Red Robin Gourmet Burgers Announces Completion of $50 million Stock Repurchase Program
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--June 11, 2008--Red Robin Gourmet Burgers, Inc., (Nasdaq: RRGB), a casual dining restaurant chain focused on serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today announced the completion of the repurchase of $50 million of the Company's common stock. The Company repurchased a total of 1,480,763 shares at an average purchase price of $33.76 per share.
On May 29, 2008, the Company announced the board reaffirmed its intent, as previously announced in a press release dated August 16, 2007, to repurchase up to $50 million of the Company's common stock. The stock repurchase is expected to add approximately $0.06 to diluted earnings per share in fiscal 2008.
About Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB)
Red Robin Gourmet Burgers, Inc. (http://www.redrobin.com), a casual dining restaurant chain founded in 1969 that operates through its wholly-owned subsidiary, Red Robin International, Inc., serves up wholesome, fun, feel-good experiences in a kid and family-friendly environment. Red Robin(R) restaurants are famous for serving more than two dozen insanely delicious, high-quality gourmet burgers in a variety of recipes with Bottomless Steak Fries(R), as well as salads, soups, appetizers, entrees, desserts, and signature Mad Mixology(R) Beverages. There are more than 390 Red Robin(R) restaurants located across the United States and Canada, including corporate-owned locations and those operating under franchise agreements.
SOURCE: Red Robin Gourmet Burgers, Inc.