O CHARLEYS INC - FORM 8-K - EX-99.1

file	filename
8-K - FORM 8-K - O CHARLEYS INC	g26705e8vk.htm

EXHIBIT 99.1

O’Charley’s Inc. and Subsidiaries
Pro Forma Consolidated Statements of Operations (unaudited)
Fiscal 2010 Pro Forma Quarterly and Annual Results ⁽¹⁾


*(Dollars in 000’s)*	Q1			Q2			Q3			Q4			FY 2010
Revenues:
Restaurant sales	$	266,767		$	190,678		$	188,291		$	183,246		$	828,982
Franchise and other revenue		333			239			351			204			1,127

		267,100			190,917			188,642			183,450			830,109

Costs and expenses:
Cost of food and beverage		78,148			56,561			56,933			55,916			247,558
Payroll and benefits		92,837			67,103			67,015			66,674			293,629
Restaurant operating costs		53,683			39,446			41,502			40,394			175,025

Cost of restaurant sales, excluding depreciation and amortization shown below
		224,668			163,110			165,450			162,984			716,212

Advertising and marketing expenses		11,673			7,869			7,947			7,166			34,655
General and administrative expenses		10,949			10,189			8,282			10,054			39,474
Depreciation and amortization of property and equipment		13,443			9,860			9,629			9,161			42,093
Impairment and disposal charges, net		3,129			126			2,497			9,246			14,998
Pre-opening costs		7			—			—			—			7

		263,869			191,154			193,805			198,611			847,439


Income (Loss) from operations		3,231			(237	)		(5,163	)		(15,160	)		(17,330	)

Other expense (income):
Interest expense, net		4,043			2,874			2,488			2,407			11,812
Other, net		2			(1	)		(6	)		(3	)		(8	)

		4,045			2,873			2,482			2,404			11,804

Loss from continuing operations and before income taxes		(814	)		(3,110	)		(7,645	)		(17,564	)		(29,134	)


(1)		Results have been adjusted to exclude results from discontinued operations.

O CHARLEYS INC - FORM 8-K - EX-99.1 - April 1, 2011