Panera Bread 2005 Annual Report Download - page 6

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Matters discussed in this annual report to stockholders, including any discussion or impact,
express or implied, on the Company's anticipated growth, operating results, and future earnings
per share, contain forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements
are often identified by the words “believe”, “positioned”, "estimate", "project", “target”,
“continue”, "intend", "expect", "future", "anticipates", and similar expressions. All forward-
looking statements included in this release are made only as of the date of this release, and we do
not undertake any obligation to publicly update or correct any forward-looking statements to
reflect events or circumstances that occur or which we hereafter become aware, after that date.
Forward-looking information expresses management's present belief, expectations, or intentions
regarding the Company's future performance. The Company's actual results could differ
materially from those set forth in the forward-looking statements due to known and unknown
risks and uncertainties and could be negatively impacted by a number of factors. These factors
include but are not limited to the following: inability to execute our growth strategy, including
variations in the number, timing, and successful nature of Company and franchise bakery-cafe
openings and continued successful operation of bakery-cafes; failure to comply with government
regulations; loss of a member of senior management; failure or inability to protect our brand,
trademarks, or other proprietary rights; competition; rising insurance costs; disruption in our
supply chain or increases in ingredient, product, or other supply costs; disruptions or supply
issues in our fresh dough facilities; health concerns about the consumption of certain products;
complaints and litigation; risks associated with the acquisition of franchise-operated bakery-
cafes; other factors, some of which may be beyond our control, effecting our operating results;
and other factors that may affect restaurant owners or retailers in general. These and other risks
are discussed from time to time in the Company's SEC reports, including its Form 10-K for the
year ended December 27, 2005 and its quarterly reports on Form 10-Q.