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Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($) $ in Thousands Dec. 31, 2018 Revenues: Total revenues $ 138,667 Restaurant operating
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($) $ in Thousands | |
Dec. 31, 2018 | |
Revenues: | |
Total revenues | $ 138,667 |
Restaurant operating expenses: | |
Cost of Goods Sold | 115,636 |
Operating income before other operating expenses | 23,031 |
Other operating expenses: | |
General and administrative | 11,202 |
Depreciation and amortization | 616 |
Impairment | 734 |
Restaurant closures and refranchising costs and related asset write-downs | 12,996 |
Loss (gain) on disposal of property and equipment and other | 47 |
Total other operating expenses | 25,595 |
Operating (loss) income | (2,564) |
Amortization of deferred debt issuance costs | (162) |
Interest income | |
Interest expense | (1,354) |
(Loss) income before income taxes | (4,080) |
Income tax benefit (expense) | 1,368 |
Net (loss) income | (2,712) |
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 30, 2018 |
Current assets: | |
Cash and cash equivalents | $ 16,020 |
Accounts and vendor receivables, net of allowance for doubtful accounts of $769 and $289 | 4,081 |
Accounts receivable, related parties, net of allowance for doubtful accounts of $28 and $28 | 543 |
Inventories, net | 2,841 |
Other current assets | 12,588 |
Total current assets | 36,073 |
Property and equipment, net | 38,164 |
Goodwill | 161,140 |
Brand | 290,500 |
Franchise rights, net | 20,284 |
Favorable leases, net | 429 |
Other noncurrent assets | 4,292 |
Total assets | 550,882 |
Current liabilities: | |
Accounts payable | 12,130 |
Accrued expenses | 24,922 |
Current maturities of capital lease obligations | 8,472 |
Other current liabilities | 4,047 |
Total current liabilities | 49,571 |
Long-term debt, less current maturities and deferred debt issuance costs, net | 97,842 |
Deferred income taxes | 64,430 |
Capital lease obligations, less current maturities | 18,619 |
Noncurrent closed store obligation | 11,316 |
Other noncurrent liabilities | 17,504 |
Total liabilities | 259,282 |
Commitments and contingencies (notes 3, 13 and 15) | |
Stockholders' equity: | |
Preferred stock, $0.01 par value; 25,000 shares authorized and no shares issued and outstanding as of both September 30, 2018 and December 31, 2017 | |
Common stock, $0.01 par value; 150,000 shares authorized, 37,883 shares issued and 37,473 shares outstanding as of September 30, 2018 and 37,069 shares issued and 36,899 shares outstanding as of December 31, 2017 | 379 |
Treasury stock, 410 and 170 shares at cost as of September 30, 2018 and December 31, 2017, respectively | (4,859) |
Additional paid-in capital | 136,830 |
Retained earnings | 158,625 |
Accumulated other comprehensive income | 625 |
Total stockholders' equity | 291,600 |
Total liabilities and stockholders' equity | $ 550,882 |
How long (days) on average does it take the firm to sell its inventory?
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