Buffalo Wild Wings 2012 Annual Report Download - page 32

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Results of Quarterly Operations (unaudited) (amounts in thousands except per share data)
Mar. 27,
2011
Jun. 26,
2011
Sep. 25,
2011
Dec. 25,
2011
Mar. 25,
2012
Jun. 24,
2012
Sep. 23,
2012
Dec. 30,
2012
Revenue:
Restaurant sales 165,527 167,896 181,036 202,936 232,316 220,550 228,418 282,679
Franchise royalties and
fees
16,623 16,205 16,727 17,528 18,806 18,173 18,441 21,147
Total revenue 182,150 184,101 197,763 220,464 251,122 238,723 246,859 303,826
Costs and expenses:
Restaurant operating costs:
Cost of sales 46,264 45,735 51,655 59,637 72,151 69,799 71,263 90,440
Labor 48,878 51,309 54,783 60,679 68,268 66,638 68,804 85,457
Operating 24,549 25,048 28,537 31,520 32,797 32,349 34,626 41,645
Occupancy 10,227 10,659 11,195 11,924 12,800 13,091 13,458 14,798
Depreciation and
amortization
11,022 11,931 12,748 14,212 15,531 16,090 16,818 19,023
General and administrative 16,292 18,766 18,336 19,295 19,424 20,976 21,813 21,936
Preopening 2,387 4,116 3,864 4,197 2,591 1,536 4,535 5,968
Loss on asset disposals and
store closures 411 492 612 414 737 597 788 1,169
Total costs and expenses 160,030 168,056 181,730 201,878 224,299 221,076 232,105 280,436
Income from operations 22,120 16,045 16,033 18,586 26,823 17,647 14,754 23,390
Investment income (loss) 356 (152)
(374)
288 410
(115)
418 41
Earnings before income taxes 22,476 15,893 15,659 18,874 27,233 17,532 15,172 23,431
Income tax expense 7,615 5,220 4,393 5,248 8,988 5,870 4,464 6,771
Net earnings
14,861 10,673 11,266 13,626 18,245 11,662 10,708 16,660
Earnings per common share –
basic
0.81 0.58 0.61 0.74 0.98 0.63 0.58 0.90
Earnings per common share –
diluted
0.81 0.58 0.61 0.73 0.98 0.62 0.57 0.89
Weighted average shares
outstanding – basic
18,306 18,330 18,352 18,361 18,555 18,575 18,589 18,608
Weighted average shares
outstanding – diluted
18,375 18,401 18,520 18,633 18,638 18,660 18,723 18,789