCapitalMember 2020-06-28 0001324272 us-gaap:RetainedEarningsMember 2020-06-28 0001324272 us-gaap:TreasuryStockMember 2020-06-28 0001324272 2020-06-28 0001324272 us-gaap:RetainedEarningsMember 2020-06-29 2020-09-27 0001324272 us-gaap:AdditionalPaidInCapitalMember 2020-06-29 2020-09-27 0001324272 us-gaap:CommonStockMember 2020-06-29 2020-09-27 0001324272 us-gaap:CommonStockMember 2020-09-27 0001324272 us-gaap:AdditionalPaidInCapitalMember 2020-09-27 0001324272 us-gaap:RetainedEarningsMember 2020-09-27 0001324272 us-gaap:TreasuryStockMember 2020-09-27 0001324272 2019-04-01 2019-06-30 0001324272 2018-12-31 2019-03-31 0001324272 us-gaap:CommonStockMember 2018-12-30 0001324272 us-gaap:AdditionalPaidInCapitalMember 2018-12-30 0001324272 us-gaap:RetainedEarningsMember 2018-12-30 0001324272 us-gaap:TreasuryStockMember 2018-12-30 0001324272 2018-12-30 0001324272 us-gaap:RetainedEarningsMember 2018-12-31 2019-03-31 0001324272 us-gaap:CommonStockMember 2018-12-31 2019-03-31 0001324272 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 2019-03-31 0001324272 us-gaap:RetainedEarningsMember srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember srt:RestatementAdjustmentMember 2019-03-31 0001324272 srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember srt:RestatementAdjustmentMember 2019-03-31 0001324272 us-gaap:CommonStockMember 2019-03-31 0001324272 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001324272 us-gaap:RetainedEarningsMember 2019-03-31 0001324272 us-gaap:TreasuryStockMember 2019-03-31 0001324272 2019-03-31 0001324272 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0001324272 us-gaap:CommonStockMember 2019-04-01 2019-06-30 0001324272 us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0001324272 us-gaap:CommonStockMember 2019-06-30 0001324272 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0001324272 us-gaap:RetainedEarningsMember 2019-06-30 0001324272 us-gaap:TreasuryStockMember 2019-06-30 0001324272 2019-06-30 0001324272 us-gaap:RetainedEarningsMember 2019-07-01 2019-09-29 0001324272 us-gaap:CommonStockMember 2019-07-01 2019-09-29 0001324272 us-gaap:AdditionalPaidInCapitalMember 2019-07-01 2019-09-29 0001324272 us-gaap:CommonStockMember 2019-09-29 0001324272 us-gaap:AdditionalPaidInCapitalMember 2019-09-29 0001324272 us-gaap:RetainedEarningsMember 2019-09-29 0001324272 us-gaap:TreasuryStockMember 2019-09-29 0001324272 2019-09-29 0001324272 ruth:FranchiseeAcquisitionRestaurantsMember 2019-12-30 2020-09-27 ruth:Restaurant 0001324272 ruth:RuthsChrisSteakHouseMember 2021-12-31 0001324272 ruth:RuthsChrisSteakHouseMember us-gaap:EntityOperatedUnitsMember 2021-12-31 0001324272 ruth:RuthsChrisSteakHouseMember ruth:ContractualAgreementMember 2021-12-31 0001324272 ruth:RuthsChrisSteakHouseMember us-gaap:FranchisedUnitsMember 2021-12-31 0001324272 ruth:RuthsChrisSteakHouseMember us-gaap:FranchisedUnitsMember ruth:InternationalMember 2021-12-31 0001324272 ruth:FranchiseeAcquisitionRestaurantsMember 2019-07-28 2019-07-29 xbrli:pure 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:SecondAmendmentToCreditAgreementMember 2020-03-29 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:SecondAmendmentToCreditAgreementMember 2019-12-30 2020-03-29 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:FourthAmendmentToCreditAgremeentMember us-gaap:CommonStockMember 2020-05-31 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:FourthAmendmentToCreditAgremeentMember us-gaap:CommonStockMember 2020-05-01 2020-05-31 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:FifthAmendmentToCreditAgremeentMember us-gaap:SubsequentEventMember 2020-10-26 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:FifthAmendmentToCreditAgremeentMember us-gaap:SubsequentEventMember 2020-10-26 2020-10-26 0001324272 ruth:LongLivedAssetsMember 2019-12-30 2020-03-29 0001324272 ruth:LongLivedAssetsMember 2020-03-30 2020-06-28 0001324272 ruth:LongLivedAssetsMember 2020-06-29 2020-09-27 0001324272 ruth:TerritoryRightsMember 2019-12-30 2020-03-29 0001324272 ruth:InventoryMember 2020-03-30 