Einstein Bros 2004 Annual Report Download - page 32

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http://www.sec.gov/Archives/edgar/data/949373/000104746905006202/a2153240z10-k.htm[9/11/2014 10:13:29 AM]
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 28, 2004, DECEMBER 30, 2003 AND DECEMBER 31, 2002
(in thousands, except earnings per share and related share information)
December 28,
2004
December 30,
2003
December 31,
2002
(Restated)
(Restated)
Revenues:
Retail sales $ 347,786 $ 356,225 $ 369,351
Manufacturing revenues 20,122 21,457 23,734
Franchise and license related revenues 5,952 5,624 5,565
Total revenues 373,860 383,306 398,650
Cost of sales:
Retail costs 288,736 297,934 300,013
Manufacturing costs 17,925 19,756 21,493
Total cost of sales 306,661 317,690 321,506
Gross profit 67,199 65,616 77,144
Operating expenses:
General and administrative expenses 32,755 41,794 42,640
Depreciation and amortization 27,848 34,013 35,047
Charges (adjustments) of integration and reorganization cost (869) 2,132 4,194
Impairment charges and other related costs 450 5,292 —
Income (loss) from operations 7,015 (17,615) (4,737)
Other expense (income):
Interest expense, net 23,196 34,184 42,883
Cumulative change in the fair value of derivatives — (993) (233)
Loss (gain) on sale, disposal or abandonment of assets, net 1,557 (558) —
Gain on investment in debt securities — (374) (2,537)
Loss on exchange of Series F Preferred Stock due to Equity Recap — 23,007 —
Other (284) (172) (322)
Loss before income taxes (17,454) (72,709) (44,528)
Provision (benefit) for state income taxes (49) 812 366
Net loss (17,405) (73,521) (44,894)
Dividends and accretion on Preferred Stock — (14,423) (27,594)
Net loss available to common stockholders $ (17,405) $ (87,944) $ (72,488)
Net loss per common share—Basic and Diluted $ (1.77) $ (22.71) $ (55.18)
Weighted average number of common shares outstanding:
Basic and Diluted 9,842,414 3,873,284 1,313,760
The accompanying notes are an integral part of these consolidated financial statements.