Red Robin Gourmet Burgers (NASDAQ:RRGB) released its first-quarter results. So what sound is this bird singing? A warble, due to a wobble in sales? A chirp, from a burp in margins? A cheep, as in "Buy me. I'm cheap, cheap, cheap?" With our investing binoculars in hand, let's focus in for a closer look.

Red Robin's revenues soared higher by 22.6% to $143.1 million. Comparable restaurant sales from company-owned units were up 5.7%, and franchise-owned units saw comparable sales increase 7.2% in the United States. Shareholders certainly have to like the sight of these numbers.

The company's improvement in operating margins was also impressive. Operating income for the quarter was $13 million, with margins of 9.4%. This compares favorably to operating profit margins of 7.2% from the year-ago period. A 30.6% betterment to this metric might just get investors singing.

Because of Red Robin's healthy revenue growth and strong profit margins, its net income shot up to $8 million, compared to $4.9 million from a year ago, and earnings per share grew 60% to $0.48.

The company now expects to earn in a range of $1.76 to $1.78 per share on revenues of approximately $498 million for the year. If Red Robin can meet these expectations, its stock will trade at a price-to-earnings ratio of 29. On the surface, this bird doesn't sound cheap, but when you consider its revenue and earnings growth, as well as its improving margins, it doesn't appear terribly expensive either.

Burger eaters looking for a casual dining atmosphere have plenty to choose from. From Friendly Ice Cream (AMEX:FRN) to Applebee's (NASDAQ:APPB), Ruby Tuesday (NYSE:RI) to O'Charley's (NASDAQ:CHUX), there is no shortage of options for consumers. The challenge for these companies is to offer a product that can distinguish itself from the competition. Red Robin appears to have found a recipe that works. For potential investors looking take flight with this soaring bird, your best bet may simply be to buy on any weakness.

How does the competition stack up? Check out these Foolish takes for more reading:

Fool contributor Jeremy MacNealy does not own shares in any of the companies mentioned.