Papa Johns 2012 Annual Report Download - page 55

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Forward-Looking Statements
Certain matters discussed in this report, including information within Management’s Discussion and
Analysis of Financial Condition and Results of Operations, and other Company communications
constitute forward-looking statements within the meaning of the federal securities laws. Generally, the
use of words such as “expect,” “estimate,” “believe,” “anticipate,” “will,” “forecast,” “plan,” “project,” or
similar words identify forward-looking statements that we intend to be included within the safe harbor
protections provided by the federal securities laws. Such statements may relate to projections concerning
business performance, revenue, earnings, contingent liabilities, resolution of litigation, commodity costs,
margins, unit growth, and other financial and operational measures. Such statements are not guarantees of
future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict
and many of which are beyond our control. Therefore, actual outcomes and results may differ materially
from those matters expressed or implied in such forward-looking statements. The risks, uncertainties and
assumptions that are involved in our forward-looking statements include, but are not limited to:
 aggressive changes in pricing or other marketing or promotional strategies by competitors which
may adversely affect sales; and new product and concept developments by food industry
competitors;
 changes in consumer preferences and adverse general economic and political conditions,
including increasing tax rates, and their resulting impact on consumer buying habits;
 the impact that product recalls, food quality or safety issues, and general public health concerns
could have on our restaurants;
 failure to maintain our brand strength and quality reputation;
 the ability of the company and its franchisees to meet planned growth targets and operate new and
existing restaurants profitably, which could be impacted by challenges securing financing, finding
suitable store locations or securing required domestic or foreign government permits and
approvals;
 increases in or sustained high costs of food ingredients and other commodities;
 disruption of our supply chain due to sole or limited source of suppliers or weather, drought,
disease or other disruption beyond our control;
 increased risks associated with our international operations, including economic and political
conditions in our international markets and difficulty in meeting planned sales targets and new
store growth for our international operations;
 increased employee compensation, benefits, insurance, regulatory compliance and similar costs,
including increased costs resulting from federal health care legislation;
 the credit performance of our franchise loan program;
 the impact of the resolution of current or future claims and litigation, and current or proposed
legislation impacting our business;
 currency exchange and interest rates;
 failure to effectively execute succession planning, and our reliance on the services of our Founder
and CEO, who also serves as our brand spokesperson;
 credit risk associated with parties to leases of restaurants and commissaries, including those
Perfect Pizza locations formerly operated by us, for which we remain contractually liable; and
 disruption of critical business or information technology systems, and risks associated with
security breaches, including theft of company and customer information.
These and other risk factors are discussed in detail in “Part I. Item 1A. – Risk Factors” of this report. We
undertake no obligation to update publicly any forward-looking statements, whether as a result of future
events, new information or otherwise, except as required by law.