Business Context and Reporting Period
Company: Red Robin Gourmet Burgers, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: March 28, 2005
Context: The Company is reporting a further delay in filing its annual report on Form 10-K for the fiscal year ended December 26, 2004, which was originally due on March 28, 2005.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report serves solely as a notification of a filing delay and does not contain financial statement data.
Material Changes
- Filing Status: The Company has missed the statutory deadline for its 2004 Form 10-K.
- Reason for Delay: The delay is due to a continuing review of the Company's lease accounting practices.
- Regulatory Context: The review is being conducted in light of additional guidance provided by the SEC Staff regarding the proper accounting treatment for rent holidays.
Guidance, Outlook, and Risks
- Outlook: The Company expects to file the 2004 Form 10-K promptly following the completion of the lease accounting review.
- Risks/Contingencies: The primary risk identified is the uncertainty surrounding the accounting treatment of rent holidays, which has prevented the timely issuance of audited financial statements.
- Management Commentary: Management has issued a press release (Exhibit 99.1) incorporated by reference to communicate this delay to the market.
Investor Verification Checklist
- Verify the status of the SEC Staff's guidance on rent holiday accounting and its specific impact on Red Robin's lease portfolio.
- Monitor for the subsequent filing of the Form 10-K to assess the magnitude of any required restatements or adjustments to prior periods.
- Review the attached press release (Exhibit 99.1) for any additional details on the timeline for the accounting review.