<PAGE>

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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                               ----------------

                                   FORM 10-Q

                               ----------------

  [X]QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                 For the quarterly period ended March 26, 2001

  [_]TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                 For the transition period from       to

                         Commission File Number 1-9684

                         CHART HOUSE ENTERPRISES, INC.
             (Exact name of registrant as specified in its charter)

<TABLE>
<CAPTION>
                  Delaware                                       33-0147725
<S>                                            <C>
       (State or other jurisdiction of                        (I.R.S. Employer
       Incorporation or organization)                       Identification No.)
</TABLE>

             640 North LaSalle, Suite 295, Chicago, Illinois, 60610
          (Address of principal executive offices, including zip code)

                                 (312) 266-1100
              (registrant's telephone number, including area code)

   Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter periods that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes  X  No

   Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of April 30, 2001:

                   Common Stock ($.01 par value) - 11,809,678

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--------------------------------------------------------------------------------
<PAGE>

                         PART I--FINANCIAL INFORMATION

Item 1. Financial Statements.

                 CHART HOUSE ENTERPRISES, INC. AND SUBSIDIARIES

                          CONSOLIDATED BALANCE SHEETS

                       (In Thousands, Except Share Data)

<TABLE>
<CAPTION>
                                                       March 26,   December 25,
                        ASSETS                            2001         2000
                        ------                         ----------  ------------
                                                       (Unaudited)
<S>                                                    <C>         <C>
Current Assets:
 Cash and Equivalents................................. $     407     $    383
 Accounts Receivable..................................     2,416        3,764
 Inventories..........................................     2,468        2,401
 Prepaid Expenses and Other Current Assets............       836          888
                                                       ---------     --------
   Total Current Assets...............................     6,127        7,436
                                                       ---------     --------
Equipment and Improvements:
 Equipment............................................    37,354       35,387
 Leasehold Interests & Improvements...................    76,302       71,596
 Construction in Progress.............................     2,300        9,518
                                                       ---------     --------
                                                         115,956      116,501
Less: Accumulated Depreciation and Amortization.......    39,126       39,311
                                                       ---------     --------
   Net Equipment and Improvements.....................    76,830       77,190
                                                       ---------     --------
Leased Property under Capital Leases, Net.............     1,929        1,979
Intangible Assets, Net................................    15,030       15,247
Other Assets, Net.....................................     6,771        6,543
                                                       ---------     --------
   Total Other Assets, Net............................    23,730       23,769
                                                       ---------     --------
                                                       $ 106,687     $108,395
                                                       =========     ========
         LIABILITIES AND STOCKHOLDERS' EQUITY
         ------------------------------------
Current Liabilities:
 Current Portion of Long-Term Obligations............. $   4,460     $  4,210
 Accounts Payable.....................................    16,724       19,596
 Accrued Liabilities..................................    12,276       12,720
                                                       ---------     --------
   Total Current Liabilities..........................    33,460       36,526
                                                       ---------     --------
Deferred Payments on Acquisition......................        63          250
Long-Term Debt........................................    21,600       20,600
Long-Term Debt to Related Parties.....................     4,677        2,000
Long-Term Obligations under Capital Leases............     3,005        3,058
                                                       ---------     --------
   Total Non-Current Liabilities......................    29,345       25,908
                                                       ---------     --------
Stockholders' Equity:
 Preferred Stock, $1.00 par value, authorized
  10,000,000 shares; none outstanding.................       --           --
 Common Stock, $.01 par value, authorized 30,000,000
  shares; 11,806,666 and 11,775,191 shares
  outstanding in 2001 and 2000, respectively..........       118          118
 Additional Paid-In Capital...........................    61,345       61,276
 Retained Deficit.....................................   (17,581)     (15,433)
                                                       ---------     --------
   Total Stockholders' Equity.........................    43,882       45,961
                                                       ---------     --------
                                                       $ 106,687     $108,395
                                                       =========     ========
</TABLE>

   The accompanying notes are an integral part of these consolidated balance
                                    sheets.

