|
Consolidated Statements of Cash Flows (USD $)
|
12 Months Ended |
|
Dec. 28, 2014
|
Dec. 29, 2013
|
Dec. 30, 2012
|
| Net income |
$ 16,455,000 |
$ 22,489,000 |
$ 16,379,000 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
13,185,000 |
13,060,000 |
14,556,000 |
| Deferred income taxes |
753,000 |
6,093,000 |
3,224,000 |
| Non-cash interest expense |
421,000 |
421,000 |
476,000 |
| Debt issuance costs written-off |
0 |
0 |
807,000 |
| Loss on impairment and asset disposals |
15,805,000 |
3,262,000 |
4,955,000 |
| Amortization of below market lease |
129,000 |
129,000 |
129,000 |
| Gain on the settlement of unclaimed property liabilities |
|
|
(683,000) |
| Stock-based compensation expense |
2,821,000 |
2,343,000 |
2,322,000 |
| Accounts receivables |
(7,049,000) |
(2,114,000) |
1,420,000 |
| Inventories |
(151,000) |
8,000 |
(563,000) |
| Prepaid expenses and other |
1,193,000 |
(621,000) |
(415,000) |
| Other assets |
200,000 |
225,000 |
48,000 |
| Accounts payable and accrued expenses |
(2,669,000) |
3,036,000 |
7,931,000 |
| Deferred revenue |
2,717,000 |
622,000 |
1,132,000 |
| Deferred rent |
50,000 |
(1,123,000) |
1,321,000 |
| Other liabilities |
(512,000) |
(34,000) |
285,000 |
| Net cash provided by operating activities |
43,348,000 |
47,796,000 |
53,324,000 |
| Cash flows from investing activities: |
|
|
|
| Acquisition of property and equipment |
(17,365,000) |
(15,311,000) |
(11,457,000) |
| Acquisition of franchise restaurant, net of cash acquired |
(2,800,000) |
|
|
| Proceeds on disposal of property and equipment |
149,000 |
1,104,000 |
161,000 |
| Net cash used in investing activities |
(20,016,000) |
(14,207,000) |
(11,296,000) |
| Cash flows from financing activities: |
|
|
|
| Principal repayments on long-term debt |
(32,000,000) |
(32,500,000) |
(47,000,000) |
| Principal borrowings on long-term debt |
26,000,000 |
6,500,000 |
70,000,000 |
| Repurchase of common stock |
(15,409,000) |
|
|
| Redemption of Series A 10% redeemable convertible preferred stock |
|
|
(59,740,000) |
| Cash dividend payments |
(7,138,000) |
(4,278,000) |
(1,103,000) |
| Excess tax benefits from stock compensation |
1,868,000 |
1,132,000 |
16,000 |
| Tax payments from the vesting of restricted stock and option exercises |
(3,121,000) |
(1,974,000) |
|
| Deferred financing costs |
0 |
0 |
(610,000) |
| Proceeds from exercise of stock options |
183,000 |
208,000 |
393,000 |
| Net cash used in financing activities |
(29,617,000) |
(30,912,000) |
(38,044,000) |
| Net increase (decrease) in cash and cash equivalents |
(6,285,000) |
2,677,000 |
3,984,000 |
| Cash and cash equivalents at beginning of period |
10,586,000 |
7,909,000 |
3,925,000 |
| Cash and cash equivalents at end of period |
4,301,000 |
10,586,000 |
7,909,000 |
| Cash paid during the period for: |
|
|
|
| Interest, net of capitalized interest |
709,000 |
1,272,000 |
1,983,000 |
| Income taxes |
2,135,000 |
2,383,000 |
2,643,000 |
| Noncash investing and financing activities: |
|
|
|
| Excess accrual-based acquisition of property and equipment |
$ 1,243,000 |
$ 1,213,000 |
$ (117,000) |