2020-06-28 0001324272 ruth:InventoryMember 2020-06-29 2020-09-27 0001324272 us-gaap:FairValueMeasurementsNonrecurringMember ruth:LongLivedAssetsMember 2020-09-27 0001324272 us-gaap:FairValueMeasurementsNonrecurringMember ruth:LongLivedAssetsMember 2019-12-30 2020-09-27 0001324272 us-gaap:FairValueMeasurementsNonrecurringMember 2019-12-29 0001324272 srt:MinimumMember 2020-09-27 0001324272 srt:MaximumMember 2020-09-27 ruth:Lease 0001324272 country:US ruth:RestaurantSalesMember 2020-06-29 2020-09-27 0001324272 country:US us-gaap:FranchiseMember 2020-06-29 2020-09-27 0001324272 us-gaap:NonUsMember us-gaap:FranchiseMember 2020-06-29 2020-09-27 0001324272 country:US us-gaap:ServiceOtherMember 2020-06-29 2020-09-27 0001324272 country:US 2020-06-29 2020-09-27 0001324272 us-gaap:NonUsMember 2020-06-29 2020-09-27 0001324272 country:US ruth:RestaurantSalesMember 2019-07-01 2019-09-29 0001324272 country:US us-gaap:FranchiseMember 2019-07-01 2019-09-29 0001324272 us-gaap:NonUsMember us-gaap:FranchiseMember 2019-07-01 2019-09-29 0001324272 country:US us-gaap:ServiceOtherMember 2019-07-01 2019-09-29 0001324272 country:US 2019-07-01 2019-09-29 0001324272 us-gaap:NonUsMember 2019-07-01 2019-09-29 0001324272 country:US ruth:RestaurantSalesMember 2019-12-30 2020-09-27 0001324272 country:US us-gaap:FranchiseMember 2019-12-30 2020-09-27 0001324272 us-gaap:NonUsMember us-gaap:FranchiseMember 2019-12-30 2020-09-27 0001324272 country:US us-gaap:ServiceOtherMember 2019-12-30 2020-09-27 0001324272 country:US 2019-12-30 2020-09-27 0001324272 us-gaap:NonUsMember 2019-12-30 2020-09-27 0001324272 country:US ruth:RestaurantSalesMember 2018-12-31 2019-09-29 0001324272 country:US us-gaap:FranchiseMember 2018-12-31 2019-09-29 0001324272 us-gaap:NonUsMember us-gaap:FranchiseMember 2018-12-31 2019-09-29 0001324272 country:US us-gaap:ServiceOtherMember 2018-12-31 2019-09-29 0001324272 country:US 2018-12-31 2019-09-29 0001324272 us-gaap:NonUsMember 2018-12-31 2019-09-29 0001324272 ruth:SeniorCreditFacilityMember 2020-09-27 0001324272 us-gaap:LetterOfCreditMember 2020-09-27 0001324272 ruth:SeniorCreditFacilityMember 2019-12-30 2020-09-27 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:CreditAgreementMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember 2017-02-02 0001324272 us-gaap:LetterOfCreditMember ruth:CreditAgreementMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember 2017-02-02 0001324272 ruth:SwinglineLoansMember ruth:CreditAgreementMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember 2017-02-02 0001324272 ruth:CreditAgreementMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember 2017-02-02 2017-02-02 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:CreditAgreementMember us-gaap:FederalFundsEffectiveSwapRateMember 2017-02-02 2017-02-02 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:CreditAgreementMember us-gaap:LondonInterbankOfferedRateLIBORMember 2017-02-02 2017-02-02 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:CreditAgreementMember us-gaap:LondonInterbankOfferedRateLIBORMember srt:MinimumMember 2017-02-02 2017-02-02 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:CreditAgreementMember us-gaap:LondonInterbankOfferedRateLIBORMember srt:MaximumMember 2017-02-02 2017-02-02 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:CreditAgreementMember us-gaap:BaseRateMember srt:MinimumMember 2017-02-02 2017-02-02 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:CreditAgreementMember us-gaap:BaseRateMember srt:MaximumMember 2017-02-02 2017-02-02 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:FirstAmendmentToCreditAgreementMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember 2019-09-18 0001324272 us-gaap:LetterOfCreditMember ruth:FirstAmendmentToCreditAgreementMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember 2019-09-18 0001324272 ruth:SwinglineLoansMember ruth:FirstAmendmentToCreditAgreementMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember 2019-09-18 0001324272 2019-09-18 2019-09-18 