Papa Johns 2003 Annual Report Download - page 23

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22
Item 6. Selected Financial Data
The selected financial data presented for each of the years in the five-year period ended December 28,
2003 was derived from our audited consolidated financial statements. The selected financial data should
be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results
of Operations and the Consolidated Financial Statements and Notes thereto included in Item 7 and Item
8, respectively, of this Form 10-K.
(In thousands, except per share data)
Year Ended (1)
Dec. 28,
Dec. 29,
Dec. 30,
Dec. 31,
Dec. 26,
2003
2002
2001
2000
1999
Income Statement Data
Domestic revenues:
Restaurant sales
416,049
$
429,813
$
445,849
$
456,637
$
394,636
$
Franchise royalties (2)
49,851
51,386
50,768
47,145
40,567
Franchise and development fees
1,475
1,734
2,927
5,559
6,511
Commissary sales
369,825
381,217
390,889
356,101
311,005
Other sales
48,541
50,055
52,730
53,233
53,078
International revenues:
Royalties and franchise and development fees (3)
6,297
5,846
5,895
5,302
1,063
Restaurant and commissary sales (4)
25,340
26,168
26,014
25,546
2,561
Total revenues
917,378
946,219
975,072
949,523
809,421
Operating income (5)
60,540
81,427
82,783
57,389
72,484
Investment income
672
1,126
1,958
1,943
3,384
Interest expense
(6,851)
(7,677)
(8,857)
(7,746)
(151)
Income before income taxes and cumulative effect
of a change in accounting principle
54,361
74,876
75,884
51,586
75,717
Income tax expense
20,385
28,079
28,639
19,762
28,431
Income before cumulative effect of a change in
accounting principle
33,976
46,797
47,245
31,824
47,286
Cumulative effect of accounting change, net of tax (6)
(413)
-
-
-
-
Net income
33,563
$
46,797
$
47,245
$
31,824
$
47,286
$
Basic earnings per common share:
Income before cumulative effect of a change in
accounting principle
1.89
$
2.33
$
2.09
$
1.29
$
1.57
$
Cumulative effect of accounting change, net of tax (6)
(0.02)
-
-
-
-
Basic earnings per common share
1.87
$
2.33
$
2.09
$
1.29
$
1.57
$
Earnings per common share - assuming dilution:
Income before cumulative effect of a change in
accounting principle
1.88
$
2.31
$
2.08
$
1.28
$
1.52
$
Cumulative effect of accounting change, net of tax (6)
(0.02)
-
-
-
-
Earnings per common share - assuming dilution
1.86
$
2.31
$
2.08
$
1.28
$
1.52
$
Basic weighted average shares outstanding
17,938
20,068
22,600
24,703
30,195
Diluted weighted average shares outstanding
18,037
20,300
22,753
24,907
31,080
Balance Sheet Data
Total assets
347,214
$
366,832
$
387,439
$
395,658
$
372,051
$
Total debt
61,250
140,085
105,310
146,607
6,233
Stockholders’ equity
159,272
121,947
195,632
166,321
292,133