Buffalo Wild Wings 2006 Annual Report Download - page 34

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BUFFALO WILD WINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
Fiscal years ended December 31, 2006, December 25, 2005, and December 26, 2004
(Dollar amounts in thousands except share and per share data)
Fiscal years ended
Decembe 31, r
2006
Decembe 25, r
2005
Decembe 26, r
2004
Revenue:
Restaurant sales $ 247,150 185,823 152,221
Franchise royalties and fees 31,033 23,877 18,827
Total revenue 278,183 209,700 171,048
Costs and expenses:
Restaurant operating costs:
Cost of sales 76,087 58,771 51,507
Labor 73,030 55,403 43,853
Operating 41,087 29,717 23,080
Occupancy 17,529 14,172 10,259
Depreciation 14,492 11,765 9,717
General and administrative (1) 30,374 22,303 19,372
Preopening 3,077 2,599 2,042
Restaurant impairment and closures 1,008 1,991 573
Total costs and expenses 256,684 196,721 160,403
Income from operations 21,499 12,979 10,645
Interest income 2,339 1,340 671
Earnings before income taxes 23,838 14,319 11,316
Income tax expense 7,565 5,439 4,115
Net earnings 16,273 8,880 7,201
Earnings per common share – basic $ 1.90 1.05 0.88
Earnings per common share – diluted 1.85 1.02 0.84
Weighted average shares outstanding - basic 8,578,328 8,446,200 8,165,078
Weighted average shares outstanding – diluted 8,814,337 8,708,494 8,603,881
(1) Includes stock-based compensation of $3,216, $1,700, and $909, respectively
See accompanying notes to consolidated financial statements.
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