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:SecondAmendmentToCreditAgreementMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember 2020-03-27 0001324272 ruth:SwinglineLoansMember ruth:SecondAmendmentToCreditAgreementMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember 2020-03-27 0001324272 2020-03-27 2020-03-27 0001324272 ruth:SecondAmendmentToCreditAgreementMember srt:MaximumMember ruth:RepurchaseOrDividendMember 2020-06-28 0001324272 ruth:SecondAmendmentToCreditAgreementMember srt:MaximumMember ruth:CapitalExpenditureMember 2020-06-28 0001324272 ruth:ThirdAmendmentToCreditAgreementMember srt:ScenarioForecastMember srt:MaximumMember 2021-03-28 0001324272 srt:MaximumMember ruth:ThirdAmendmentToCreditAgreementMember srt:ScenarioForecastMember 2021-03-31 0001324272 srt:MaximumMember ruth:ThirdAmendmentToCreditAgreementMember srt:ScenarioForecastMember 2021-06-30 0001324272 srt:MaximumMember ruth:ThirdAmendmentToCreditAgreementMember srt:ScenarioForecastMember 2021-09-30 0001324272 srt:MaximumMember ruth:ThirdAmendmentToCreditAgreementMember srt:ScenarioForecastMember 2021-12-31 0001324272 srt:MinimumMember ruth:ThirdAmendmentToCreditAgreementMember srt:ScenarioForecastMember 2020-12-31 0001324272 ruth:ThirdAmendmentToCreditAgreementMember 2020-05-31 0001324272 ruth:ThirdAmendmentToCreditAgreementMember 2020-06-30 0001324272 ruth:ThirdAmendmentToCreditAgreementMember 2020-07-31 0001324272 ruth:ThirdAmendmentToCreditAgreementMember 2020-08-31 0001324272 ruth:ThirdAmendmentToCreditAgreementMember us-gaap:SubsequentEventMember 2020-09-30 0001324272 ruth:ThirdAmendmentToCreditAgreementMember us-gaap:SubsequentEventMember 2020-10-31 0001324272 ruth:ThirdAmendmentToCreditAgreementMember srt:ScenarioForecastMember 2020-11-30 0001324272 ruth:ThirdAmendmentToCreditAgreementMember srt:ScenarioForecastMember 2020-12-31 0001324272 ruth:CreditAgreementMember srt:ScenarioForecastMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-12-29 2021-03-28 0001324272 ruth:CreditAgreementMember srt:ScenarioForecastMember us-gaap:BaseRateMember 2020-12-29 2021-03-28 0001324272 ruth:CreditAgreementMember srt:ScenarioForecastMember us-gaap:RevolvingCreditFacilityMember 2020-12-29 2021-03-28 0001324272 ruth:ThirdAmendmentToCreditAgreementMember srt:ScenarioForecastMember 2021-03-28 0001324272 ruth:ThirdAmendmentToCreditAgreementMember srt:ScenarioForecastMember srt:MinimumMember 2020-12-29 2021-03-28 0001324272 us-gaap:RevolvingCreditFacilityMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember ruth:FourthAmendmentToCreditAgremeentMember 2020-05-18 0001324272 us-gaap:LetterOfCreditMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember ruth:FourthAmendmentToCreditAgremeentMember 2020-05-18 0001324272 ruth:SwinglineLoansMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember ruth:FourthAmendmentToCreditAgremeentMember 2020-05-18 0001324272 us-gaap:RevolvingCreditFacilityMember 2020-05-18 0001324272 us-gaap:RevolvingCreditFacilityMember srt:MinimumMember 2020-05-18 2020-05-18 0001324272 us-gaap:RevolvingCreditFacilityMember srt:MaximumMember 2020-05-18 2020-05-18 0001324272 ruth:FourthAmendmentToCreditAgremeentMember 2020-05-18 0001324272 ruth:FourthAmendmentToCreditAgremeentMember srt:MinimumMember 2020-05-18 2020-05-18 0001324272 ruth:FourthAmendmentToCreditAgremeentMember ruth:CashRequirementWithoutEquityIssuancesMember 2020-05-31 0001324272 ruth:FourthAmendmentToCreditAgremeentMember ruth:CashRequirementAssumingEquityIssuancesMember 2020-05-31 0001324272 ruth:FourthAmendmentToCreditAgremeentMember ruth:CashRequirementWithoutEquityIssuancesMember 2020-06-30 0001324272 ruth:FourthAmendmentToCreditAgremeentMember ruth:CashRequirementAssumingEquityIssuancesMember 2020-06-30 0001324272 ruth:FourthAmendmentToCreditAgremeentMember ruth:CashRequirementWithoutEquityIssuancesMember 2020-07-31 0001324272 ruth:FourthAmendmentToCreditAgremeentMember ruth:CashRequirementAssumingEquityIssuancesMember 2020-07-31 0001324272 ruth:FourthAmendmentToCreditAgremeentMember ruth:CashRequirementWithoutEquityIssuancesMember 2020-08-31 