Rubio's Restaurants, Inc.

Restaurants | Financial Main Page | IGHRM Main Page
Disclaimer:

International Guild of Hospitality & Restaurant Managers

Business Summary
Nasdaq: RUBO

Rubio's Restaurants, Inc. is an owner and operator of quick-service Mexican restaurants in California, Arizona, Nevada, Colorado and Utah. As of February 28, 2001, the Company owns and operates 128 quick-service Mexican restaurants that offer traditional Mexican cuisine combined with fresh seafood indicative of the Baja region of Mexico. The Company's signature items include its Baja-style fish tacos, as well as limited-time promotions, such as its lobster burrito, crab and shrimp enchilada and tequila shrimp burrito. Rubio's menu is served at both lunch and dinner, and features a variety of other freshly prepared items, including tacos and burritos made with chargrilled chicken, steak, shrimp, as well as grilled quesadillas. Freshly prepared salsas are offered at Rubio's complimentary salsa bar. The Company's menu also includes reduced fat Healthmex offerings and Kid Pesky meals designed for children.r.

Expanded Business Summary

Financial Summary

RUBO owns and operates 128 Mexican eateries under the name ``Rubio's Baja Grill'' located principally in the southwest region of the United States. For the 53 weeks (vs. 52 weeks) ended 12/31/00, revenues rose 41% to $95.7 million. Net loss totalled $231 thousand vs. an income of $1.7 million. Revenues reflect sales generated by units opened in 1999 and 2000. Loss reflects an increase in total direct labor due to inefficiencies and a $2.2 million loss on asset impairment.

Recent Earnings Announcement
For the 13 weeks ended 04/01/2001, revenues were 26,600; after tax earnings were -154. (Preliminary; reported in thousands of dollars.)

Expanded Business Summary

Rubio's Restaurants, Inc. owns and operates quick-service Mexican restaurants in California, Arizona, Nevada, Colorado and Utah. As of February 28, 2001, the Company owned and operated 128 quick-service Mexican restaurants that offer traditional Mexican cuisine combined with fresh seafood indicative of the Baja region of Mexico. The first Rubio's restaurant opened over 18 years ago in the Mission Bay area of San Diego. Building on the success of its original fish taco concept, the Company later expanded its menu offerings and upgraded its store layout to appeal to a broader customer base.

The Company seeks to differentiate itself from other quick-service and fast-food Mexican restaurants by offering products made to order using authentic regional Baja Mexican recipes. Rubio's signature items include its Baja-style fish tacos, as well as limited-time promotions, such as its lobster burrito, crab and shrimp enchilada and tequila shrimp burrito. The Company's menu is served at both lunch and dinner, and features a variety of other freshly prepared items, including tacos and burritos made with chargrilled chicken, steak and shrimp, as well as grilled quesadillas. Freshly prepared salsas are offered at Rubio's complimentary salsa bar. The Company's menu also includes reduced fat Healthmex offerings and Kid Pesky meals designed for children.

Rubio's strives to promote an enjoyable overall customer experience by creating a fun and relaxed setting in each of its restaurants. Unlike the generic decor of a typical fast-food restaurant, its restaurants are designed to create an authentic personality capturing the relaxed, beach-like atmosphere of the Baja region of Mexico. Rubio's design elements include colorful Mexican tiles, saltwater aquariums with tropical fish, Baja beach photos and tropical prints, surfboards on the walls and authentic palm-thatched patio umbrellas, or palapas, in most existing locations.

The Company's restaurants offer guests food typically associated with sit-down, casual dining restaurants at prices generally lower than those at casual dining restaurants. In addition to favorable prices, the Company offers the convenience and rapid delivery of a traditional quick-service format. Rubio's provides guests a clean and comfortable environment in which to enjoy their meal on site. The Company also offers guests the convenience of take-out service.

The Company positions its restaurants in the quick-service Mexican food segment of the industry. In this segment, Rubio's direct competitors include Baja Fresh, La Salsa and Chipotle. The Company also competes indirectly with full-service Mexican restaurants including Chevy's, Chi Chi's and El Torito, as well as fast-food restaurants, particularly those focused on Mexican food, such as Taco Bell and Del Taco.

Financial Main Page | IGHRM Main Page

Disclaimer:
The data included within the Financial section is solely for information and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly urged to obtain professional advice with qualified individuals or corporations for any investments of funds.