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10-K
http://www.sec.gov/Archives/edgar/data/949373/000119312513085036/d445565d10k.htm[9/11/2014 10:07:50 AM]
EINSTEIN NOAH RESTAURANT GROUP, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
20. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The following table summarizes the unaudited consolidated quarterly results of operations for fiscal years 2011 and 2012:
Fiscal year 2011:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
(13 wks) (13 wks) (13 wks) (14 wks)
(in thousands, except earnings per share and related share
information)
Revenue $ 101,245 $ 103,677 $ 103,532 $ 115,141
Income from operations 2,889 6,033 5,254 10,342
Net income available to common stockholders $ 1,168 $ 3,080 $ 2,835 $ 6,120
Net income available to common stockholders per share—Basic $ 0.07 $ 0.18 $ 0.17 $ 0.36
Net income available to common stockholders per share—Diluted $ 0.07 $ 0.18 $ 0.17 $ 0.36
Cash dividend declared $ — $ 0.125 $ 0.125 $ 0.125
Weighted average number of common shares outstanding:
Basic 16,678,607 16,725,827 16,785,934 16,809,502
Diluted 16,981,144 17,004,316 17,013,086 17,022,819
Fiscal year 2012:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
(13 wks) (13 wks) (13 wks) (13 wks)
(in thousands, except earnings per share and related share
information)
Revenue $ 104,873 $ 105,993 $ 105,494 $ 110,646
Income from operations 6,044 5,590 6,332 6,262
Net income available to common stockholders $ 3,204 $ 2,956 $ 3,414 3,167
Net income available to common stockholders per share—Basic $ 0.19 $ 0.17 $ 0.20 $ 0.19
Net income available to common stockholders per share—Diluted $ 0.19 $ 0.17 $ 0.20 $ 0.18
Cash dividend declared $ 0.125 $ 0.125 $ 0.125 $ 4.125
Weighted average number of common shares outstanding:
Basic 16,850,776 16,935,195 16,961,298 16,992,803
Diluted 17,125,409 17,213,322 17,292,305 17,278,632
21. SUBSEQUENT EVENTS
On January 28, 2013, the Company paid $6.7 million towards its Revolving Facility.
On January 30, 2013, the Board declared a cash dividend on the Company’ s common stock in the amount of $0.125 per share, payable on
April 15, 2013, to shareholders of record as of March 1, 2013.
On January 31, 2013, the Company adjusted all outstanding stock options and SARs in accordance with the anti-dilution provisions of its
outstanding stock-based compensation plans.
83
Table of Contents
EINSTEIN NOAH RESTAURANT GROUP, INC. AND SUBSIDIARIES
Schedule II – Valuation and Qualifying Accounts
Balance at
beginning
of period Additions (a) Deductions (b)
Balance at
end of
period
(in thousands)
For the fiscal year ended December 28, 2010:
Allowance for doubtful accounts $ 141 167 (259) $ 49
Valuation allowance for deferred taxes $ 4,909 — (138) $ 4,771
For the fiscal year ended January 3, 2012:
Allowance for doubtful accounts $ 49 69 (45) $ 73