Einstein Bros 2008 Annual Report Download - page 39

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Form 10-K
http://www.sec.gov/Archives/edgar/data/949373/000119312509042707/d10k.htm[9/11/2014 10:10:56 AM]
Accumulated other comprehensive loss
—
(2,470)
Accumulated deficit (296,453) (275,376)
Total stockholders’ deficit (33,607) (13,651)
Total liabilities and stockholders’ deficit $ 148,562 $ 172,929
The accompanying notes are an integral part of these consolidated financial statements.
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EINSTEIN NOAH RESTAURANT GROUP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except earnings per share and related share information)
52 weeks ended
January 2,
2007
January 1,
2008
December 30,
2008
Revenues:
Company-owned restaurant sales $ 363,699 $ 372,997 $ 376,664
Manufacturing and commissary revenues 21,076 24,204 30,369
Franchise and license related revenues 5,187 5,701 6,417
Total revenues 389,962 402,902 413,450
Cost of sales:
Company-owned restaurant costs 290,176 297,180 303,116
Manufacturing and commissary costs 21,154 24,792 28,566
Total cost of sales 311,330 321,972 331,682
Gross profit 78,632 80,930 81,768
Operating expenses:
General and administrative expenses 37,484 40,635 36,356
California wage and hour settlements — — 1,900
Senior management transition costs — — 1,335
Depreciation and amortization 16,949 11,192 14,100
Loss on sale, disposal or abandonment of assets, net of gains 493 601 198
Impairment charges and other related costs 2,268 236 263
Income from operations 21,438 28,266 27,616
Other expense:
Interest expense, net 19,555 12,387 5,439
Write-off of debt discount upon redemption of senior notes — 528 —
Prepayment penalty upon redemption of senior notes 4,800 240 —
Write-off of debt issuance costs upon redemption of senior notes 3,956 2,071 —
Other (5) — —
Income (loss) before income taxes (6,868) 13,040 22,177
Provision for income taxes — 454 1,100
Net income (loss) $ (6,868) $ 12,586 $ 21,077
Net income (loss) per common share – Basic $ (0.66) $ 0.93 $ 1.32
Net income (loss) per common share – Diluted $ (0.66) $ 0.88 $ 1.29
Weighted average number of common shares outstanding:
Basic 10,356,415 13,497,841 15,934,796
Diluted 10,356,415 14,235,625 16,378,965
The accompanying notes are an integral part of these consolidated financial statements.
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