Print Page  |  Close Window

SEC Filings

S-1/A
CHIPOTLE MEXICAN GRILL INC filed this Form S-1/A on 12/23/2005
Entire Document
 << Previous Page | Next Page >>


SELECTED CONSOLIDATED FINANCIAL DATA

        Our selected consolidated financial data shown below should be read together with our "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements and respective notes included elsewhere in this prospectus. The selected consolidated statements of operations data for the years ended December 31, 2002, 2003 and 2004 and the consolidated balance sheet data at December 31, 2003 and 2004 have been derived from our audited consolidated financial statements included elsewhere in this prospectus. The selected consolidated balance sheet data at December 31, 2002 have been derived from audited consolidated financial statements not included in this prospectus. Our consolidated financial statements for the years ended December 31, 2002, 2003 and 2004 have been audited and reported upon by Ernst & Young LLP, an independent registered public accounting firm. The selected consolidated statements of operations data for the years ended December 31, 2000 and 2001 and the consolidated balance sheet data at December 31, 2000 and 2001 have been derived from unaudited financial statements not included in this prospectus. The selected 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 included elsewhere in this prospectus and include all adjustments consisting only of normal recurring adjustments necessary for a fair presentation of the results of the interim periods. The data shown below are not necessarily indicative of results to be expected for any future period.

 
  Year Ended December 31,
  Nine Months Ended September 30,
 
 
  2000
  2001
  2002
  2003
  2004
  2004
  2005
 
 
  (in thousands, except per share data)

 
Statements of Operations:                                            
Revenue                                            
  Restaurant sales   $ 67,757   $ 131,331   $ 203,892   $ 314,027   $ 468,579   $ 341,750   $ 452,593  
  Franchise royalties and fees         267     753     1,493     2,142     1,503     1,789  
   
 
 
 
 
 
 
 
Total revenue     67,757     131,598     204,645     315,520     470,721     343,253     454,382  
   
 
 
 
 
 
 
 
Food, beverage and packaging costs     23,920     45,236     67,681     104,921     154,148     111,414     146,863  
Labor costs     24,370     46,048     66,515     94,023     139,494     101,756     129,678  
Occupancy costs     5,825     11,742     18,716     25,570     36,190     26,192     34,517  
Other operating costs     10,612     21,553     29,791     43,527     64,274     46,108     59,408  
General and administrative expenses     15,746     20,687     25,803     34,189     44,837     29,190     37,212  
Depreciation and amortization     4,985     8,730     11,260     15,090     21,802     15,807     20,392  
Pre-opening costs     2,811     2,245     1,022     1,631     2,192     1,561     1,247  
Loss on disposal of assets     49     79     1,489     4,504     1,678     1,364     1,806  
   
 
 
 
 
 
 
 
Total costs and expenses     88,318     156,320     222,277     323,455     464,615     333,392     431,123  
   
 
 
 
 
 
 
 
Income (loss) from operations     (20,561 )   (24,722 )   (17,632 )   (7,935 )   6,106     9,861     23,259  
Interest income     1,460     735     444     249     211     172     23  
Interest expense     (441 )   (13 )   (101 )   (28 )   (191 )   (191 )   (663 )
   
 
 
 
 
 
 
 
Income (loss) before income taxes     (19,542 )   (24,000 )   (17,289 )   (7,714 )   6,126     9,842     22,619  
Benefit for income taxes(1)                             10,815  
   
 
 
 
 
 
 
 
Net income (loss)   $ (19,542 ) $ (24,000 ) $ (17,289 ) $ (7,714 ) $ 6,126   $ 9,842   $ 33,434  
   
 
 
 
 
 
 
 
Historical earnings per share(2)                                            
  Basic   $ (1.32 ) $ (0.87 ) $ (0.44 ) $ (0.17 ) $ 0.08   $ 0.13   $ 0.42  
  Diluted   $ (1.32 ) $ (0.87 ) $ (0.44 ) $ (0.17 ) $ 0.08   $ 0.13   $ 0.42  
Shares used in computing historical earnings (loss) per share(2)                                            
  Basic     14,819,978     27,719,316     39,324,552     46,683,077     76,362,851     75,530,424     78,842,039  
  Diluted     14,819,978     27,719,316     39,324,552     46,683,077     76,560,424     75,727,997     78,986,898  
Adjusted Earnings (loss) per common share(3):                                            
  Basic   $ (3.96 ) $ (2.60 ) $ (1.32 ) $ (0.50 ) $ 0.24   $ 0.39   $ 1.27  
  Diluted   $ (3.96 ) $ (2.60 ) $ (1.32 ) $ (0.50 ) $ 0.24   $ 0.39   $ 1.27  

Shares used in computing adjusted earnings (loss) per common share(3):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Basic     4,939,993     9,239,772     13,108,184     15,561,026     25,454,284     25,176,808     26,280,680  
  Diluted     4,939,993     9,239,772     13,108,184     15,561,026     25,520,142     25,242,665     26,328,966  

29


 << Previous Page | Next Page >>