Papa Johns 2010 Annual Report Download - page 34

Download and view the complete annual report

Please find page 34 of the 2010 Papa Johns annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 110

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110

27
Item 6. Selected Financial Data
The selected financial data presented for each of the fiscal years in the five-year period ended December
26, 2010, was derived from our audited consolidated financial statements. The selected financial data
should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and
Results of Operations” and the “Consolidated Financial Statements” and Notes thereto included in Item 7
and Item 8, respectively, of this Form 10-K.
(In thousands, except per share data)
Dec. 26, Dec. 27, Dec. 28, Dec. 30, Dec. 31,
2010 2009 2008 2007 2006
Income Statement Data 52 weeks 52 weeks 52 weeks 52 weeks 53 weeks
Domestic revenues (2):
Company-owned restaurant sales 503,272$ 503,818$ 533,255$ 504,330$ 447,938$
Franchise royalties (3) 68,358 61,012 59,704 55,283 56,374
Franchise and development fees 340 519 1,600 4,758 2,597
Commissary sales (2) 454,506 417,689 431,650 401,081 415,392
Other sales 51,951 54,045 61,415 61,820 50,505
International revenues:
Royalties and franchise and development fees (4) 14,808 13,244 12,868 10,314 7,551
Restaurant and commissary sales (5) 33,162 28,223 25,849 20,860 15,658
Total revenues (2) 1,126,397 1,078,550 1,126,341 1,058,446 996,015
Operating income (2), (6) 86,744 95,218 65,486 53,072 99,446
Investment income 875 629 848 1,446 1,682
Interest expense (2) (5,338) (5,653) (7,536) (7,465) (3,480)
Income from continuing operations before income taxes 82,281 90,194 58,798 47,053 97,648
Income tax expense 26,856 28,985 19,980 13,293 33,171
Income from continuing operations, including
noncontrolling interests 55,425 61,209 38,818 33,760 64,477
Income attributable to noncontrolling interests (7) (3,485) (3,756) (2,022) (1,025) (1,491)
Income from continuing operations, net of
noncontrolling interests 51,940 57,453 36,796 32,735 62,986
Income from discontinued operations, net of tax (8) - - - - 389
Net income 51,940$ 57,453$ 36,796$ 32,735$ 63,375$
Basic earnings per common share:
Income from continuing operations, net of
noncontrolling interests 1.97$ 2.07$ 1.31$ 1.10$ 1.95$
Income from discontinued operations, net of tax (8) - - - - 0.01
Basic earnings per common share 1.97$ 2.07$ 1.31$ 1.10$ 1.96$
Earnings per common share - assuming dilution:
Income from continuing operations, net of
noncontrolling interests 1.96$ 2.06$ 1.30$ 1.09$ 1.91$
Income from discontinued operations, net of tax (8) - - - - 0.01
Earnings per common share - assuming dilution 1.96$ 2.06$ 1.30$ 1.09$ 1.92$
Basic weighted average shares outstanding 26,328 27,738 28,124 29,666 32,312
Diluted weighted average shares outstanding 26,468 27,909 28,264 30,017 33,046
Balance Sheet Data
Total assets (2) 415,941$ 393,726$ 385,464$ 400,885$ 379,056$
Total debt 99,017 99,050 130,654 142,706 97,036
Total stockholders’ equity 207,200 185,037 138,238 134,938 152,395
Year Ended (1)