EFTA01365824.pdf

Amendment No. 3 to Form S-I Table of Contents Pre-opening Costs Pre-opening costs increased $2.3 million to $4.8 million for Fiscal 2013, due to five restaurants incurring pm-opening costs during the current period compared to three in the prior period. Loss on Modification ofDebt Loss on modification of debt was $6.9 million for Fiscal 2013, due to a non-cash charge related to the re-pricing of our First Lien Credit Facility in August 2013. Loss on modification of debt was $7.8 million for Fiscal 2012. due to non-cash charges related to the financing of the Acquisition in July 2012. Interest Expense Interest expense increased $4.1 million, or 22.4%, for Fiscal 2013, due to a higher average debt balance in 2013 versus 2012 due to the additional debt incurred to finance the Acquisition in July 2012. Income Tax Expense Income tax expense increased $2.4 million to $2.5 million for Fiscal 2013, due to an increase in net income of $1.5 million from a net loss of $17.8 million in the prior year. Additionally, in Fiscal 2013 we recorded a $2.5 million charge to income tax expense to establish a valuation allowance on deferred tax assets. Restaurant Contribution six Crewe Predecessor combined Prrkolfrom Ma) 24 (Inctpliell) to Period from Fiscal Tear Ended Fiscal Year Ended December SO. Joinery 1 December 29.2013 December .30. 2012 2012 toJuly 20.2012 (St weeks) (52 weeks) Increase ((Decrease) (23 weeks) (29 weeks) °A. (dollar in i housands) Dollars %(a) Dallas •/o(a) Dollars %(b) (c) Dollars Dollars Revenue G.S. Restaurant S 162.442 74.1% S 146.180 72.2% 516.262 11.1'° 1.9°. S 66.853 S 79.327 Brazil Restaurant 56.797 25.9 56.180 27.8 617 1.1 (1.9) 26.991 29.189 Total revenue 5219.239 100.000 5202.360 100.0°. S 16.879 8.3°. • S 93.844 S 108.516 Restaurant operating costs 5113.111 69.6'o S 105.679 72.3°0 S 7.432 7.0!' (2.7%) S 49.336 S 56.343 Brazil 37.454 65.9 35.226 62.7 2.228 6.3 3.2 16.648 18.578 Total restaurant operating costs S 150.565 68.7% S 140.905 69.6°. S 9.660 6.9% (0.9%) S 65.984 S 74.921 Restaurant contribution S 49.331 30.4% 5 40.501 27.7% S 8.830 21.8,• 2.7% S 17.517 S 22.984 Brazil 19.343 34.1 20.954 37.3 (1.611) (7.7) (3.2) 10.343 10.611 Total ri:slaurant contribution S 68.674 31.3% S 61.455 30.4% S 7.219 11.7% 0.9% S 27.860 S 33.595 (a) Calculated as a paCentage of total revenue or segment revenue where applicable. (b) Calculated percentage increase (decrease) in dollars. (c) Calculated increase ." (decrease) in percentage of total revenue or segment revenue where applicable. Not meaningful. Total restaurant contribution increased $7.2 million, or 11.7%, for Fiscal 2013, primarily due to a $6.2 million increase related to new restaurants opened since the end of the prior period as well as the full period of operation of restaurants opened in the prior period. As a percentage of total revenue, total restaurant contribution increased from 30.4% to 31.3%. As a percentage of U.S. restaurant revenue. U.S. contribution margin increased 2.7% from 27.7% to 30.4%, due to a 1.6% Suction in food and beverage costs due to favorable pricing on beef contracts executed in 2013 and management's focus on waste Suction, a 1.0% Suction in compensation and benefit costs due to improved labor productivity and a Suction in share-based compensation expense recognized. 78 CR1806502dslanif6/17/2015 12:26:00 PM] CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0057030 CONFIDENTIAL SONY GM_00203214 EFTA01365824