Exhibit 99.1

P.F.CHANG’S EARNS $0.27 PER SHARE BEFORE SPECIAL CHARGES

SCOTTSDALE, Arizona, April 21, 2004 – P.F. Chang’s China Bistro, Inc. (NASDAQ:PFCB) today reported earnings of $7.0 million before certain special charges for the first quarter ended March 28, 2004 compared to $6.4 million in the first quarter of the prior year. Earnings per share for the first quarter increased to $0.27 before the special charges from $0.25 in the first quarter of the prior year. Special charges for the quarter relate to the company’s recent modification of its accounting for its partnership structure as well as the settlement of various California litigation. After giving effect to these special charges, the company incurred a net loss, on a reported basis, for the first quarter of 2004 of $(562,000), which equated to a loss per share of $(0.02). A more thorough discussion of these special charges can be found in our most recent Form 10-K, filed on March 15, 2004.

(000 except per share data)	1Q04			4Q03		1Q03
Revenues	$	169,793		$	151,316	$	131,595
Net Income (before special charges)	$	7,026		$	6,867	$	6,398
Diluted Earnings Per Share (before special charges)	$	0.27		$	0.26	$	0.25
Legal settlement costs (net of tax)	$	514		$	—	$	—
Prior year partner investment expense (net of tax) *	$	7,074		$	—	$	—
Net income (loss)	$	(562	)	$	6,867	$	6,398
Net income (loss) Per Share	$	(0.02	)	$	0.26	$	0.25
Share calculation		25,559			26,402		26,038

* Prior year partner investment expense represents the write-off of all unamortized portions of the difference between the imputed fair value and the actual cash contributions paid by our partners for their partnership interests in all restaurants opened prior to December 28, 2003, associated with the modification of the underlying partnership agreements. A more thorough discussion of this and other partner accounting related charges can be found in our SEC filings.

During the first quarter of 2004, the company opened six new Bistro restaurants (Sugar Land, TX; San Jose, CA; Henderson, NV; Maple Grove, MN; West Chester, OH; and Seattle, WA). Additionally, the company opened five new Pei Wei Asian Diner restaurants (Torrance, CA, Dallas; TX; Albuquerque, NM; Tucson, AZ; and Salt Lake City, UT)

Page 1 of 10

2004 Expectations

The company anticipates opening 18 new Bistro units (seven of which are already open) and 20 new Pei Wei units (six of which are already open) in 2004. Based on this development schedule, and assuming revenue growth at existing Bistros of 3% (which includes an approximately 1% menu price increase implemented in April 2004), the company expects consolidated revenues of $725 million in 2004, a 30% increase over fiscal 2003. Net income (before special charges) is anticipated to be $34 million, which equates to earnings per share of $1.27. After giving effect to the special charges, the company expects net income of $26 million and earnings per share of $0.98. The company will have one additional week in fiscal 2004 (a 53-week year versus the typical 52-week year) which is reflected in the full-year estimates noted above. The company will report its second quarter 2004 revenue results on June 30, 2004 and its second quarter earning results on July 21, 2004.

The company is hosting a conference call today at 1:00 pm ET. A webcast of the call can be accessed through the company’s website at http://www.pfchangs.com.

P.F. Chang’s China Bistro, Inc. owns and operates two restaurant concepts in the Asian niche. P.F. Chang’s China Bistro features a blend of high-quality, traditional Chinese cuisine and American hospitality in a sophisticated, contemporary bistro setting. Pei Wei Asian Diner offers a modest menu of freshly prepared Asian cuisine in a relaxed, warm environment offering attentive counter service and take-out flexibility.

Note Regarding Use of Non-GAAP Financial Measures

The company believes the presentation of certain results excluding the special non-recurring charges relating to the recent modification of its accounting for its partnership structure will help investors assess its past and future financial and operating performance without the distortion created by significant special charges associated with this one-time event. The special charges relate to the write-off of all unamortized portions of the difference between imputed fair value and the actual cash contributions paid by our partners for their partnership interests in all of our restaurants opened prior to December 28, 2003, associated with the modification of the underlying partnership agreements.

