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Red Robin Gourmet Burgers Q4 Loss Narrows

Red Robin Gourmet Burgers Inc. (RRGB) reported that its net loss for the fourth-quarter narrowed to $7.7 million or $0.60 per share from $10.6 million or $0.82 per share for the same period a year ago.

Adjusted net loss was $4.7 million for the fourth quarter of 2019 compared to adjusted net income of $5.4 million for the same period a year ago.

Total revenues, which primarily include Company-owned restaurant revenue and franchise royalties, decreased 1.2% to $302.9 million in the fourth quarter of 2019, from $306.8 million in the fourth quarter of 2018.

Restaurant revenue decreased $4.1 million due to a $7.8 million decrease from restaurant closures, partially offset by a $3.7 million, or 1.3%, increase in comparable restaurant revenue.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.16 per share and revenues of $302.79 million. Analysts' estimates typically exclude special items.

For 2020, the company expects net income of at least $2 million, including a tax benefit of $10 million to $12 million; comparable restaurant revenue growth in the low single digits.

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