0001324272 ruth:FourthAmendmentToCreditAgremeentMember ruth:CashRequirementAssumingEquityIssuancesMember 2020-08-31 0001324272 ruth:FourthAmendmentToCreditAgremeentMember us-gaap:SubsequentEventMember ruth:CashRequirementWithoutEquityIssuancesMember 2020-09-30 0001324272 ruth:FourthAmendmentToCreditAgremeentMember us-gaap:SubsequentEventMember ruth:CashRequirementAssumingEquityIssuancesMember 2020-09-30 0001324272 ruth:FourthAmendmentToCreditAgremeentMember us-gaap:SubsequentEventMember ruth:CashRequirementWithoutEquityIssuancesMember 2020-10-31 0001324272 ruth:FourthAmendmentToCreditAgremeentMember us-gaap:SubsequentEventMember ruth:CashRequirementAssumingEquityIssuancesMember 2020-10-31 0001324272 ruth:FourthAmendmentToCreditAgremeentMember srt:ScenarioForecastMember ruth:CashRequirementWithoutEquityIssuancesMember 2020-11-30 0001324272 ruth:FourthAmendmentToCreditAgremeentMember srt:ScenarioForecastMember ruth:CashRequirementAssumingEquityIssuancesMember 2020-11-30 0001324272 ruth:FourthAmendmentToCreditAgremeentMember srt:ScenarioForecastMember ruth:CashRequirementWithoutEquityIssuancesMember 2020-12-31 0001324272 ruth:FourthAmendmentToCreditAgremeentMember srt:ScenarioForecastMember ruth:CashRequirementAssumingEquityIssuancesMember 2020-12-31 0001324272 ruth:FourthAmendmentToCreditAgremeentMember us-gaap:SubsequentEventMember 2020-10-31 0001324272 ruth:FourthAmendmentToCreditAgremeentMember srt:ScenarioForecastMember 2020-11-30 0001324272 ruth:FourthAmendmentToCreditAgremeentMember srt:ScenarioForecastMember 2021-03-28 0001324272 ruth:FourthAmendmentToCreditAgremeentMember srt:ScenarioForecastMember srt:MinimumMember 2020-12-29 2021-03-28 0001324272 ruth:CARESActMember 2020-03-30 2020-06-28 0001324272 ruth:FifthAmendmentToCreditAgremeentMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember us-gaap:SubsequentEventMember us-gaap:RevolvingCreditFacilityMember 2020-10-26 0001324272 ruth:FifthAmendmentToCreditAgremeentMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember us-gaap:SubsequentEventMember us-gaap:RevolvingCreditFacilityMember 2020-10-26 2020-10-26 0001324272 ruth:FifthAmendmentToCreditAgremeentMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember us-gaap:SubsequentEventMember us-gaap:LetterOfCreditMember 2020-10-26 0001324272 ruth:FifthAmendmentToCreditAgremeentMember ruth:WellsFargoBankNationalAssociationAndOtherLendersMember us-gaap:SubsequentEventMember ruth:SwinglineLoansMember 2020-10-26 0001324272 ruth:FifthAmendmentToCreditAgremeentMember us-gaap:SubsequentEventMember 2020-10-31 0001324272 ruth:FifthAmendmentToCreditAgremeentMember srt:ScenarioForecastMember 2020-11-30 0001324272 ruth:FifthAmendmentToCreditAgremeentMember srt:ScenarioForecastMember 2020-12-31 0001324272 ruth:FifthAmendmentToCreditAgremeentMember srt:ScenarioForecastMember 2021-01-31 0001324272 ruth:FifthAmendmentToCreditAgremeentMember srt:ScenarioForecastMember 2021-02-28 0001324272 ruth:FifthAmendmentToCreditAgremeentMember srt:ScenarioForecastMember 2021-03-31 0001324272 ruth:FifthAmendmentToCreditAgremeentMember 2020-10-26 0001324272 ruth:FifthAmendmentToCreditAgremeentMember srt:MinimumMember 2020-10-26 2020-10-26 0001324272 ruth:FifthAmendmentToCreditAgremeentMember ruth:CapitalExpenditureMember srt:MaximumMember 2020-10-26 0001324272 ruth:FifthAmendmentToCreditAgremeentMember ruth:CapitalExpenditureMember 2020-10-26 2020-10-26 0001324272 ruth:FifthAmendmentToCreditAgremeentMember ruth:CapitalExpenditureMember srt:MinimumMember 2020-10-26 0001324272 ruth:The2019ShareRepurchasePlanMember 2019-12-30 2020-09-27 0001324272 ruth:The2019ShareRepurchasePlanMember 2020-09-27 0001324272 ruth:The2019ShareRepurchasePlanMember 2019-10-31 0001324272 2020-05-31 0001324272 2020-05-01 2020-05-31 0001324272 ruth:DividendDeclared1Member 2019-12-30 2020-09-27 0001324272 ruth:DividendDeclared1Member 2018-12-31 2019-09-29 0001324272 ruth:DividendDeclared2Member 2018-12-31 2019-09-29 0001324272 ruth:DividendDeclared3Member 2018-12-31 2019-09-29 0001324272 ruth:DividendDeclared1Member 