Einstein Bros 2003 Annual Report Download - page 38

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http://www.sec.gov/Archives/edgar/data/949373/000104746904009609/a2132006z10-k.htm[9/11/2014 10:13:55 AM]
Total Liabilities 276,891 214,388
Mandatorily Redeemable, Series F Preferred Stock, $.001 par value, $1,000 per share
liquidation value; 0 and 116,000 shares authorized; 0 and 89,698 shares issued and
outstanding — 84,932
Stockholders' deficit:
Series A Junior Participating Preferred Stock, $.001 par value; 400 shares authorized,
0 shares issued and outstanding — —
Common stock, $.001 par value; 15,000,000 and 2,491,567 shares authorized;
9,841,828 and 847,413 shares issued and outstanding 10 1
Additional Paid-In capital 175,585 86,657
Accumulated deficit (257,461) (175,330)
Total stockholders' deficit (81,866) (88,672)
Total Liabilities and Stockholders' deficit $ 195,025 $ 210,648
The accompanying notes are an integral part of these consolidated financial statements.
F-3
NEW WORLD RESTAURANT GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 30, 2003, DECEMBER 31, 2002, AND JANUARY 1, 2002
(in thousands, except share and per share information)
December 30,
2003
December 31,
2002
January 1,
2002
Revenues:
Retail sales $ 356,225 $ 369,351 $ 206,186
Manufacturing revenues 21,457 23,734 22,285
Franchise related revenues 5,624 5,565 5,704
Total revenues 383,306 398,650 234,175
Cost of sales:
Retail costs 302,189 300,013 168,031
Manufacturing costs 19,756 21,493 21,372
Total cost of sales 321,945 321,506 189,403
General and administrative expenses 37,539 42,640 28,647
Depreciation and amortization 28,200 30,626 15,207
Charges for integration and reorganization cost 2,132 4,194 4,432
Impairment charge 5,292 — 3,259
Loss from operations. (11,802) (316) (6,773)
Interest expense, net. (34,184) (42,883) (47,104)
Cumulative change in the fair value of derivatives 993 233 57,680
Gain on investment in debt securities 374 2,537 241
Loss on exchange of Series F Preferred Stock due to Equity Recap (23,007) — —
Loss on extinguishment of Greenlight obligation — — (16,641)
Permanent impairment in the value of investment in debt securities — — (5,805)
Other income (expense) 730 322 (131)
Loss before income taxes (66,896) (40,107) (18,533)
Provision for income taxes (812) (366) (167)