Dave and Buster's, owner and operator of family entertainment centres across the US, has revealed strong financial results for Q4 2016.
As well as opening four new stores, total revenues increased 15.4 per cent to $270.2m from $234.2m. Comparable store sales increased 3.2 per cent.
The company reported net income of $27.4m, or $0.63 per diluted share, vs. net income of $23.0m, or $0.53 per diluted share.
Adjusted EBITDA, a non-GAAP measure, increased 16.5 per cent to $74.5m from $63.9m.
As a percentage of total revenues, adjusted EBITDA increased 30 basis points to 27.6 per cent from 27.3 per cent.
Steve King, chief executive officer of the company, said: "For the quarter, Dave and Buster's generated a 3.2 per cent increase in comparable store sales, lapping a six per cent increase from the prior year, for an impressive 9.2 per cent growth on a two-year stacked basis.
"Our comparable store sales growth has now exceeded the competitive casual dining benchmark for 19 straight quarters. We also reached an important milestone during the quarter as full year sales exceeded $1bn. As proud as we are of this accomplishment, we are even more excited about our growth prospects in the future.”
