Papa Johns 2006 Annual Report Download - page 26
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23
Item 6. Selected Financial Data
The selected financial data presented for each of the years in the five-year period ended December 31,
2006 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. 31, Dec. 25, Dec. 26, Dec. 28, Dec. 29,
2006 2005 2004 2003 2002
Income Statement Data
Domestic revenues:
Company-owned restaurant sales 447,938$ 434,525$ 412,676$ 416,049$ 429,813$
Variable interest entities restaurant sales (2) 7,859 11,713 14,387 - -
Franchise royalties (3) 56,374 52,289 50,292 49,851 51,386
Franchise and development fees 2,597 3,026 2,475 1,475 1,734
Commissary sales 413,075 398,372 376,642 369,825 381,217
Other sales 50,505 50,474 53,117 48,541 50,055
International revenues:
Royalties and franchise and development fees (4) 7,551 6,529 5,010 3,810 3,032
Restaurant and commissary sales (5) 15,658 11,860 10,747 10,572 9,521
Total revenues 1,001,557 968,788 925,346 900,123 926,758
Operating income (6) 97,955 72,700 36,682 55,353 74,914
Investment income 1,682 1,248 689 672 1,126
Interest expense (3,480) (4,316) (5,313) (6,851) (7,677)
Income from continuing operations before income taxes
and cumulative effect of a change in accounting principle 96,157 69,632 32,058 49,174 68,363
Income tax expense 33,171 25,364 12,021 18,440 25,637
Income from continuing operations before cumulative
effect of a change in accounting principle 62,986 44,268 20,037 30,734 42,726
Income from discontinued operations, net of tax (7) 389 1,788 3,184 3,242 4,071
Cumulative effect of accounting change, net of tax (8) - - - (413) -
Net income 63,375$ 46,056$ 23,221$ 33,563$ 46,797$
Basic earnings per common share:
Income from continuing operations before cumulative
effect of a change in accounting principle 1.95$ 1.32$ 0.58$ 0.86$ 1.07$
Income from discontinued operations, net of tax (7) 0.01 0.05 0.09 0.09 0.10
Cumulative effect of accounting change, net of tax (8) - - - (0.01) -
Basic earnings per common share 1.96$ 1.37$ 0.67$ 0.94$ 1.17$
Earnings per common share - assuming dilution:
Income from continuing operations before cumulative
effect of a change in accounting principle 1.91$ 1.29$ 0.58$ 0.85$ 1.05$
Income from discontinued operations, net of tax (7) 0.01 0.05 0.09 0.09 0.10
Cumulative effect of accounting change, net of tax (8) - - - (0.01) -
Earnings per common share - assuming dilution 1.92$ 1.34$ 0.67$ 0.93$ 1.15$
Basic weighted average shares outstanding 32,312 33,594 34,414 35,876 40,136
Diluted weighted average shares outstanding 33,046 34,316 34,810 36,074 40,600
Balance Sheet Data
Total assets 379,639$ 350,562$ 374,487$ 347,214$ 366,832$
Total debt 97,036 55,116 94,230 61,250 140,085
Total stockholders’ equity 146,168 161,279 139,223 159,272 121,947