                                       1
<PAGE>

                 CHART HOUSE ENTERPRISES, INC. AND SUBSIDIARIES

                     CONSOLIDATED STATEMENTS OF OPERATIONS

                     (In Thousands, Except Per Share Data)
                                  (Unaudited)

<TABLE>
<CAPTION>
                              First Quarter   First Quarter
                             Ended March 26, Ended March 27,
                                  2001            2000
                             --------------- ---------------
<S>                          <C>             <C>
Revenues....................     $36,268         $32,880
                                 -------         -------
Costs and Expenses:
  Cost of Sales.............      11,533          10,740
  Restaurant Labor..........      10,392           9,513
  Other Operating Costs.....       7,417           5,625
  Rent......................       2,530           1,550
                                 -------         -------
    Total Restaurant Costs..      31,872          27,428
  Selling, General and
   Administrative Expenses..       3,258           3,239
  Depreciation and
   Amortization.............       1,859           1,670
  Pre-opening Costs.........         364             235
  Other (Income) Expense....        (900)            --
  Loss on Disposal of
   Assets...................         687             --
  Interest Expense..........       1,276             545
                                 -------         -------
    Total Costs and
     Expenses...............      38,416          33,117
                                 -------         -------
Loss Before Income Taxes....      (2,148)           (237)
Provision for Income Taxes..         --              --
                                 -------         -------
Net Loss....................     $(2,148)        $  (237)
                                 =======         =======
Net Loss Per Common Share--
 Basic and Diluted..........     $  (.18)        $  (.02)
Weighted Average Shares
 Outstanding................      11,806          11,775
</TABLE>


 The accompanying notes are an integral part of these consolidated statements.

                                       2
<PAGE>

                 CHART HOUSE ENTERPRISES, INC. AND SUBSIDIARIES

                     CONSOLIDATED STATEMENTS OF CASH FLOWS

                                 (In Thousands)
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                    First Quarter First Quarter
                                                     Ended March   Ended March
                                                      26, 2001      27, 2000
                                                    ------------- -------------
<S>                                                 <C>           <C>
Cash Flows from Operating Activities:
Net Loss..........................................     $(2,148)      $  (237)
Adjustments to Reconcile Net Loss to Cash Flows
 from Operating Activities:
  Depreciation and Amortization...................       1,859         1,670
  Amortization of Debt Issuance Costs.............          64            43
  Loss on Disposal of Assets......................         687           --
  Change in Net Current Liabilities...............      (1,016)       (1,350)
                                                       -------       -------
    Cash (Used in) Provided by Operating
     Activities...................................        (554)          126
Cash Flows from Investing Activities:
  Expenditures for Property and Equipment.........      (2,882)       (4,409)
  Additions to Other Assets.......................          (7)          (16)
  Proceeds from Disposition of Assets.............         --          1,526
                                                       -------       -------
    Cash Used in Investing Activities.............      (2,889)       (2,899)
Cash Flows from Financing Activities:
  Debt/Equity Issuance Costs......................        (289)           --
  Principal Payments on Obligations under Capital
   Leases.........................................         (53)          (47)
  Payments under Deferred Acquisition Agreement...        (187)         (187)
  Net Borrowings under Revolving Credit Agreement.       2,000         2,950
  Payments of Long Term Debt......................        (750)          --
  Proceeds of Long Term Debt from Related Parties.       2,677           --
  Proceeds from Issuance of Common Stock..........          69           --
                                                       -------       -------
    Cash Provided by Financing Activities.........       3,467         2,716
                                                       -------       -------
Increase (Decrease) in Cash.......................          24           (57)
Cash, Beginning of Period.........................         383           424
                                                       -------       -------
Cash, End of Period...............................     $   407       $   367
                                                       =======       =======
The Change in Net Current Liabilities is Comprised
 of the Following:
  Decrease in Accounts Receivable.................     $ 1,348       $   462
  (Increase) Decrease in Inventories..............         (67)          220
  Decrease (Increase) in Prepaid Expenses and
   Other Current Assets...........................          52          (426)
  Decrease in Accounts Payable....................      (1,905)         (965)
  Decrease in Accrued Liabilities.................        (444)         (641)
                                                       -------       -------
Change in Net Current Liabilities.................     $(1,016)      $(1,350)
Supplemental Cash Flow Disclosures:
  Cash Paid During the Period for:
    Interest (Net of Amount Capitalized)..........     $   871       $   539
    Income Taxes (Net of Refunds).................     $    49       $   --
</TABLE>

 The accompanying notes are an integral part of these consolidated statements.


                                       3
<PAGE>

                CHART HOUSE ENTERPRISES, INC. AND SUBSIDIARIES
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                March 26, 2001
                                  (Unaudited)

(1) Basis of Presentation

   The accompanying consolidated financial statements of Chart House
Enterprises, Inc. and subsidiaries (the "Company") for the quarterly periods
ended March 26, 2001 and March 27, 2000 have been prepared in accordance with
generally accepted accounting principles, and with the instructions to Form
10-Q. These financial statements have not been audited by independent public
accountants, but include all adjustments (consisting of normal recurring
adjustments) which are, in the opinion of management, necessary for a fair
presentation of the financial condition, results of operations and cash flows
for such periods. However, these results are not necessarily indicative of
results for any other interim period or for the full year.

