American Restaurant Concepts, Inc. Announces Preliminary 2011 Financial Outlook
JACKSONVILLE, Fla., July 18, 2012 // PRNewswire // -- American Restaurant Concepts, Inc. (OTCBB: ANPZ), the owner, operator and franchisor of Dick's Wings & Grill® restaurants, today announced preliminary financial expectations for its 2011 fiscal year, to be reported in its Annual Report on Form 10-K.
The Company expects to report improvement in quarterly revenue trends and expects to achieve a decrease in cash outflows from operating activities. The Company anticipates filing its Annual Report on Form 10-K for the 2011 fiscal year with the SEC within the next 5-7 days.
"I am very pleased with the financial results that we have generated for 2011," stated Michael Rosenberger, the CEO of American Restaurant Concepts. "We worked very hard this past year to deliver revenue improvement and manage our cash outflows. I look forward to providing additional information about our financial results for the 2011 fiscal year after we file our Form 10-K with the SEC."
About American Restaurant Concepts, Inc.
American Restaurant Concepts, Inc., headquartered in Jacksonville, Florida, is the owner, operator and franchisor of the Dick's Wings & Grill® full-service restaurants and Dick's Wing Express® express restaurants. The Company prides itself on the 365 original mouth-watering flavors it has created for its premium grade chicken wings. Dick's Wings® offers customers the freshest wings, sandwiches, burgers, wraps, salads and signature waffle fries, all in a unique setting that combines a family-friendly environment with a sports-themed restaurant. Dick's Wings & Grill's® chicken wings have won numerous awards in Florida and Georgia, including having been voted "Best Chicken Wings in Northeast Florida" 12 consecutive years by Folioweekly magazine. Dick's Wings currently has 16 full-service restaurants and 2 express restaurants. Fifteen of the restaurants are located in Florida, with one located in Georgia and two located in Canada. For more information on the Company, please visit its website at www.dickswingsandgrill.com.
Safe Harbor Provision
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding the company's future financial position, business strategy, budgets, projected revenues and costs, and plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors set forth in the company's Annual Report on Form 10-K for the year ended December 26, 2010 and its other filings and submissions with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the company assumes no obligation to update or revise any of the information contained in this press release.
SOURCE American Restaurant Concepts, Inc.