Business Context and Reporting Period
This Form 8-K Current Report was filed by Red Robin Gourmet Burgers, Inc. on May 20, 2003. The filing primarily addresses an amendment to the company's credit facility and incorporates by reference a press release dated May 22, 2003, regarding financial results for the sixteen weeks ended April 20, 2003.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, or liquidity ratios. The financial results for the sixteen weeks ended April 20, 2003, are contained in the attached press release (Exhibit 99.1) and are not detailed within the body of this 8-K report.
Debt and Liquidity:
- Revolving Credit Facility: Increased from $40.0 million to $85.0 million.
- Term Extension: The facility term was extended to expire on May 19, 2006.
- Administrative Agent: Wachovia Bank, National Association.
Material Changes
The primary material change reported is the amendment of the three-year revolving credit facility originally entered into on July 24, 2002. The borrowing capacity was more than doubled to $85.0 million, and the maturity date was extended by approximately one year.
Guidance, Outlook, and Risks
The filing does not contain specific forward-looking guidance, management commentary on future operations, or a detailed discussion of risks and contingencies beyond the standard incorporation of the credit agreement. The press release referenced in Item 9 provides selected financial results but is explicitly noted as not being "filed" for purposes of Section 18 of the Exchange Act.
Investor Verification Checklist
- Verify the specific financial results (revenue, net income, same-store sales) for the sixteen weeks ended April 20, 2003, by reviewing the attached press release (Exhibit 99.1).
- Review the full terms of the Amended and Restated Credit Agreement (Exhibit 10.1) for covenants, interest rates, and fees associated with the new $85.0 million facility.
- Confirm the utilization rate of the new credit facility to assess current liquidity needs.