Wendy's 2013 Annual Report Download - page 118

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THE WENDY’S COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)
(25) Quarterly Financial Information (Unaudited)
The tables below set forth summary unaudited consolidated quarterly financial information for 2013 and 2012.
The Company reports on a fiscal year typically consisting of 52 or 53 weeks ending on the Sunday closest to
December 31. All of the Company’s fiscal quarters in 2013 and 2012 contained 13 weeks.
2013 Quarter Ended
March 31 (a) June 30 (a) September 29 (a) December 29 (a)
Revenues ............................... $603,682 $650,544 $640,779 $592,405
Cost of sales ............................. 460,828 473,298 469,177 436,437
Operating profit .......................... 22,464 56,990 26,810 28,878
Income (loss) from continuing operations ...... 2,133 12,002 (2,162) 32,925
Net loss from discontinued operations ......... — — — (266)
Net loss attributable to noncontrolling
interests .............................. — 222 223 410
Net income (loss) attributable to The Wendy’s
Company ............................. $ 2,133 $ 12,224 $ (1,939) $ 33,069
Basic net income (loss) per share attributable to
The Wendy’s Company:
Continuing operations ................. $ .01 $ .03 $ — $ .09
Discontinued operations ............... — — — —
Net income (loss) ..................... $ .01 $ .03 $ — $ .08
Diluted net income (loss) per share attributable to
The Wendy’s Company:
Continuing operations ................. $ .01 $ .03 $ — $ .08
Discontinued operations ............... — — — —
Net income (loss) ..................... $ .01 $ .03 $ — $ .08
2012 Quarter Ended
April 1 (b) July 1 (b)
September 30
(b)(d)
December 30
(b)(d)
Revenues ............................... $593,187 $645,868 $636,308 $629,879
Cost of sales ............................. 455,467 483,080 478,425 464,276
Operating profit .......................... 20,916 38,391 31,183 32,257
Income (loss) from continuing operations ...... 14,734 (5,493) (26,692) 25,409
Net income from discontinued operations ...... — — 530 979
Net income attributable to noncontrolling
interests .............................. (2,384) — — —
Net income (loss) attributable to The Wendy’s
Company ............................. $ 12,350 $ (5,493) $ (26,162) $ 26,388
Basic and diluted income (loss) per share
attributable to The Wendy’s Company (c):
Continuing operations ................. $ .03 $ (.01) $ (.07) $ .07
Discontinued operations ............... — — — —
Net income (loss) ..................... $ .03 $ (.01) $ (.07) $ .07
(a) The Company’s consolidated statements of operations were materially impacted by facilities action charges, net,
impairment of long-lived assets, impairment of goodwill and losses on early extinguishment of debt. The pre-tax
impact of facilities action charges (income), net for the first, second, third and fourth quarters of 2013 was
$3,038, $6,377, $22,275 and $(20,834), respectively (see Note 2 for additional information). The pre-tax impact
of impairment of long-lived assets during the third and fourth quarters of 2013 was $5,327 and $10,552,
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