About EDGAR Online | Login
 
Enter your Email for a Free Trial:
The following is an excerpt from a 10-Q SEC Filing, filed by MAIN STREET & MAIN INC on 5/15/2003.
Next Section Next Section Previous Section Previous Section
MAIN STREET RESTAURANT GROUP, INC. - 10-Q - 20030515 - INCOME_STATEMENT

MAIN STREET AND MAIN INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands, Except Per Share Amounts)

                                                             THREE MONTHS ENDED
                                                           ---------------------
                                                                (UNAUDITED)
                                                           MARCH 31,    APRIL 1,
                                                             2003         2002
                                                           -------      -------
Revenue ..............................................     $57,586      $55,329
                                                           -------      -------
Restaurant operating expenses
     Cost of sales ...................................      15,858       15,183
     Payroll and benefits ............................      17,698       17,134
     Depreciation and amortization ...................       2,185        1,832
     Other operating expenses ........................      17,072       15,832
                                                           -------      -------
          Total restaurant operating expenses ........      52,813       49,981
                                                           -------      -------

Income from restaurant operations ....................       4,773        5,348

     Amortization of intangible assets ...............         149           91
     General and administrative expenses .............       2,136        2,164
     Preopening expenses .............................         165          442
     New manager training expenses ...................          98          128
                                                           -------      -------

Operating income .....................................       2,225        2,523

     Interest expense and other, net .................       1,154          966
                                                           -------      -------

Net income before income tax .........................       1,071        1,557

    Income tax expense ...............................          --          289
                                                           -------      -------

Net Income ...........................................     $ 1,071      $ 1,268
                                                           =======      =======
Basic earnings per share
Net Income ...........................................     $  0.08      $  0.09
                                                           =======      =======
Diluted earnings per share
Net Income ...........................................     $  0.08      $  0.09
                                                           =======      =======
Weighted average number of shares outstanding
       -- Basic ......................................      14,142       14,053
                                                           =======      =======
Weighted average number of shares outstanding
       -- Diluted ....................................      14,142       14,801
                                                           =======      =======

BROKERAGE PARTNERS