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Quarterly Financial Information
 12 Months Ended
Dec. 30, 2014
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 2014 and fiscal 2013 (in thousands, except per share data).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year Ended December 30, 2014

 

First

 

Second

 

Third

 

Fourth

 

 

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Total Year

Revenues

$
66,622 

 

$
67,386 

 

$
61,949 

 

$
105,848 

 

$
301,805 

Operating income

 
6,749 

 

 
6,920 

 

 
2,452 

 

 
8,419 

 

 
24,540 

Income from continuing operations

 
4,522 

 

 
4,769 

 

 
1,785 

 

 
5,521 

 

 
16,597 

Net income

 
4,522 

 

 
4,769 

 

 
1,785 

 

 
5,521 

 

 
16,597 

Basic income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$
0.19 

 

$
0.20 

 

$
0.08 

 

$
0.24 

 

$
0.71 

Discontinued operations

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

Basic income per share

$
0.19 

 

$
0.20 

 

$
0.08 

 

$
0.24 

 

$
0.71 

Basic weighted average shares outstanding

 
23,627 

 

 
23,579 

 

 
23,464 

 

 
23,430 

 

 
23,518 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$
0.19 

 

$
0.20 

 

$
0.08 

 

$
0.23 

 

$
0.70 

Discontinued operations

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

Diluted income per share

$
0.19 

 

$
0.20 

 

$
0.08 

 

$
0.23 

 

$
0.70 

Diluted weighted average shares outstanding

 
23,856 

 

 
23,847 

 

 
23,683 

 

 
23,611 

 

 
23,740 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

 

During the fourth fiscal quarter of 2014, the Company incurred a $3,536 non-cash impairment charge related to the Phoenix Grille location.

 

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.

 

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.