Panera Bread 2007 Annual Report Download - page 34
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The following table sets forth the percentage relationship to total revenues, except where otherwise indicated,
of certain items included in our Consolidated Statements of Operations for the periods indicated. Percentages may
not add due to rounding:
December 25,
2007
December 26,
2006
December 27,
2005
For the Fiscal Year Ended
Revenues:
Bakery-cafe sales ............................ 83.9% 80.4% 78.0%
Franchise royalties and fees .................... 6.3 7.4 8.5
Fresh dough sales to franchisees ................. 9.8 12.2 13.5
Total revenue ........................... 100.0% 100.0% 100.0%
Costs and expenses:
Bakery-cafe expenses(1):
Cost of food and paper products ............... 31.0% 29.6% 28.6%
Labor................................... 32.0 30.8 30.3
Occupancy ............................... 7.9 7.3 7.1
Other operating expenses .................... 13.6 13.8 14.0
Total bakery-cafe expenses ................. 84.4 81.5 80.0
Fresh dough cost of sales to franchisees(2) ......... 82.8 84.5 86.7
Depreciation and amortization .................. 5.4 5.3 5.2
General and administrative expenses.............. 6.5 7.2 7.2
Pre-opening expenses ......................... 0.8 0.7 0.8
Total costs and expenses..................... 91.6 89.0 87.3
Operating profit............................... 8.4 11.0 12.7
Interest expense............................... 0.1 — —
Other (income) expense, net ..................... — (0.2) (0.2)
Income before minority interest and income taxes . .... 8.3 11.2 12.8
Loss allocable to minority interest ................. — — —
Income before income taxes...................... 8.3 11.2 12.8
Income taxes ................................. 2.9 4.1 4.7
Net income ............................ 5.4% 7.1% 8.2%
(1) As a percentage of bakery-cafe sales.
(2) As a percentage of fresh dough facility sales to franchisees.
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