El Pollo Loco 2016 Annual Report Download - page 83

EL POLLO LOCO HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
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17. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
ThefollowingtablesetsforthasummaryofourunauditedquarterlyoperatingresultsforeachofthelasteightquartersintheperiodendedDecember30,2015.We
havederivedthisdatafromourunauditedconsolidatedinterimfinancialstatementsthat,inouropinion,havebeenpreparedonsubstantiallythesamebasisasthe
auditedfinancialstatementscontainedelsewhereinthisreportandincludeallnormalrecurringadjustmentsnecessaryforafairpresentationofthefinancial
informationfortheperiodspresented.Theseunauditedquarterlyresultsshouldbereadinconjunctionwithourfinancialstatementsandnotestheretoincluded
elsewhereinthisreport.Theoperatingresultsinanyquarterarenotnecessarilyindicativeoftheresultsthatmaybeexpectedforanyfutureperiod.
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) 

 2015 2014
(Dollar amounts in thousands, except
share data) Dec. Sept. July Apr. Dec. Sept. June Mar.
Selected Financial Data                            
Totalrevenue($)   86,307   88,870   89,454   90,426   89,973    86,557  86,904  81,427  
IncomefromOperations($)   9,748   12,527    13,582   12,967   11,311  13,621  12,842   11,510 
Provision(benefit)forincometaxes   4,576   6,505   5,062    4,714   (2,606 )   (61,389 )(3)  570  417 
Netincome(loss)($)   5,367   4,666   7,230   6,791   4,575
(2)
(4)  25,849
(2)
(3)  6,569
(2)
 5,470
(2)
Per Share Data (5) :                      
Netincome(loss)pershare                      
Basic   0.14   0.12   0.19   0.18   0.12  0.76  0.23  0.19 
Diluted   0.14    0.12   0.18   0.17   0.12   0.70  0.21  0.18 
Weightedaveragesharesusedin
computingnetincome(loss)
pershare                         
Basic   38,284,435   38,275,317   37,812,767    37,424,745   37,149,379  34,221,829  28,715,485  28,712,622 
Diluted   38,965,248   39,107,241    39,085,206   38,921,884   39,691,650   36,821,095  30,372,281  30,157,316 
Selected Operating Data                         
Numberofrestaurants(atperiodend)                       
Company-operated   186   175   174    173   172  166    168  168 
Franchised   247    245   244   243   243   239  233  233 
System-wide   433    420   418   416   415   405  401  401 
Averageunitvolume(AUV)
(company-operated)(1)   1,826  1,928   1,952  1,963   1,839  1,893  1,927   1,813 
Comparablerestaurantsalesgrowth
(%)                         
Company-operated  1.0  0.0   (0.5 )   3.5   6.4  6.4  5.0  5.4 
Franchised  2.4  1.1   2.6  6.2   8.6  9.1  5.9  8.3 
System-wide  1.8  0.6   1.3  5.1   7.6  7.9  5.4  7.2 
Restaurantcontributionmargin(%)   21.5   21.2    21.6  23.3   22.3    20.7  22.6  22.1 
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(1) AUVsconsistofaverageannualizedsalesofallcompany-ownedrestaurantsoverthefiscalquarter.
(2) Repaymentofthe2013SecondLienTermLoanwithaportionoftheproceedsofourIPOresultedinlowerinterestratesonourindebtedness,whichhas
contributedtolowerinterestexpenseandhighernetincomeinsubsequentperiods.
(3) InthethirteenweeksendedSeptember24,2014,wereleasedourvaluationallowanceofapproximately$65million,andincurredaTRAchargeof
approximately$41million.
(4) InthefourteenweeksendedDecember31,2014,werefinancedthe2013FirstLienCreditAgreementwiththe2014Revolver,whichresultedinlower
interestratesonourindebtedness,contributingtolowerinterestexpenseandhighernetincome.Inconnectionwiththe2014Refinancing,the2013First
LienTermLoanwasrepaidinfull,resultinginaone-timechargetoourconsolidatedstatementofoperationsof$4.6million,reflectingexpensesrelatedto
thewrite-offofdeferredfinancingcostsandunamortizeddiscounts.
(5) Duetotheuseofweightedaveragesharesoutstandingforeachquarterofcomputingearningspershare,thesumofthequarterlypershareamountsmaynot
equalthepershareamountfortheyear.
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