Panera Bread 2010 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 Consolidated Financial
Condition and Results of Operations” and our consolidated financial statements and notes thereto.
December 28,
2010
December 29,
2009
December 30,
2008
December 25,
2007
December 26,
2006
For the Fiscal Year Ended(1)
(In thousands, except per share and percentage information)
Revenues:
Bakery-cafe sales, net . . ......... $1,321,162 $1,153,255 $1,106,295 $ 894,902 $ 666,141
Franchise royalties and fees....... 86,195 78,367 74,800 67,188 61,531
Fresh dough and other product sales
to franchisees . .............. 135,132 121,872 117,758 104,601 101,299
Total revenues .............. 1,542,489 1,353,494 1,298,853 1,066,691 828,971
Costs and expenses:
Bakery-cafe expenses:
Cost of food and paper products. . $ 374,816 $ 337,599 $ 332,697 $ 271,442 $ 196,849
Labor . . ................... 419,140 370,595 352,462 286,238 204,956
Occupancy . . . .............. 100,970 95,996 90,390 70,398 48,602
Other operating expenses ....... 177,059 155,396 147,033 121,325 92,176
Total bakery-cafe expenses . . . . 1,071,985 959,586 922,582 749,403 542,583
Fresh dough and other product cost of
sales to franchisees ............. 110,986 100,229 108,573 92,852 85,951
Depreciation and amortization ....... 68,673 67,162 67,225 57,903 44,166
General and administrative expenses . . 101,494 83,169 84,393 68,966 59,306
Pre-opening expenses ............. 4,282 2,451 3,374 8,289 6,173
Total costs and expenses . . . . . 1,357,420 1,212,597 1,186,147 977,413 738,179
Operating profit . . . .............. 185,069 140,897 112,706 89,278 90,792
Interest expense . . . .............. 675 700 1,606 483 92
Other expense (income), net ........ 4,232 273 883 333 (1,976)
Income before income taxes ........ 180,162 139,924 110,217 88,462 92,676
Income taxes ................... 68,563 53,073 41,272 31,434 33,827
Net income . .............. 111,599 86,851 68,945 57,028 58,849
Less: net (loss) income attributable to
noncontrolling interest . ......... (267) 801 1,509 (428) —
Net income attributable to
Panera Bread Company . . . . $ 111,866 $ 86,050 $ 67,436 $ 57,456 $ 58,849
Earnings per common share
attributable to Panera Bread
Company:
Basic . . ................... $ 3.65 $ 2.81 $ 2.24 $ 1.81 $ 1.88
Diluted. ................... $ 3.62 $ 2.78 $ 2.22 $ 1.79 $ 1.84
Weighted average shares of common
and common
equivalent shares outstanding:
Basic . . ................... 30,614 30,667 30,059 31,708 31,313
Diluted. ................... 30,922 30,979 30,422 32,178 32,044
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