2020-09-27 0001324272 ruth:DividendDeclared1Member 2019-09-29 0001324272 ruth:DividendDeclared2Member 2019-09-29 0001324272 ruth:DividendDeclared3Member 2019-09-29 0001324272 us-gaap:RevolvingCreditFacilityMember 2019-12-30 2020-03-29 0001324272 us-gaap:RestrictedStockMember 2020-09-27 0001324272 us-gaap:RestrictedStockUnitsRSUMember 2020-09-27 0001324272 ruth:FranchiseeAcquisitionRestaurantsMember srt:MinimumMember 2019-12-30 2020-09-27 0001324272 ruth:FranchiseeAcquisitionRestaurantsMember srt:MaximumMember 2019-12-30 2020-09-27 0001324272 ruth:FranchiseeAcquisitionRestaurantsMember srt:MinimumMember 2019-12-30 2020-03-29 ruth:Segment 0001324272 ruth:RuthsChrisSteakHouseMember us-gaap:EntityOperatedUnitsMember 2020-09-27 0001324272 ruth:OperatedUnderContractualAgreementsMember 2020-09-27 0001324272 ruth:RuthsChrisSteakHouseMember us-gaap:FranchisedUnitsMember 2020-09-27 0001324272 ruth:CompanyOwnedSteakhouseRestaurantsMember us-gaap:OperatingSegmentsMember 2020-06-29 2020-09-27 0001324272 ruth:CompanyOwnedSteakhouseRestaurantsMember us-gaap:OperatingSegmentsMember 2019-07-01 2019-09-29 0001324272 ruth:CompanyOwnedSteakhouseRestaurantsMember us-gaap:OperatingSegmentsMember 2019-12-30 2020-09-27 0001324272 ruth:CompanyOwnedSteakhouseRestaurantsMember us-gaap:OperatingSegmentsMember 2018-12-31 2019-09-29 0001324272 ruth:FranchiseOperationsMember us-gaap:OperatingSegmentsMember 2020-06-29 2020-09-27 0001324272 ruth:FranchiseOperationsMember us-gaap:OperatingSegmentsMember 2019-07-01 2019-09-29 0001324272 ruth:FranchiseOperationsMember us-gaap:OperatingSegmentsMember 2019-12-30 2020-09-27 0001324272 ruth:FranchiseOperationsMember us-gaap:OperatingSegmentsMember 2018-12-31 2019-09-29 0001324272 us-gaap:MaterialReconcilingItemsMember 2020-06-29 2020-09-27 0001324272 us-gaap:MaterialReconcilingItemsMember 2019-07-01 2019-09-29 0001324272 us-gaap:MaterialReconcilingItemsMember 2019-12-30 2020-09-27 0001324272 us-gaap:MaterialReconcilingItemsMember 2018-12-31 2019-09-29 0001324272 us-gaap:CorporateNonSegmentMember 2020-06-29 2020-09-27 0001324272 us-gaap:CorporateNonSegmentMember 2019-07-01 2019-09-29 0001324272 us-gaap:CorporateNonSegmentMember 2019-12-30 2020-09-27 0001324272 us-gaap:CorporateNonSegmentMember 2018-12-31 2019-09-29 0001324272 us-gaap:OperatingSegmentsMember ruth:CompanyOwnedSteakhouseRestaurantsMember 2020-09-27 0001324272 us-gaap:OperatingSegmentsMember ruth:CompanyOwnedSteakhouseRestaurantsMember 2019-12-29 0001324272 us-gaap:OperatingSegmentsMember ruth:FranchiseOperationsMember 2020-09-27 0001324272 us-gaap:OperatingSegmentsMember ruth:FranchiseOperationsMember 2019-12-29 0001324272 us-gaap:CorporateNonSegmentMember 2020-09-27 0001324272 us-gaap:CorporateNonSegmentMember 2019-12-29 0001324272 ruth:OmnibusIncentivePlan2018Member 2018-05-15 0001324272 ruth:LongTermEquityIncentivePlan2005Member 2018-05-14 2018-05-15 0001324272 ruth:LongTermEquityIncentivePlan2005Member 2020-09-27 0001324272 us-gaap:RestrictedStockMember ruth:LongTermEquityIncentivePlan2005Member 2020-09-27 0001324272 us-gaap:RestrictedStockMember ruth:OmnibusIncentivePlan2018Member 2020-09-27 0001324272 us-gaap:RestrictedStockUnitsRSUMember ruth:OmnibusIncentivePlan2018Member 2020-09-27 0001324272 ruth:OmnibusIncentivePlan2018Member 2020-09-27 0001324272 ruth:OmnibusIncentivePlan2018Member 2019-12-30 2020-09-27 0001324272 ruth:OmnibusIncentivePlan2018Member us-gaap:ShareBasedCompensationAwardTrancheOneMember 2019-12-30 2020-09-27 0001324272 ruth:OmnibusIncentivePlan2018Member us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2019-12-30 2020-09-27 0001324272 ruth:OmnibusIncentivePlan2018Member us-gaap:ShareBasedCompensationAwardTrancheThreeMember 2019-12-30 2020-09-27 0001324272 ruth:OmnibusIncentivePlan2018Member ruth:ShareBasedCompensationAwardTrancheFourMember 2019-12-30 2020-09-27 0001324272 ruth:ExecutiveChairmanMember us-gaap:RestrictedStockMember 2020-06-29 2020-09-27 0001324272 ruth:ExecutiveChairmanMember 2020-06-29 2020-09-27 0001324272 ruth:CARESActMember 2020-06-29 2020-09-27 ruth:Supplier

