Einstein Bros 2012 Annual Report Download - page 42

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10-K
http://www.sec.gov/Archives/edgar/data/949373/000119312513085036/d445565d10k.htm[9/11/2014 10:07:50 AM]
Total liabilities
116,919
186,106
Commitments and contingencies (Note 17)
Stockholders’ equity:
Series A junior participating preferred stock, 700,000 shares authorized; no shares issued and outstanding — —
Common stock, $.001 par value; 25,000,000 shares authorized; 16,830,831 and 17,077,472 shares issued
and outstanding 17 17
Additional paid-in capital 273,736 277,951
Accumulated other comprehensive loss, net of income tax (48) —
Accumulated deficit (185,892) (250,461)
Total stockholders’ equity 87,813 27,507
Total liabilities and stockholders’ equity $ 204,732 $ 213,613
The accompanying notes are an integral part of these consolidated financial statements.
52
Table of Contents
EINSTEIN NOAH RESTAURANT GROUP, INC.
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(in thousands, except earnings per share and related share information)
Fiscal year ended
December 28,
2010
January 3,
2012
January 1,
2013
Revenues:
Company-owned restaurant sales $ 372,191 $ 378,723 $ 384,783
Manufacturing and commissary revenues 30,405 34,542 31,037
Franchise and license related revenues 9,115 10,330 11,186
Total revenues 411,711 423,595 427,006
Cost of sales (exclusive of depreciation and amortization shown separately below):
Company-owned restaurant costs
Cost of goods sold 106,011 112,002 106,925
Labor costs 108,813 110,467 111,784
Rent and related expenses 39,691 40,277 41,993
Other operating costs 37,696 39,092 40,320
Marketing costs 9,794 9,796 11,380
Total company-owned restaurant costs 302,005 311,634 312,402
Manufacturing and commissary costs 25,566 30,441 24,236
General and administrative expenses 38,484 36,774 39,569
Depreciation and amortization 17,769 19,259 19,707
Pre-opening expenses 370 265 1,115
Restructuring expenses 477 1,099 480
Strategic alternatives expense — — 3,677
Other operating (income) expenses, net (531) (395) 1,592
Total costs and expenses 384,140 399,077 402,778
Income from operations 27,571 24,518 24,228
Other expense:
Interest expense, net 5,135 3,357 3,384
Adjustment for Series Z modification 929 — —
Write-off of debt issuance costs upon redemption of term loan 966 — —
Income before income taxes 20,541 21,161 20,844
Provision for income taxes 9,918 7,958 8,103
Net income $ 10,623 $ 13,203 $ 12,741
Unrealized gain on cash flow hedge, net of tax 1,277 — —