Papa Johns 2003 Annual Report Download - page 69

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68
21. Quarterly Data (unaudited, in thousands, except per share data)
2003
2002
2003
2002
2003
2002
2003
2002
Total revenues
232,282
$
245,665
$
226,469
$
236,583
$
219,589
$
227,853
$
239,038
$
236,118
$
Operating income (1)
19,231
22,124
18,862
21,505
7,689
18,344
14,758
19,454
Income before cumulative
effect of a change in
accounting principle (1)
10,985
12,871
10,854
12,387
3,888
10,463
8,249
11,076
Net income (1)
10,985
12,871
10,854
12,387
3,475
10,463
8,249
11,076
Basic earnings per common share (1):
Income before cumulative
effect of a change in
accounting principle
0.61
$
0.60
$
0.61
$
0.60
$
0.21
$
0.53
$
0.46
$
0.60
$
Net Income
0.61
$
0.60
$
0.61
$
0.60
$
0.19
$
0.53
$
0.46
$
0.60
$
Earnings per common share - assuming
dilution (1):
Income before cumulative
effect of a change in
accounting principle
0.61
$
0.60
$
0.60
$
0.59
$
0.21
$
0.53
$
0.46
$
0.59
$
Net Income
0.61
$
0.60
$
0.60
$
0.59
$
0.19
$
0.53
$
0.46
$
0.59
$
Quarter
1st
2nd
3rd
4th
(1) During the third quarter of 2003, we recorded a pre-tax charge of $4.2 million ($2.6 million after tax
or $0.15 per share) related to restaurant closure, impairment and disposition losses and a $2.1 million
($1.3 million after tax or $0.07 per share) increase in claims loss reserves, as compared to expected
claims costs, related to the franchisee insurance program. During the fourth quarter, we recorded an
additional pre-tax charge of $1.1 million ($657,000 after tax or $0.04 per share) in restaurant closure,
impairment and disposition losses and an additional $1.7 million ($1.1 million after tax or $0.06 per
share) for increases in claims loss reserves, as compared to expected claims costs, related to the
franchisee insurance program.
All quarterly information above is presented in 13-week periods.