Quarterly Data (Unaudited)

12 Months Ended

Dec. 30, 2020

Quarterly Financial Information Disclosure [Abstract]

The results for each quarter include all adjustments which, in our opinion, are necessary for a fair presentation of the results for interim periods. All adjustments are of a normal and recurring nature.

Selected consolidated financial data for each quarter of fiscal 2020 and 2019 are set forth below:


	Fiscal Year Ended December 30, 2020 (1)
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(In thousands, except per share data)
Company restaurant sales	$	42,291	$	15,128	$	27,849	$	32,892
Franchise and licensing revenue	54,404		25,033		43,795		47,213
Total operating revenue	96,695		40,161		71,644		80,105
Total operating costs and expenses	78,649		53,688		68,404		81,185
Operating income (loss)	$	18,046	$	(13,527)	$	3,240	$	(1,080)
Net income (loss)	$	9,013	$	(22,965)	$	6,477	$	2,359
Basic net income (loss) per share (2)	$	0.16	$	(0.41)	$	0.10	$	0.04
Diluted net income (loss) per share (2)	$	0.16	$	(0.41)	$	0.10	$	0.04


	Fiscal Year Ended December 25, 2019 (3)
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(In thousands, except per share data)
Company restaurant sale	$	98,545	$	95,447	$	63,582	$	48,803
Franchise and licensing revenue	52,866		56,437		60,676		65,033
Total operating revenue	151,411		151,884		124,258		113,836
Total operating costs and expenses	127,280		105,769		56,084		87,273
Operating income	$	24,131	$	46,115	$	68,174	$	26,563
Net income	$	15,490	$	34,239	$	49,122	$	18,559
Basic net income per share (2)	$	0.25	$	0.57	$	0.83	$	0.32
Diluted net income per share (2)	$	0.24	$	0.55	$	0.80	$	0.31

(1)During 2020, the COVID-19 pandemic had a significant adverse impact on the Company’s business performance, results of operations and cash flows. The fiscal year ended December 30, 2020 includes 53 weeks of operations compared with 52 weeks for all other years presented.

(2)Per share amounts do not necessarily sum to the total year amounts due to changes in shares outstanding and rounding.

(3)During 2019, the Company migrated from a 90% franchised business model to one that is 96% franchised by selling company owned restaurants to franchisees which resulted in, among other items, a reduction in revenues and the recording of approximately $82.9 million of gains. In addition, the Company also recorded an additional $11.9 million of gains related to the sale of real estate. See Note 13 and Note 14 for details.