Print Page  |  Close Window

SEC Filings

S-1/A
CHIPOTLE MEXICAN GRILL INC filed this Form S-1/A on 12/05/2005
Entire Document
 << Previous Page | Next Page >>


SUMMARY CONSOLIDATED FINANCIAL DATA

        Our summary consolidated financial data shown below should be read together with "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements and related notes included elsewhere in this prospectus. The summary consolidated statements of operations data for the years ended December 31, 2002, 2003 and 2004 have been derived from our audited consolidated financial statements included elsewhere in this prospectus, and the summary consolidated statements of operations data for the nine months ended September 30, 2004 and 2005 and the balance sheet data at September 30, 2005 have been derived from our unaudited consolidated financial statements and include all adjustments consisting only of normal recurring adjustments necessary for a fair presentation of the results of the interim periods.

 
  Year Ended December 31,
  Nine Months Ended September 30,
 
 
  2002
  2003
  2004
  2004
  2005
 
 
  (in thousands, except per share data, store data and percentages)

 
Statements of Operations Data:                                
Revenue                                
  Restaurant sales   $ 203,892   $ 314,027   $ 468,579   $ 341,750   $ 452,593  
  Franchise royalties and fees     753     1,493     2,142     1,503     1,789  
   
 
 
 
 
 
Total revenue     204,645     315,520     470,721     343,253     454,382  
   
 
 
 
 
 
Food, beverage and packaging costs     67,681     104,921     154,148     111,414     146,863  
Labor costs     66,515     94,023     139,494     101,756     129,678  
Occupancy costs     18,716     25,570     36,190     26,192     34,517  
Other operating costs     29,791     43,527     64,274     46,108     59,408  
General and administrative expenses     25,803     34,189     44,837     29,190     37,212  
Depreciation and amortization     11,260     15,090     21,802     15,807     20,392  
Pre-opening costs     1,022     1,631     2,192     1,561     1,247  
Loss on disposal of assets     1,489     4,504     1,678     1,364     1,806  
   
 
 
 
 
 
Total costs and expenses     222,277     323,455     464,615     333,392     431,123  
   
 
 
 
 
 
Income (loss) from operations     (17,632 )   (7,935 )   6,106     9,861     23,259  
Interest income     444     249     211     172     23  
Interest expense     (101 )   (28 )   (191 )   (191 )   (663 )
   
 
 
 
 
 
Income (loss) before income taxes     (17,289 )   (7,714 )   6,126     9,842     22,619  
Benefit for income taxes(1)                     10,815  
   
 
 
 
 
 
Net income (loss)   $ (17,289 ) $ (7,714 ) $ 6,126   $ 9,842   $ 33,434  
   
 
 
 
 
 

Earnings (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Basic   $     $     $     $     $    
  Diluted                                

Shares used in computing earnings (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Basic                                
  Diluted                                

Pro forma earnings per common share(2):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Basic                                
  Diluted                                

Shares used in computing pro forma earnings per common share(2):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Basic                                
  Diluted                                

Selected Operating Data:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Restaurant Data:                                
  Number of stores in operation at end of period(3)     227     298     401     373     453  
  Average store sales(4)   $ 1,056   $ 1,274   $ 1,361   $ 1,365   $ 1,406  
  Comp store sales growth(5)     17.0 %   24.4 %   13.3 %   14.4 %   8.7 %
  Number of stores opened during period(6)     57     76     104     75     52  
EBITDA(7)   $ (6,372 ) $ 7,155   $ 27,908   $ 25,668   $ 43,651  
EBITDA as a percentage of revenue     (3.1 )%   2.3 %   5.9 %   7.5 %   9.6 %
Net cash provided by operating activities   $ 5,971   $ 22,069   $ 39,672   $ 31,073   $ 52,569  

7


 << Previous Page | Next Page >>