EX-99 5 incstmt.htm 2ND QTR 04 PRESS RELEASE INC STATEMENT

RUBY TUESDAY, INC.

Financial Results For the Second Quarter of Fiscal Year 2004 (unaudited)
(Amounts in thousands except per share amounts)

13 Weeks
Ended		 13 Weeks
Ended		 26 Weeks
Ended		 26 Weeks
Ended
December 2, Percent December 3, Percent Percent December 2, Percent December 3, Percent Percent
       2003        of Sales        2002        of Sales Change        2003        of Sales        2002        of Sales Change
Revenues:                      
 Company restaurant revenues  $ 240,966   98 .4 $ 208,054   98 .4   $ 486,740   98 .4 $ 426,767   98 .3  
 Franchise income      4,038   1 .6     3,449   1 .6       8,116   1 .6     7,248   1 .7  
   Total operating revenues  245,004   100 .0 211,503   100 .0 15 .8 494,856   100 .0 434,015   100 .0 14 .0

Operating Costs and Expenses:		 
 (as a percent of Company
    restaurant revenues)		 
   Cost of merchandise  62,255   25 .8 55,448   26 .7   125,596   25 .8 114,313   26 .8  
   Payroll and related costs  77,890   32 .3 70,825   34 .0   155,578   32 .0 145,264   34 .0  
   Other restaurant operating
    costs		  41,368   17 .2 35,474   17 .1   82,822   17 .0 73,925   17 .3  
   Depreciation and amortization  13,315   5 .5 11,604   5 .6   26,202   5 .4 21,603   5 .1  
 (as a percent of Total operating
     revenues)		 
   Selling, general and
    administrative, net		  15,036   6 .1 10,497   5 .0   31,116   6 .3 21,361   4 .9  
   Equity in (earnings) of
    unconsolidated franchises		      (198) (0 .1)     (311) (0 .1)     (1,269) (0 .3)     (876) (0 .2)  
Total operating costs and expenses  209,666     183,537       420,045     375,590      

Earnings before Interest and Taxes		  35,338   14 .4 27,966   13 .2 26 .4 74,811   15 .1 58,425   13 .5 28 .0

 Interest expense, net		      1,165   0 .5       997   0 .5       2,515   0 .5       491   0 .1  

Pre-tax Profit		  34,173   13 .9 26,969   12 .8   72,296   14 .6 57,934   13 .3  

 Provision for income taxes		     12,131   5 .0      9,384   4 .4      25,741   5 .2    20,160   4 .6  

Net Income		  $   22,042   9 .0 $   17,585   8 .3 25 .3 $   46,555   9 .4 $   37,774   8 .7 23 .2

Earnings Per Share:		 
Basic  $       0.34     $       0.27     25 .9 $       0.72     $       0.59     22 .0
Diluted  $       0.33     $       0.27     22 .2 $       0.70     $       0.58     20 .7

Shares:		 
Basic  65,243     63,870       65,026     63,844      
Diluted  66,884     64,899       66,527     65,000