Exhibit 99.1

 

RED ROBIN GOURMET BURGERS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share amounts)

(Unaudited)

 

 

 

December 30,
2007

 

December 31,
2006

 

Assets:

 

 

 

 

 

Current Assets:

 

 

 

 

 

Cash and cash equivalents

 

$

12,914

 

$

2,762

 

Accounts receivable, net

 

4,751

 

3,305

 

Inventories

 

10,367

 

8,486

 

Prepaid expenses and other current assets

 

9,246

 

5,885

 

Income tax receivable

 

4,760

 

5,862

 

Deferred tax asset

 

3,159

 

2,156

 

Restricted current assets—marketing funds

 

2,095

 

827

 

Total current assets

 

47,292

 

29,283

 

Property and equipment, net

 

399,270

 

351,736

 

Goodwill

 

56,299

 

43,496

 

Intangible assets, net

 

41,059

 

22,772

 

Other assets, net

 

4,869

 

3,311

 

Total assets

 

$

548,789

 

$

450,598

 

 

 

 

 

 

 

Liabilities and Stockholders’ Equity:

 

 

 

 

 

Current Liabilities:

 

 

 

 

 

Trade accounts payable

 

$

9,263

 

$

6,312

 

Construction related payables

 

13,416

 

17,839

 

Accrued payroll and payroll related liabilities

 

29,146

 

19,144

 

Unredeemed gift certificates

 

10,789

 

9,374

 

Accrued liabilities

 

19,404

 

15,036

 

Accrued liabilities—marketing funds

 

2,095

 

827

 

Current portion of term loan notes payable

 

11,250

 

 

Current portion of long-term debt and capital lease obligations

 

558

 

1,630

 

Total current liabilities

 

95,921

 

70,162

 

Deferred rent

 

21,728

 

18,076

 

Long-term portion of term loan notes payable

 

133,125

 

 

Other long-term debt and capital lease obligations

 

8,813

 

112,341

 

Other non-current liabilities

 

4,760

 

6,486

 

Total liabilities

 

264,347

 

207,065

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ Equity:

 

 

 

 

 

Common stock

 

17

 

17

 

Treasury stock

 

(83

)

(83

)

Paid-in capital

 

156,928

 

146,614

 

Retained earnings

 

127,580

 

96,985

 

Total stockholders’ equity

 

284,442

 

243,533

 

Total liabilities and stockholders’ equity

 

$

548,789

 

$

450,598