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 27, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                       to                      

Commission File Number 000-51485

 

Ruth’s Hospitality Group, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware

72-1060618

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

 

 

1030 W. Canton Avenue, Suite 100,

Winter Park, FL

32789

(Address of principal executive offices)

(Zip code)

(407) 333-7440

Registrant’s telephone number, including area code

None

Former name, former address and former fiscal year, if changed since last report

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

RUTH

Nasdaq

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act:

 

Large accelerated filer

Accelerated Filer

 

 

 

 

Non-accelerated filer

Smaller reporting company

 

 

 

 

 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    

 


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes     No  

 

The number of shares outstanding of the registrant’s common stock as of October 28, 2020 was 34,899,747, which includes 642,826 shares of unvested restricted stock.

 

 

 

 

 


TABLE OF CONTENTS

 

 

 

 

Page

Part I — Financial Information

 

3

 

 

 

 

Item 1

Financial Statements:

 

3

 

 

 

 

 

Condensed Consolidated Balance Sheets as of September 27, 2020 and December 29, 2019

 

3

 

 

 

 

 

Condensed Consolidated Statements of Operations for the Thirteen and Thirty-nine Week Periods ended September 27, 2020 and September 29, 2019

 

4

 

 

 

 

 

Condensed Consolidated Statements of Shareholders’ Equity for the Thirteen and Thirty-nine Week Periods ended September 27, 2020 and September 29, 2019

 

5

 

 

 

 

 

Condensed Consolidated Statements of Cash Flows for the Thirty-nine Week Periods ended September 27, 2020 and September 29, 2019

 

7

 

 

 

 

 

Notes to Condensed Consolidated Financial Statements

 

8

 

 

 

 

Item 2

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

22

 

 

 

 

Item 3

Quantitative and Qualitative Disclosures about Market Risk

 

33

 

 

 

 

Item 4

Controls and Procedures

 

34

 

 

 

Part II — Other Information

 

34

 

 

 

 

Item 1

Legal Proceedings

 

34

 

 

 

 

Item 1A

Risk Factors

 

