Red Robin Shares Fall 8% After It Missed Revenue Expectations

Shares of Red Robin Gourmet Burgers, Inc. fell 8% Tuesday after the company missed revenue expectations. Red Robin reported net income of $11.2 million, or 78 cents per share, up from $9.5 million, or 65 cents per share in the year-earlier period. The company reported GAAP adjusted earnings per share of 78 cents. Analysts surveyed by Factset expected earnings per share of 77 cents. The company reported revenue of $293 million, above $256 million in the year-earlier period, but below the FactSet consensus of $299 million. "We have now outperformed the casual dining industry in reported comparable sales for the last four years and outpaced them on traffic by over 200 basis points during the second quarter," said chief executive Steve Carley. For fiscal year 2015, the company said it expects total revenue growth close to 12% and to open 20 new Red Robin Restaurants.