Diversified Restaurant Holdings, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the third quarter, the company's revenue was $37,491,751 against $39,262,940 a year ago. The decrease in sales in the third quarter was primarily the result of reduced traffic. The prior-year period also benefited from a significant boxing event that contributed 160 basis points to the same-store sales decline in the third quarter. Operating loss was $682,517 against operating profit of $320,479 a year ago. Loss from continuing before income taxes was $2,267,016 against $1,476,397 a year ago. Loss from continuing operations was $1,761,372 or $0.06 per basic and diluted share against $543,240 or $0.02 per basic and diluted share a year ago. Net loss was $1,761,372 or $0.06 per basic and diluted share against $558,394 or $0.02 per basic and diluted share a year ago. EBITDA was $3,144,490 against $3,581,312 a year ago. Adjusted EBITDA was $3,262,633 against $4,321,996 a year ago. Restaurant–Level EBITDA was $5,311,856 against $6,246,527 a year ago.

For the nine months, the company's revenue was $114,063,781 against $123,535,506 a year ago. Operating profit was $1,116,026 against $3,408,373 a year ago. Loss from continuing before income taxes was $3,671,288 against $1,554,456 a year ago. Loss from continuing operations was $2,709,753 or $0.10 per basic and diluted share against $39,003 a year ago. Net loss was $2,709,753 or $0.10 per basic and diluted share against $136,364 a year ago. Net cash provided by operating activities of continuing operations was $8,126,239 against $9,797,011 a year ago. Net cash provided by operating activities was $8,126,239 against $9,699,650 a year ago. Purchases of property and equipment were $1,276,122 against $4,453,861 a year ago. EBITDA was $11,223,075 against $13,860,075 a year ago. Adjusted EBITDA was $12,039,436 against $14,934,606 a year ago. Restaurant–Level EBITDA was $17,750,182 against $21,120,959 a year ago.

For the quarter, the company announced impairment and loss on asset of $918,399 against $16,578 a year ago, which reflects the full write-off of fixed assets at 1 small Missouri location that was acquired in 2015.

The company anticipates its capital expenditures will approximate $1.5 million in fiscal 2018.