34

 

 

 

 

Item 2

Unregistered Sales of Equity Securities and Use of Proceeds

 

35

 

 

 

 

Item 3

Defaults Upon Senior Securities

 

36

 

 

 

 

Item 4

Mine Safety Disclosures

 

36

 

 

 

 

Item 5

Other Information

 

36

 

 

 

 

Item 6

Exhibits

 

36

 

 

 

 

Signatures

 

38

 

2


PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

RUTH’S HOSPITALITY GROUP, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets—Unaudited

(Amounts in thousands, except share and per share data)

 

 

 

September 27,

 

 

December 29,

 

 

 

2020

 

 

2019

 

Assets

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

103,107

 

 

$

5,567

 

Accounts receivable, less allowance for doubtful accounts 2020 - $201; 2019 - $241

 

 

14,395

 

 

 

23,769

 

Inventory

 

 

7,278

 

 

 

9,623

 

Prepaid expenses and other

 

 

3,159

 

 

 

3,052

 

Total current assets

 

 

127,939

 

 

 

42,011

 

Property and equipment, net of accumulated depreciation 2020 - $172,567; 2019 -

   $173,845

 

 

124,093

 

 

 

142,962

 

Operating lease right of use assets

 

 

191,239

 

 

 

206,358

 

Goodwill

 

 

45,549

 

 

 

45,549

 

Franchise rights, net of accumulated amortization 2020 - $5,973; 2019 - $4,401

 

 

45,045

 

 

 

49,916

 

Other intangibles, net of accumulated amortization 2020 - $1,537; 2019 - $1,439

 

 

4,146

 

 

 

4,449

 

Deferred income taxes

 

 

8,130

 

 

 

4,929

 

Income tax receivable

 

 

5,245

 

 

 

 

Other assets

 

 

1,121

 

 

 

702

 

Total assets

 

$

552,507

 

 

$

496,876

 

Liabilities and Shareholders' Equity

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

6,002

 

 

 

13,598

 

Accrued payroll

 

 

13,237

 

 

 

17,303

 

Accrued expenses

 

 

13,068

 

 

 

10,574

 

Deferred revenue

 

 

48,416

 

 

 

52,856

 

Current operating lease liabilities

 

 

14,471

 

 

 

14,313

 

Other current liabilities

 

 

2,324

 

 

 

4,237

 

Total current liabilities

 

 

97,518

 

 

 

112,881

 

Long-term debt

 

 

135,200

 

 

 

64,000

 

Operating lease liabilities

 

 

212,944

 

 

 

223,292

 

Unearned franchise fees

 

 

2,237

 

 

 

2,489

 

Other liabilities

 

 

70

 

 

 

69

 

Total liabilities

 

 

447,969

 

 

 

402,731

 

Commitments and contingencies (Note 12)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shareholders' equity:

 

 

 

 

 

 

 

 

Common stock, par value $.01 per share; 100,000,000 shares authorized, 34,256,367

   shares issued and outstanding at September 27, 2020, 28,418,691 shares issued and

   outstanding at December 29, 2019

 

 

342

 

 

 

284

 

Additional paid-in capital

 

 

81,942

 

 

 

40,462

 

Retained earnings

 

 

22,254

 

 

 

53,399

 

Treasury stock, at cost; 71,950 shares at September 27, 2020 and December 29, 2019

 

 

 

 

 

 

Total shareholders' equity

 

 

104,538

 

 

 

94,145

 

Total liabilities and shareholders' equity

 

$

552,507

 

 

$

496,876

 

 

See accompanying notes to condensed consolidated financial statements.

 

3


RUTH’S HOSPITALITY GROUP, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations—Unaudited

(Amounts in thousands, except share and per share data)

 

 

 

13 Weeks Ended

 

 

39 Weeks Ended

 

 

 

September 27,

 

 

September 29,

 

 

September 27,

 

 

September 29,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restaurant sales

 

$

58,594

 

 

$

97,226

 

 

$

188,611

 

 

$

314,229

 

Franchise income

 

 

3,511

 

 

 

3,928

 

 

 

8,094

 

 

 

12,907

 

Other operating income

 

 

1,318

 

 

 

1,855

 

 

 

3,671

 

 

 

5,857

 

Total revenues

 

 

63,423

 

 

 

103,009

 

 

 

200,376

 

 

 

332,993

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Food and beverage costs

 

 

15,908

 

 

 

28,817

 

 

 

54,563

 

 

 

89,688

 

Restaurant operating expenses

 

 

34,868

 

 

 

