Build-A-Bear Workshop 2011 Annual Report Download - page 30

BUILD-A-BEAR WORKSHOP, INC. 2011 FORM 10-K
RECENT SALES OF UNREGISTERED SECURITIES
There were no sales of unregistered securities during the
fourth quarter of fiscal 2011.
DIVIDEND POLICY
We anticipate that we will retain any future earnings to
support operations, to finance the growth and development of
our business and to repurchase shares of our common stock
from time to time and we do not expect, at this time, to pay
cash dividends in the future. Any future determination relating
to our dividend policy will be made at the discretion of our
board of directors and will depend on a number of factors,
including future earnings, capital requirements, financial
conditions, future prospects and other factors that the board of
directors may deem relevant. Additionally, under our credit
agreement, we are prohibited from declaring dividends
without the prior consent of our lender, subject to certain
exceptions, as described in “Management’s Discussion and
Analysis of Financial Condition and Results of Operations —
Liquidity and Capital Resources”.
ITEM 6. SELECTED FINANCIAL DATA
Throughout this Annual Report on Form 10-K, we refer to our
fiscal years ended December 31, 2011, January 1,
2011, January 2, 2010, January 3, 2009 and December 29,
2007, as fiscal years 2011, 2010, 2009, 2008 and 2007,
respectively. Our fiscal year consists of 52 or 53 weeks, and
ends on the Saturday nearest December 31 in each
year. Fiscal years 2011, 2010, 2009 and 2007 included
52 weeks and fiscal year 2008 included 53 weeks. All of our
fiscal quarters presented in this Annual Report on Form 10-K
included 13 weeks, with the exception of the fourth quarter of
fiscal 2008 which included 14 weeks. When we refer to our
fiscal quarters, or any three month period ending as of a
specified date, we are referring to the 13-week or 14-week
period prior to that date.
The following table sets forth, for the periods and dates
indicated, our selected consolidated financial and operating
data. The balance sheet data as of December 31, 2011
and January 1, 2011 and the statement of operations and
other financial data for our fiscal years ended December 31,
2011, January 1, 2011 and January 2, 2010 are derived
from our audited financial statements included elsewhere in
this Annual Report on Form 10-K. The balance sheet data as
of January 2, 2010, January 3, 2009 and December 29,
2007, and the statement of income and other financial data
for our fiscal years ended January 3, 2009 and
December 29, 2007 are derived from our audited
consolidated financial statements that are not included in this
Annual Report on Form 10-K. You should read our selected
consolidated financial and operating data in conjunction with
our consolidated financial statements and related notes and
with “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” appearing elsewhere in
this Annual Report on Form 10-K.
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