Einstein Bros 2008 Annual Report Download - page 63

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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]
Gross profit
$ 18,545
$ 18,490
$ 18,120
$ 23,477
Income from operations $ 1,883 $ 3,170 $ 5,486 $ 10,899
Net income (loss) (a) $ (12,092) $ (1,542) $ 752 $ 6,014
Net income (loss) per common share – Basic $ (1.20) $ (0.15) $ 0.07 $ 0.57
Net income (loss) per common share – Diluted $ (1.20) $ (0.15) $ 0.07 $ 0.54
Weighted average number of common shares outstanding:
Basic 10,065,072 10,171,236 10,593,085 10,596,266
Diluted 10,065,072 10,171,236 11,036,527 11,110,643
Fiscal year 2007:
1st Quarter
(13 wks)
2nd Quarter
(13 wks)
3rd Quarter
(13 wks)
4th Quarter
(13 wks)
(in thousands of dollars, except per share amounts)
Revenue $ 96,255 $ 101,055 $ 100,378 $ 105,214
Gross profit $ 19,501 $ 20,418 $ 19,521 $ 21,490
Income from operations $ 5,958 $ 6,743 $ 6,806 $ 8,759
Net income (loss) (b) $ 1,132 $ (250) $ 4,943 $ 6,761
Net income (loss) per common share – Basic $ 0.11 $ (0.02) $ 0.31 $ 0.43
Net income (loss) per common share – Diluted $ 0.10 $ (0.02) $ 0.30 $ 0.41
Weighted average number of common shares outstanding:
Basic 10,605,626 11,775,597 15,772,931 15,837,211
Diluted 11,136,669 11,775,597 16,572,486 16,623,629
80
Table of Contents
EINSTEIN NOAH RESTAURANT GROUP, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Fiscal year 2008:
1st Quarter
(13 wks)
2nd Quarter
(13 wks)
3rd Quarter
(13 wks)
4th Quarter
(13 wks)
(in thousands of dollars, except per share amounts)
Revenue $ 103,264 $ 105,414 $ 100,895 $ 103,877
Gross profit $ 19,579 $ 21,542 $ 19,183 $ 21,464
Income from operations $ 5,563 $ 8,540 $ 5,997 $ 7,516
Net income $ 3,842 $ 6,914 $ 4,537 $ 5,784
Net income per common share – Basic $ 0.24 $ 0.43 $ 0.28 $ 0.36
Net income per common share – Diluted $ 0.23 $ 0.42 $ 0.28 $ 0.36
Weighted average number of common shares outstanding:
Basic 15,890,879 15,925,876 15,948,180 15,974,248
Diluted 16,451,556 16,398,822 16,412,748 16,179,269
(a) In connection with refinancing our $160 Million Notes, we wrote off $4.0 million of debt issuance costs and paid a 3% redemption premium
in the amount of $4.8 million during the first quarter ended 2006.
(b) In connection with the debt redemption and Amended First Lien Term Loan, we wrote off $2.1 million of debt issuance costs and $0.5
million of debt discount, and paid a redemption premium in the amount of $0.2 million during the second quarter ended 2007.
22. SUBSEQUENT EVENTS
As an inducement to Mr. O’ Neill’ s employment, on January 9, 2009, he was granted 63,776 shares of restricted stock with a value of $375,000
which will vest in three equal annual installments starting January 9, 2009, provided that Mr. O’ Neill remains employed by the Company. The
number of shares issued was determined by the closing price of the Company’ s common stock on January 9, 2009, the effective date of the grant.
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