51,216

 

 

 

117,224

 

 

 

155,974

 

Marketing and advertising

 

 

889

 

 

 

3,174

 

 

 

5,285

 

 

 

10,925

 

General and administrative costs

 

 

7,572

 

 

 

8,335

 

 

 

22,668

 

 

 

26,016

 

Depreciation and amortization expenses

 

 

5,316

 

 

 

5,361

 

 

 

16,660

 

 

 

15,453

 

Pre-opening costs

 

 

403

 

 

 

535

 

 

 

1,185

 

 

 

876

 

Loss (gain) on lease modifications

 

 

310

 

 

 

 

 

 

(178

)

 

 

 

Loss on impairment

 

 

3,272

 

 

 

 

 

 

16,253

 

 

 

 

Total costs and expenses

 

 

68,538

 

 

 

97,438

 

 

 

233,660

 

 

 

298,932

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

 

(5,115

)

 

 

5,571

 

 

 

(33,284

)

 

 

34,061

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

(1,422

)

 

 

(638

)

 

 

(3,341

)

 

 

(1,460

)

Other

 

 

(48

)

 

 

18

 

 

 

(12

)

 

 

33

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes

 

 

(6,585

)

 

 

4,951

 

 

 

(36,637

)

 

 

32,634

 

Income tax expense (benefit)

 

 

(1,284

)

 

 

423

 

 

 

(9,920

)

 

 

4,886

 

Net income (loss)

 

$

(5,301

)

 

$

4,528

 

 

$

(26,717

)

 

$

27,748

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per common share

 

$

(0.15

)

 

$

0.16

 

 

$

(0.87

)

 

$

0.95

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per common share

 

$

(0.15

)

 

$

0.16

 

 

$

(0.87

)

 

$

0.94

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares used in computing earnings (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

34,240,318

 

 

 

28,951,612

 

 

 

30,826,304

 

 

 

29,159,922

 

Diluted

 

 

34,240,318

 

 

 

29,191,076

 

 

 

30,826,304

 

 

 

29,563,396

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash dividends declared per common share

 

$

 

 

$

0.13

 

 

$

0.15

 

 

$

0.39

 

 

See accompanying notes to condensed consolidated financial statements.

 

4


RUTH’S HOSPITALITY GROUP, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Shareholders’ Equity—Unaudited  

(Amounts in thousands, except per share data)

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock

 

 

Paid-in

 

 

Retained

 

 

Treasury Stock

 

 

Shareholders'

 

 

 

Shares

 

 

Value

 

 

Capital

 

 

Earnings

 

 

Shares

 

 

Value

 

 

Equity

 

Balance at December 29, 2019

 

 

28,419

 

 

$

284

 

 

$

40,462

 

 

$

53,399

 

 

 

72

 

 

$

 

 

$

94,145

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(3,818

)

 

 

 

 

 

 

 

 

(3,818

)

Cash dividends, $0.15 per common share

 

 

 

 

 

 

 

 

 

 

 

(4,428

)

 

 

 

 

 

 

 

 

(4,428

)

Repurchase of common stock

 

 

(902

)

 

 

(9

)

 

 

(13,217

)

 

 

 

 

 

 

 

 

 

 

 

(13,226

)

Shares issued under stock compensation plan net of shares withheld for tax effects

 

 

100

 

 

 

1

 

 

 

(659

)

 

 

 

 

 

 

 

 

 

 

 

(658

)

Stock-based compensation

 

 

 

 

 

 

 

 

2,065

 

 

 

 

 

 

 

 

 

 

 

 

2,065

 

Balance at March 29, 2020

 

 

27,617

 

 

$

276

 

 

$

28,652

 

 

$

45,153

 

 

 

72

 

 

$

 

 

$

74,081

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(17,598

)

 

 

 

 

 

 

 

 

(17,598

)

Stock issuance

 

 

6,455

 

 

 

65

 

 

 

49,517

 

 

 

 

 

 

 

 

 

 

 

 

49,582

 

Shares issued under stock compensation plan net of shares withheld for tax effects

 

 

72

 

 

 

1

 

 

 

(395

)

 

 

 

 

 

 

 

 

 

 

 

(394

)

Stock-based compensation

 

 

 

 

 

 

 

 

1,958

 

 

 

 

 

 

 

 

 

 

 

 

1,958

 

Balance at June 28, 2020

 

 

34,144

 

 

$

341

 

 

$

79,732

 

 

$

27,555

 

 

 

72

 

 

$

 

 

$

107,628

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(5,301

)