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
======= =======
|