   The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities as of the date of the
financial statements and the reported amounts of revenues and expenses during
the reporting period. Actual results could differ from those estimates.

   Certain information and footnote disclosures normally included in financial
statements in accordance with generally accepted accounting principles have
been omitted pursuant to requirements of the Securities and Exchange
Commission. Management believes that the disclosures included in the
accompanying interim financial statements and footnotes are adequate, but
should be read in conjunction with the consolidated financial statements and
notes thereto included in the Company's annual report on Form 10-K for the
year ended December 25, 2000.

   Certain items previously reported in specific financial statement captions
have been reclassified to conform to the 2001 presentation.

(2) Asset Dispositions

   In late 1999, the Company committed to an expansion plan of both the Chart
House concept and the Angelo and Maxie's concept. This plan included a
reorganization of operations and, as a result, eleven restaurants were
identified for disposal. By the end of first quarter 2001, ten of the eleven
restaurants identified for disposal had ceased operations and three remained
held for disposal. Management anticipates disposal of these restaurants in
2001.

   The restaurants identified for disposal in the 1999 plan had revenues of
approximately $559,000 and $2,937,000 in the first quarter 2001 and 2000
respectively. Net income contributed by these restaurants was approximately $0
and $262,000 in the first quarter 2001 and 2000 respectively.

                                       4
<PAGE>

   The following table illustrates the amounts paid and charged against the
liability for severance, occupancy and other exit costs in 2001.

<TABLE>
     <S>                                                             <C>
     Liability at December 25, 2000.................................  1,604,000
     Amounts Paid During First Quarter 2001.........................   (130,000)
                                                                     ----------
     Liability at March 26, 2001.................................... $1,474,000
</TABLE>

   The liability at March 26, 2001 includes severance due 21 restaurant
employees and is included in Accrued Liabilities in the accompanying
consolidated balance sheets.

(3) Pre-opening Costs

   Pre-opening costs include hiring and training of employees for new
restaurants and are expensed as incurred. The Company opened one restaurant in
the first quarter of 2001 and expects to open a second restaurant in the
second quarter of 2001.

(4) Debt Compliance

   The Company is in compliance with all debt covenants as of March 26, 2001.

(5) Contingencies

   The Company is contingently liable, in certain circumstances, for lease
obligations of properties previously operated by the Company and subleased to
third parties. The Company is not aware of default under any of these
agreements.

(6) Seasonality

   The Company's business is seasonal in nature with revenues and net income
for the second and third quarters being greater than in the first and fourth
quarters.

(7) Sale of Ground Lease

   During the first quarter 2001, the Company sold the rights to a ground
lease for one restaurant that had been closed for major remodeling. The
company received proceeds of $900,000, which is recorded as Other Income in
the accompanying Consolidated Statements of Operations.

                                       5
<PAGE>

Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations.

 Results of Operations

   The following is a comparative analysis of the results of restaurant
operations for the quarterly periods ended March 26, 2001 and March 27, 2000.
The results of restaurant operations for the first quarter of 2001 are not
necessarily indicative of the results to be expected for the fiscal year
ending December 31, 2001. At March 26, 2001 the Company operated 40 Chart
House restaurants, one Peohe's restaurant, and six Angelo and Maxie's
steakhouses. Of those restaurants, one restaurant has been designated for
closure. Management estimates that the restaurant will be closed in 2001.

   The dollar amounts in the table below are in thousands.

<TABLE>
<CAPTION>
                                            First Quarter      First Quarter
                                           Ended March 26,    Ended March 27,
                                                2001                2000
                                         ------------------- -------------------
                                           Dollars   Percent  Dollars    Percent
                                         ----------- ------- ----------  -------
                                         (unaudited)         (unaudited)
<S>                                      <C>         <C>     <C>         <C>
Restaurant Revenues.....................   $36,268    100.0   $32,880     100.0
                                           =======    =====   =======     =====
Restaurant Costs and Expenses:
  Cost of Sales.........................    11,533     31.8    10,740      32.7
  Restaurant Labor......................    10,392     28.7     9,513      28.9
  Other Operating Costs.................     7,417     20.4     5,625      17.1
  Rent..................................     2,530      7.0     1,550       4.7
                                           -------    -----   -------     -----
    Total Restaurant Costs..............    31,872     87.9    27,428      83.4
                                           -------    -----   -------     -----
  Restaurant Operating Income...........   $ 4,396     12.1   $ 5,452      16.6
                                           =======    =====   =======     =====
</TABLE>

   Total restaurant revenues for the first quarter increased by $3,388,000
from 2000 to 2001. The table below reflects the impact on total revenues
resulting from the opening of seven new restaurants and the strategic decision
to dispose of eleven restaurants.

