Chili's 2008 Annual Report Download - page 67

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BRINKER INTERNATIONAL, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
15. CONTINGENCIES (Continued)
the California Court of Appeal decertified the class action on all claims with prejudice. We cannot
anticipate what actions the plaintiff will take in response to this ruling, but we intend to vigorously defend
our position. It is not possible at this time to reasonably estimate the possible loss or range of loss, if any.
We are engaged in various other legal proceedings and have certain unresolved claims pending. The
ultimate liability, if any, for the aggregate amounts claimed cannot be determined at this time. However,
management, based upon consultation with legal counsel, is of the opinion that there are no matters
pending or threatened which are expected to have a material adverse effect, individually or in the
aggregate, on our consolidated financial condition or results of operations.
16. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The following table summarizes the unaudited consolidated quarterly results of operations for fiscal
2008 and 2007 (in thousands, except per share amounts):
Fiscal Year 2008
Quarters Ended
Sept. 26 Dec. 26 March 26 June 25
Revenues ............................... $1,054,686 $1,029,785 $1,077,183 $1,073,569
Income (loss) before provision for income taxes . . . $ 52,863 $ 78,106 $ (70,158) $ (5,957)
Income (loss) from continuing operations ........ $ 37,600 $ 54,480 $ (38,818) $ (1,540)
Basic net income (loss) per share from continuing
operations ............................. $ 0.35 $ 0.53 $ (0.38) $ (0.02)
Diluted net income (loss) per share from
continuing operations .................... $ 0.34 $ 0.52 $ (0.38) $ (0.02)
Basic weighted average shares outstanding ....... 106,464 103,498 101,175 101,267
Diluted weighted average shares outstanding ..... 109,155 105,339 102,377 102,717
Fiscal Year 2007
Quarters Ended
Sept. 27 Dec. 27 March 28 June 27
Revenues ............................... $1,039,935 $1,070,587 $1,123,428 $1,142,954
Income before provision for income taxes ....... $ 69,953 $ 64,357 $ 77,327 $ 106,833
Income from continuing operations ............ $ 47,639 $ 44,192 $ 54,571 $ 83,647
Basic net income per share from continuing
operations ............................. $ 0.38 $ 0.36 $ 0.45 $ 0.73
Diluted net income per share from continuing
operations ............................. $ 0.38 $ 0.35 $ 0.43 $ 0.71
Basic weighted average shares outstanding ....... 124,280 123,451 122,019 114,606
Diluted weighted average shares outstanding ..... 126,098 126,641 125,712 118,032
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