Einstein Bros 2011 Annual Report Download - page 42

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Form 10-K
http://www.sec.gov/Archives/edgar/data/949373/000119312512092597/d260635d10k.htm[9/11/2014 10:08:30 AM]
Additional paid-in capital
270,171
273,736
Accumulated other comprehensive loss, net of income tax — (48)
Accumulated deficit (192,802) (185,892)
Total stockholders’ equity 77,386 87,813
Total liabilities and stockholders’ equity $ 205,067 $ 204,732
The accompanying notes are an integral part of these consolidated financial statements.
52
Table of Contents
EINSTEIN NOAH RESTAURANT GROUP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except earnings per share and related share information)
Fiscal year ended
December 29,
2009
December 28,
2010
January 3,
2012
Revenues:
Company-owned restaurant sales $ 370,412 $ 372,191 $ 378,723
Manufacturing and commissary revenues 30,638 30,405 34,542
Franchise and license related revenues 7,512 9,115 10,330
Total revenues 408,562 411,711 423,595
Cost of sales (exclusive of depreciation and amortization shown separately below):
Company-owned restaurant costs
Cost of goods sold 108,052 106,035 112,018
Labor costs 113,665 109,005 110,595
Rent and related expenses 40,517 39,731 40,322
Other operating costs 37,426 37,732 39,116
Marketing costs 4,597 9,854 9,836
Total company-owned restaurant costs 304,257 302,357 311,887
Manufacturing and commissary costs 26,573 25,566 30,441
General and administrative expenses 35,463 38,502 36,786
Depreciation and amortization 16,627 17,769 19,259
Restructuring expenses — 477 1,099
Other operating expenses (income), net 725 (531) (395)
Total costs and expenses 383,645 384,140 399,077
Income from operations 24,917 27,571 24,518
Other expense:
Interest expense, net 6,114 5,135 3,357
Adjustment for Series Z modification — 929 —
Write-off of debt issuance costs upon redemption of term loan — 966 —
Income before income taxes 18,803 20,541 21,161
(Benefit) provision for income taxes (71,560) 9,918 7,958
Net income $ 90,363 $ 10,623 $ 13,203
Less: Additional redemption on temporary equity — (387) —
Add: Accretion of premium on Series Z preferred stock — 1,072 —
Net income available to common stockholders $ 90,363 $ 11,308 $ 13,203
Net income available to common stockholders per share – Basic $ 5.59 $ 0.68 $ 0.79
Net income available to common stockholders per share – Diluted $ 5.47 $ 0.67 $ 0.78
Cash dividend declared per common share $— $ 0.125 $ 0.375
Weighted average number of common shares outstanding:
Basic 16,175,391 16,532,420 16,629,098