Einstein Bros 2013 Annual Report Download - page 33

Download and view the complete annual report

Please find page 33 of the 2013 Einstein Bros annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 74

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74

10-K
http://www.sec.gov/Archives/edgar/data/949373/000119312514073832/d629623d10k.htm[9/11/2014 10:05:27 AM]
Our effective tax rate increased from 37.6% for fiscal 2011 to 38.9% for fiscal 2012 because certain federal employment tax credits that were
available to us in fiscal 2011 were not available to us during fiscal 2012. As of January 3, 2012, we had a valuation allowance of approximately
$4.8 million established against our deferred tax assets. This valuation was applied against NOLs that will expire prior to their utilization. During
fiscal 2012, we eliminated these NOLs and accordingly eliminated the related valuation allowance.
41
Table of Contents
EINSTEIN NOAH RESTAURANT GROUP, INC.
NON-GAAP FINANCIAL INFORMATION
Fiscal Year Ended
January 3, January 1,
2012 2013
(in thousands, except earnings per
share and related share information)
Total revenues, as reported $ 423,595 $ 427,006
Impact of extra week in fiscal 2011 (7,300) —
Non-GAAP total revenues $ 416,295 $ 427,006
Net income available to common stockholders $ 13,203 $ 12,741
Adjustments for, net of tax:
Extra week in fiscal 2011 (528) —
Restructuring expenses 686 293
Strategic alternatives expense — 2,247
Other operating expenses, net (246) 973
Adjusted net income $ 13,115 $ 16,254
Weighted average number of common shares outstanding:
Basic 16,629,098 16,935,018
Diluted 16,880,321 17,217,180
Net income per share available to common stockholders – Basic $ 0.79 $ 0.75
Adjustments for, net of tax:
Extra week in fiscal 2011 (0.03) —
Restructuring expenses 0.04 0.02
Strategic alternatives expense — 0.13
Other operating expenses, net (0.01) 0.06
Adjusted net income per common share – Basic $ 0.79 $ 0.96
Net income per share available to common stockholders – Diluted $ 0.78 $ 0.74
Adjustments for:
Extra week in fiscal 2011 (0.03) —
Restructuring expenses 0.04 0.02
Strategic alternatives expense — 0.13
Other operating expenses, net (0.01) 0.05
Adjusted net income per common share – Diluted $ 0.78 $ 0.94
42
Table of Contents
Contractual Obligations
The following table summarizes the amounts of payments due under specified contractual obligations as of December 31, 2013:
Payments Due by Fiscal Period
Total
Less than
1 year
1 - 3
Years 3 - 5 Years
More
than 5
years
(in thousands)
Long-term debt obligations 107,000 3,750 16,250 87,000 —