Cracker Barrel 2008 Annual Report Download - page 37

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35
(a) Includes charges of $877 before taxes for impairment and store closing costs from continuing operations.
(b) Due to the divestiture of Logan’s Roadhouse, Inc. (“Logan’s”) in fiscal 2007, Logan’s is presented as a discontinued operation.
(c) Fiscal 2007 consisted of 53 weeks while all other periods presented consisted of 52 weeks. The estimated impact of the additional week was to
increase consolidated fiscal 2007 results as follows: total revenue, $46,283; store operating income, 0.1% of total revenue; operating income,
0.2% of total revenue; income from continuing operations, 0.1% of total revenue; and diluted income from continuing operations per share, $0.14.
(d) We completed a 5,434,774 common share tender offer and repurchased 3,339,656 common shares in the open market (see Note 7 to the
Consolidated Financial Statements). We redeemed our zero-coupon convertible notes (see Note 8 to the Consolidated Financial Statements).
(e) Includes charges of $5,369 before taxes for impairment and store closing costs from continuing operations. We completed a 16,750,000 common
share repurchase by means of a tender offer. We adopted SFAS 123R, “Share-Based Payment,” on July 30, 2005.
(f) Includes charges of $431 before taxes for impairment costs.
(g) Includes in general and administrative expense charges of $5,210 before taxes, as a result of settlement of certain litigation.
(h) On September 20, 2007, our Board of Directors (the “Board”) increased the quarterly dividend to $0.18 per share per quarter (an annual
equivalent of $0.72 per share) from $0.14 per share per quarter. We paid dividends of $0.18 per share during the second, third and fourth
quarters of 2008. Additionally, on September 18, 2008, the Board increased the quarterly dividend to $0.20 per share, declaring a dividend
payable on November 5, 2008 to shareholders of record on October 17, 2008.
(i) Working capital (deficit) excludes discontinued operations.
(j) The increase in other long-term obligations in 2008 as compared to prior years is primarily due to the increase in our interest rate swap liability
(see Note 2 to the Consolidated Financial Statements) and the adoption of FIN 48, “Accounting for Uncertainty in Income Taxes – an
interpretation of FASB Statement No. 109” (see Note 12 to the Consolidated Financial Statements).
(k) Average unit volumes include sales of all stores. Fiscal 2007 includes a 53rd week while all other periods presented consist of 52 weeks.
(l) Comparable store sales and traffic consist of sales and calculated number of guests, respectively, of units open at least six full quarters at the
beginning of the year; and are measured on comparable calendar weeks.
MARKET PRICE AND DIVIDEND INFORMATION
The following table indicates the high and low sales prices of our common stock, as reported by The Nasdaq Global Market,
and dividends paid for the quarters indicated.
Fiscal Year 2008 Fiscal Year 2007
Prices Dividends Prices Dividends
High Low Paid High Low Paid
First $42.74 $35.75 $0.14 $43.93 $32.04 $0.13
Second 37.97 24.00 0.18 47.61 42.03 0.14
Third 38.87 30.40 0.18 50.74 44.18 0.14
Fourth 38.02 18.93 0.18 47.50 36.72 0.14
The following graph shows the changes, over the past five-year period, in the value of $100 invested in CBRL Common Stock,
the Standard & Poor's Mid Cap Index, and the Peer Composite composed of all companies listed with Nasdaq with the same
two-digit SIC (Standard Industrial Classification) code (58-Eating and Drinking Places) as CBRL. The plotted points represent
the closing price on the last day of the fiscal year indicated and the reinvestment of dividends. The data set forth in the
chart below has been provided by FactSet Research Systems, Inc.
CBRL Group, Inc. r o r R urn ror nc Gr p
20042003 2005 2006 2008
CBRL Group r Copo C p
In o r
50
00
50
0
200
200
Significant change from prior years is that Applebee’s International Inc., Back Yard Burgers Inc., Champps Entertainment Inc., Diedrich Coffee Inc., Rare Hospitality International Inc.,
Smith & Wollensky Restaurant Group Inc., and STEN Corp. are now excluded in the Peer Composite. Carrols Restaurant Group Inc., Einstein Noah Restaurant Group Inc., Jamba Inc.,
Peet’s Coffee & Tea Inc., and Western Sizzlin Corp are now included in the Peer Composite.