| Quarterly Results of Operations (unaudited) |
Quarterly Results of Operations (unaudited)
The following tables summarize the unaudited consolidated quarterly financial information for fiscal years 2014 and 2013 (in thousands, except per share data):
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Q1
(16 weeks) |
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Q2
(12 weeks) |
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Q3
(12 weeks) |
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Q4 (1)
(12 weeks) |
|
2014
(52 weeks) |
Total revenues |
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$ |
340,484 |
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$ |
256,133 |
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$ |
267,376 |
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$ |
282,109 |
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$ |
1,146,102 |
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Income from operations |
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$ |
17,042 |
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$ |
13,466 |
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$ |
9,226 |
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$ |
4,950 |
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$ |
44,684 |
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Net income |
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$ |
11,944 |
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$ |
9,470 |
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$ |
7,208 |
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$ |
3,939 |
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$ |
32,561 |
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Basic earnings per share |
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$ |
0.83 |
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$ |
0.66 |
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$ |
0.51 |
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$ |
0.28 |
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$ |
2.29 |
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Diluted earnings per share |
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$ |
0.82 |
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$ |
0.65 |
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$ |
0.50 |
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$ |
0.28 |
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$ |
2.25 |
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Q1
(16 weeks) |
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Q2
(12 weeks) |
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Q3
(12 weeks) |
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Q4 (2) (12 weeks) |
|
2013
(52 weeks) |
Total revenues |
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$ |
306,349 |
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$ |
238,299 |
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$ |
230,673 |
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$ |
241,926 |
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$ |
1,017,247 |
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Income from operations |
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$ |
13,546 |
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$ |
15,389 |
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$ |
6,802 |
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$ |
8,077 |
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$ |
43,814 |
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Net income |
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$ |
9,480 |
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$ |
11,139 |
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$ |
4,661 |
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$ |
6,959 |
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$ |
32,239 |
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Basic earnings per share |
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$ |
0.67 |
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$ |
0.78 |
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$ |
0.33 |
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$ |
0.49 |
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$ |
2.27 |
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Diluted earnings per share |
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$ |
0.66 |
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$ |
0.77 |
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$ |
0.32 |
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$ |
0.48 |
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$ |
2.22 |
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___________________________________
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(1) |
During the fourth quarter of fiscal year 2014, it was determined that three Company-owned restaurants and certain software in development related to the supply chain and human resource management modules of Company’s ERP system were impaired. The Company recognized a pre-tax non-cash impairment charge of $8.8 million for these restaurants and software.
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(2) |
During the fourth quarter of fiscal year 2013, it was determined that four Company-owned restaurants were impaired. The Company recognized a pre-tax non-cash impairment charge of $1.5 million for these restaurants.
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