Quarterly Financial Information

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information [Abstract]

Quarterly Financial Information

(17) Quarterly Financial Information (Unaudited)

The following tables set forth certain unaudited consolidated financial information for each of the four quarters in fiscal 2013 and fiscal 2012 (in thousands, except per share data).

	Fiscal Year Ended December 31, 2013
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter		Total Year
Revenues	$	59,802	$	60,359	$	54,183	$	97,462	$	271,806
Operating income		4,904		6,935		(759)		6,811		17,891
Income from continuing operations		3,569		4,431		(380)		4,592		12,212
Net income		3,569		4,431		(380)		4,592		12,212
Basic income (loss) per common share:
Continuing operations	$	0.15	$	0.19	$	(0.02)	$	0.19	$	0.51
Discontinued operations		—		—		—		—		—
Basic income (loss) per share	$	0.15	$	0.19	$	(0.02)	$	0.19	$	0.51
Basic weighted average shares outstanding		23,795		23,795		23,801		23,744		23,780
Diluted income (loss) per common share:
Continuing operations	$	0.15	$	0.19	$	(0.02)	$	0.19	$	0.51
Discontinued operations		—		—		—		—		—
Diluted income (loss) per share	$	0.15	$	0.19	$	(0.02)	$	0.19	$	0.51
Diluted weighted average shares outstanding		23,795		23,827		23,937		23,859		23,852
	Fiscal Year Ended December 25, 2012
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter		Total Year
Revenues	$	52,943	$	50,736	$	47,887	$	80,869	$	232,435
Operating income		8,253		6,611		(923)		10,680		24,621
Income from continuing operations		4,899		3,628		(1,794)		7,840		14,573
Net income		4,986		3,626		(2,422)		7,564		13,754
Basic income (loss) per common share:
Continuing operations	$	0.27	$	0.20	$	(0.09)	$	0.33	$	0.71
Discontinued operations		0.01		—		(0.03)		(0.01)		(0.04)
Basic income (loss) per share	$	0.28	$	0.20	$	(0.12)	$	0.32	$	0.67
Basic weighted average shares outstanding		17,995		17,995		20,826		23,795		20,433
Diluted income (loss) per common share:
Continuing operations	$	0.27	$	0.20	$	(0.09)	$	0.33	$	0.71
Discontinued operations		0.01		—		(0.03)		(0.01)		(0.04)
Diluted income (loss) per share	$	0.28	$	0.20	$	(0.12)	$	0.32	$	0.67
Diluted weighted average shares outstanding		17,995		17,995		20,826		23,795		20,433

During the first fiscal quarter of 2013, the Company incurred$412 in secondary public offering costs and a $1,805 public offering transaction bonus expense associated with the March secondary public offering. During the third fiscal quarter of 2013, the Company incurred$381 in secondary public offering costs and a $3,705 public offering transaction bonus expense associated with the July secondary public offering. During the fourth fiscal quarter of 2013, the Company incurred a $2,360 non-cash impairment charge related to the Seattle Sullivan’s location, $231 in secondary public offering costs and a $2,845 public offering transaction bonus expense associated with the December secondary public offering.

During the third fiscal quarter of 2012, the Company incurred an asset management termination fee of $3,000, a $1,462 public offering transaction bonus expense associated with the IPO, and $1,649 in expenses associated with the write-off of debt issuance costs.

In management’s opinion, the unaudited quarterly information shown above has been prepared on the same basis as the audited consolidated financial statements and includes all necessary adjustments that management considers necessary for a fair presentation of the unaudited quarterly results when read in conjunction with the consolidated financial statements and the accompanying notes. The Company believes that quarter-to-quarter comparisons of its financial results are not necessarily indicative of future performance.