Bojangles CEO: 'Made A Decision That We Are Not Going To Give Quarter-To-Quarter Guidance As We Go Forward'

Bojangles Inc BOJA reported its first quarterly results after going public recently. Revenue for the quarter increased 19.2 percent year-over-year to $114.6 million and diluted EPS rose to $0.17 from $0.14 in the same quarter last year. Along with the quarterly earnings the company also provided annual guidance for the fiscal year 2015, but refrained from providing guidance for the next quarter.

Clifton Rutledge, Bojangles CEO, was on CNBC recently to discuss why the company has decided not to provide quarter-to-quarter guidance.

Well Within Our Range

“We are comfortable, we have just made a decision that we are not going to give quarter-to-quarter guidance as we go forward,” Rutledge said. “We are well within our range of what we have told the analysts from when we started this and again we have to do this again in about 60 days for our next earnings release. But again, it’s just something we have decided as a company that we are not going to give quarter-to-quarter results.”

We Made A Decision

Rutledge was asked that being a newly listed company wouldn’t it have been better if it provided more information related to its quarterly expectations. He replied, “I understand that and it’s just something that we are as far as our yearly outlook, as far as the guidance that we have given, as far as the revenues that we are looking at.”

“We are going to open 50 to 57 stores this year. We have got incredible [wide space] forwards to continue to growing not just this year, but in the future and then again it’s just something we made a decision that we are just going to go on with projections we have given and again we had a great first-quarter, we are proud of that,” Rutledge said.