<TABLE>
     <S>                                                            <C>
     New Restaurants............................................... $ 6,477,000
     Permanent Closure of Restaurants..............................  (2,210,000)
     Comparable Restaurants (excluding held for disposal)..........    (710,000)
     Restaurant Held for Disposal..................................    (169,000)
                                                                    -----------
       Total.......................................................   3,388,000
</TABLE>

   Comparative restaurant revenues for the 38 Chart House restaurants,
excluding the restaurant held for disposal, and one Angelo and Maxie's
steakhouse that were open for the entire first quarter of each year decreased
2.2%. Management attributes this decline in revenues primarily to unseasonable
cold and/or wet weather in March 2001 compared with rather mild weather in
March of the 2000 quarter. Adverse weather conditions affect the Company's
ability to utilize outdoor seating at a number of its restaurants in addition
to reducing customer visits in general.

   Cost of sales as a percentage of restaurant revenues decreased 0.9% in the
first quarter of 2001 compared with the first quarter of 2000. This margin
improvement was attributable to the continued emphasis on generally lower cost
seafood entrees on the Chart House menus. Cost of sales at the Angelo and
Maxie's steakhouses is higher as a result of significantly more beef entrees
and large portion sizes. Accordingly, the Company anticipates that its cost of
sales percentage will increase as relative revenue contribution from the
Angelo and Maxie's steakhouse increases. Additionally, profit margins
benefited from price increases for select menu items.

   Restaurant labor expense decreased between the 2001 and 2000 periods. This
is primarily due to sales leverage in the higher volume restaurants. Other
operating costs increased in the 2001 quarter by 3.3% of sales. This increase
was primarily comprised of higher insurance, employee benefit, and energy
costs.

                                       6
<PAGE>

   Selling, general and administrative expenses in first quarter 2001 have
remained comparable to first quarter 2000. Increases in marketing expenditures
have been offset by decreases in business travel and salary expense during
first quarter 2001 compared with first quarter 2000. Depreciation and
amortization has increased from the first quarter of 2000 due to the increased
number of operating restaurants in 2001. Preopening expenses in 2001 primarily
reflect salaries, benefits and training costs for new employees at two Angelo
and Maxie's steakhouses. One of the restaurants opened at the end of the first
quarter. The second restaurant is scheduled to open in the second quarter of
2001. No significant preopening expenses are anticipated in the third or
fourth quarter of 2001. Interest expense has increased as a result of higher
average debt balances, including the issuance of debt to related parties, and
higher interest rates.

 Asset Dispositions

   In late 1999, the Company identified eleven restaurants for disposal. By
the end of first quarter 2001, ten of the eleven restaurants identified for
disposal had ceased operations and three remained held for disposal.
Management anticipates disposal of these restaurants in 2001.

   The restaurants identified for disposal in the 1999 plan had revenues of
approximately $559,000 and $2,937,000 in the first quarter 2001 and 2000
respectively. Net income contributed by these restaurants was approximately $0
and $262,000 in the first quarter 2001 and 2000, respectively.

   The following table illustrates the amounts paid and charged against the
liability for severance, occupancy and other exit costs in 2001.

<TABLE>
     <S>                                                             <C>
     Liability at December 25, 2000.................................  1,604,000
     Amounts Paid During First Quarter 2001.........................   (130,000)
                                                                     ----------
     Liability at March 26, 2001.................................... $1,474,000
</TABLE>

   The liability at March 26, 2001 includes severance due 21 restaurant
employees and is included in Accrued Liabilities in the accompanying
consolidated balance sheets.

 Liquidity and Capital Resources

<TABLE>
<CAPTION>
                                                   First Quarter First Quarter
                                                       2001          2000
                                                   ------------- -------------
                                                    (in "000s)     (in "000s)
     <S>                                           <C>           <C>
     Cash provided by (used in) Operating
      Activities..................................    $  (554)      $   126
     Expenditures for Property and Equipment......     (2,882)       (4,409)
     Proceeds from Disposition of Assets..........         --         1,526
     Cash used in other Investing Activities......         (7)          (16)
     Cash provided by Financing Activities........      3,467         2,716
                                                      -------       -------
       Change in cash.............................    $    24       $   (57)
                                                      =======       =======
</TABLE>

