Panera Bread 2008 Annual Report Download - page 29

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ITEM 6. SELECTED FINANCIAL DATA
The following selected financial data has been derived from our consolidated financial statements. The data set
forth below should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and
Results of Operations” and our consolidated financial statements and notes thereto.
December 30,
2008
December 25,
2007
December 26,
2006
December 27,
2005
December 25,
2004
For the Fiscal Year Ended(1)
Revenues:
Bakery-cafe sales .............. $1,106,295 $ 894,902 $ 666,141 $ 499,422 $362,121
Franchise royalties and fees....... 74,800 67,188 61,531 54,309 44,449
Fresh dough sales to franchisees . . . 117,758 104,601 101,299 86,544 72,569
Total revenue . .............. 1,298,853 1,066,691 828,971 640,275 479,139
Costs and expenses:
Bakery-cafe expenses:
Cost of food and paper products. . 332,697 271,442 196,849 143,057 104,836
Labor . . ................... 352,462 286,238 204,956 151,524 110,790
Occupancy . . . .............. 90,390 70,398 48,602 35,558 25,040
Other operating expenses ....... 147,033 121,325 92,176 70,003 51,044
Total bakery-cafe expenses . . . . 922,582 749,403 542,583 400,142 291,710
Fresh dough cost of sales to
franchisees ................... 108,573 92,852 85,951 74,654 62,623
Depreciation and amortization ....... 67,225 57,903 44,166 33,011 25,298
General and administrative expenses . . 84,393 68,966 59,306 46,301 33,338
Pre-opening expenses ............. 3,374 8,289 6,173 5,072 4,332
Total costs and expenses . . . . . 1,186,147 977,413 738,179 559,180 417,301
Operating profit . . . .............. 112,706 89,278 90,792 81,095 61,838
Interest expense . . . .............. 1,606 483 92 50 18
Other (income) expense, net ........ 883 333 (1,976) (1,133) 1,065
Income before minority interest and
income taxes . . . .............. 110,217 88,462 92,676 82,178 60,755
Income (loss) allocable to minority
interest . . ................... 1,509 (428) — — —
Income before income taxes ........ 108,708 88,890 92,676 82,178 60,755
Income taxes ................... 41,272 31,434 33,827 29,995 22,175
Net income . .............. $ 67,436 $ 57,456 $ 58,849 $ 52,183 $ 38,580
Per share data:
Net income per share
Basic . . ................... $ 2.24 $ 1.81 $ 1.88 $ 1.69 $ 1.28
Diluted. ................... $ 2.22 $ 1.79 $ 1.84 $ 1.65 $ 1.25
Weighted average shares of common
and common equivalent shares
outstanding:
Basic . . ................... 30,059 31,708 31,313 30,871 30,154
Diluted. ................... 30,422 32,178 32,044 31,651 30,768
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