Dave Busters Announces Preliminary Q4 And FY Financial Results

PRESS RELEASE

Financial results for the fourth quarter and fiscal year ended February 1, 2015, are not yet available. The Company has, however, provided certain preliminary estimates of the results of operations that it expects to report for the fourth quarter and full fiscal year. Actual results may differ materially from these estimates due to the completion of financial closing procedures, final adjustments and other developments that may arise between now and the time the financial results for the fourth quarter are finalized.

Total revenues are estimated to range between $203.8 million and $204.8 million and between $743.5 million and $744.5 million for the thirteen weeks and fiscal year ended February 1, 2015, respectively. This represents sales growth of 19.2% for the thirteen weeks and 17.1% for the full year over the same periods in fiscal 2013, assuming the mid-point of the estimated ranges. Comparable store sales growth is estimated to range between 10.0% and 10.2% and between 7.1% and 7.2% for the thirteen weeks and fiscal year ended February 1, 2015, respectively.

Adjusted EBITDA is estimated to range between $48.4 million and $49.4 million and between $162.0 million and $163.0 million for the thirteen weeks and fiscal year ended February 1, 2015, respectively. This represents Adjusted EBITDA growth of 21.7% for the thirteen weeks and 20.6% for the full year over the same periods in fiscal 2013, assuming the mid-point of the estimated ranges.

Dave & Buster's estimates that operating income will range between $25.2 million and $26.2 million and between $71.0 million and $72.0 million for the thirteen weeks and fiscal year ended February 1, 2015, respectively. Based on these estimations, Adjusted EBITDA Margin is expected to range between 23.7% and 24.1% and between 21.8% and 21.9% for the thirteen weeks and fiscal year ended February 1, 2015, respectively. Assuming the mid-point of the range, this represents a 50 basis point improvement and 60 basis point improvement over the same periods of the prior year, respectively.

The Company opened three stores during the fourth quarter, bringing the total number of stores to 73 as of January 29, 2015. One store was opened using the large store format and the other two were opened using the small store format. These three stores marked Dave & Buster's initial entry into three additional states and collectively added 36 store weeks to operating results.

Included in the year-end 2014 store count is the Company's location in Farmingdale (Long Island), New York which it expects to close in mid-February 2015 due to the expiration of its lease. With past store closures, the Company has experienced customer migration to stores within the same market and currently has two other stores in the Long Island market.

Click here to see the full release at Dave & Buster's "investor relations" page.

ABOUT: Founded in 1982 and headquartered in Dallas, Texas, Dave & Buster's Entertainment, Inc., is the parent company of Dave & Buster's, Inc., an owner and operator of 73 venues in North America that combine dining and entertainment and offer customers the opportunity to "Eat Drink Play and Watch," all in one location. Dave & Buster's offers a full menu of "Fun American New Gourmet" entrées and appetizers, a full selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events. Dave & Buster's currently has stores in 30 states and Canada.