   Long-term debt consists of borrowings under the Company's Revolving Credit
and Term Loan Agreement (the "Agreement") and subordinated borrowings from
related parties (the "Notes"). Quarterly principal payments of $750,000 under
the term loan portion of the Agreement will continue through the third quarter
of 2001, followed by quarterly payments of $1,000,000 through the third
quarter of 2003 and quarterly payments thereafter of $1,250,000 until March
31, 2004. During the first quarter of 2001, the Company increased its
borrowings under the revolving credit portion of the Agreement by $2,000,000
and increased its borrowings under the Notes by $2,677,000. Proceeds were used
to pay down outstanding liabilities to construction vendors. At March 26,
2001, the Company had outstanding borrowings of $13,100,000 under the
Agreement and approximately $2,500,000 in available credit. Borrowings under
the Notes were $4,677,000 at March 26, 2001 with approximately $2,400,000 in
available credit. The Company was in compliance with all covenants of the
Agreement through March 26, 2001. Non-compliance could result in an
acceleration of amounts due, which would significantly and negatively impact
our financial condition and operating results.

                                       7
<PAGE>

   Capital expenditures for the first quarter of 2001 were primarily for the
construction of two new Angelo and Maxie's steakhouses. Capital expenditures
for each of the remaining three quarters of 2001 are expected to decrease and
support ongoing improvements and refurbishing of existing restaurants.

   The Company received $900,000 in proceeds during first quarter 2001 upon
the sale of a ground lease from a previously operated restaurant. These
proceeds were used to fund operating activities.

   The Company has scheduled a rights offering for the second quarter of 2001.
Net proceeds upon closing of this offering are expected to be approximately
$7.4 million. The terms of the offering provide for a standby purchaser to
purchase all unissued rights. The proceeds of the rights offering will be used
primarily to pay outstanding liabilities to construction vendors as well as to
pay down borrowings under the Notes and other expenses.

   The working capital deficit decreased from $29.1 million at the end of the
2000 fiscal year to $27.3 million at the end of the first quarter 2001. In the
opinion of management, cash flows from operations, availability under the
Agreement, availability under the Notes, and proceeds from the rights offering
will be sufficient to fund working capital obligations as they come due and
regular capital expenditure commitments for the next twelve months. The
Company may require alternative sources of long-term financing. However, no
assurance can be given that such financing will be available or that it will
be available on terms satisfactory to the Company.

 Earnings (Loss) Per Share

   During the second quarter of 2001 the Company anticipates completion of a
rights offering through which it will issue approximately 3.8 million shares
of a convertible preferred stock. See the Company's annual report on Form 10-K
for further discussion. The preferred shares are expected to have a beneficial
conversion feature. Any common shares issued as a result of conversion and
dividends paid to preferred shareholders will have a dilutive effect on
earnings per share calculations in the future.

 Seasonality

   Historically, the Company's business is seasonal in nature with revenues
and net income for the second and third quarters being greater than in the
first and fourth quarters.

 Other Information

   Certain of the statements contained in this report may be forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking statements
include financial projections, estimates and statements regarding plans,
objectives and expectations of the Company and its management. Examples of
certain forward-looking statements are the Company's intentions and abilities
to dispose of assets, remodel assets, or acquire assets, the intentions and
abilities to increase or decrease outstanding borrowings, the intentions and
abilities to control or mitigate changes in any operating costs, and the
intentions and abilities to maintain current levels of comparable restaurant
revenues or operating results. Although the Company believes that the
expectations reflected in all such forward-looking statements are based upon
reasonable assumptions, it can give no assurance that its expectations will be
achieved. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Some of the known and unknown risks, uncertainties
and other factors referred to above include, but are not limited to, the
following: changes in customer demand due to economic factors, competitive
factors, pricing pressures, availability of employees, changes in demographic
trends, the ability to open new restaurants successfully and to successfully
integrate any acquired businesses, litigation involving employment, liability
and other issues, weather and other acts of God.

                                       8
<PAGE>

                           PART II--OTHER INFORMATION

Item 6. Exhibits and Reports on Form 8-K.

   (b) Reports on Form 8-K.

     The Company filed with the SEC a report on Form 8-K dated February 23,
2001. The Company reported it had secured additional subordinated financing and
that it is entering into agreements providing for a rights offering to the
Company's existing stockholders.

                                       9
<PAGE>

                                   SIGNATURES

   Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                          Chart House Enterprises, Inc.
                                           (Registrant)

                                                   /s/ Thomas J. Walters
                                          By: _________________________________
                                                     Thomas J. Walters
                                                  Chief Executive Officer

Date: May 7, 2001

                                                   /s/ Kenneth R. Posner
                                          By: _________________________________
                                                     Kenneth R. Posner
                                               President and Chief Financial
                                                          Officer

Date: May 7, 2001

                                       10