In addition, although the company is engaged in litigation from time to time, management believes the special charges associated with the settlement of relatively significant litigation matters may impair an investor’s ability to evaluate the profitability and performance of our ongoing operations. Accordingly, the presentation of certain results excluding special charges related to the settlement of various litigation has been provided to assist investors in evaluating our financial and operating performance.

Reconciliations between the company’s results and pro forma results for the periods reported are presented in the attached tables.

Page 2 of 10

Note Regarding Forward-Looking Statements

The statements contained in this press release that are not purely historical, including the company’s estimates of its revenues, earnings and comparable sales, as well as statements concerning the company’s development schedule, are forward looking statements. The accuracy of these forward-looking statements may be affected by certain risks and uncertainties, including, but not limited to, the company’s ability to locate acceptable restaurant sites, open new restaurants and operate its restaurants profitably; the company’s ability to hire, train and retain skilled management and other personnel; changes in costs related to food, utilities and labor; the company’s ability to access sufficient financing on acceptable terms; changes in consumer tastes and trends, and national, regional and local economic and weather conditions; and other risks described in the company’s recent SEC filings. In addition, the supplemental sales information is provided to investors to help gauge the company’s performance and is not indicative of future results.

Contact:	P.F. Chang’s China Bistro, Inc.	(602) 957-8986
	Media:	Laura Cherry	laurac@pfchangs.com
	Investor:	Kristina Cashman	kristinac@pfchangs.com

Page 3 of 10

P.F. Chang’s China Bistro, Inc.

Consolidated Statements of Income
(In thousands, except per share amounts)
(Unaudited)

	13 Weeks Ended			13 Weeks Ended			13 Weeks Ended
	Mar 28			Dec 28			Mar 30
	2004			2003			2003
Revenues		169,793		$	151,316			131,595
Cost of sales		46,860			41,872			35,249
Labor		54,631			46,819			41,668
Partner bonus expense		377			378			365
Operating		28,354			25,292			21,608
Occupancy		9,066			7,812			7,419
Restaurant operating profit		30,505			29,143			25,286
General & administrative		8,728			7,744			6,782
Depreciation & amortization		5,802			5,387			4,262
Preopening expenses		2,312			2,867			1,984
Partner investment expense		13,471			906			753
Income from operations		192			12,239			11,505
Interest (expense) income and other income		91			76			119
Minority interests		(2,280	)		(1,963	)		(1,975	)
Income before provision for income taxes		(1,997	)		10,352			9,649
Provision for income taxes		1,435			(3,485	)		(3,251	)
Net income	$	(562	)	$	6,867		$	6,398
Basic net income (loss) per share	$	(0.02	)	$	0.27		$	0.25
Diluted net income (loss) per share	$	(0.02	)	$	0.26		$	0.25
Shares used in calculation of basic EPS		25,559			25,491			25,137
Shares used in calculation of diluted EPS		25,559			26,402			26,038

	Percentage of Revenues
	Mar 28			Dec 28			Mar 30
	2004			2003			2003
Revenues		100.0	%		100.0	%		100.0	%
Cost of sales		27.6	%		27.7	%		26.8	%
Labor		32.2	%		30.9	%		31.7	%
Partner bonus expense		0.2	%		0.2	%		0.3	%
Operating		16.7	%		16.7	%		16.4	%
Occupancy		5.3	%		5.2	%		5.6	%
Restaurant operating profit		18.0	%		19.3	%		19.2	%
General & administrative		5.1	%		5.1	%		5.2	%
Depreciation & amortization		3.4	%		3.6	%		3.2	%
Preopening expenses		1.4	%		1.9	%		1.5	%
Partner investment expense		7.9	%		0.6	%		0.6	%
Income from operations		0.2	%		8.1	%		8.7	%
Interest (expense) income and other income		0.1	%		0.1	%		0.1	%
Minority interests		-1.3	%		-1.3	%		-1.5	%
Income before provision for income taxes		-1.1	%		6.8	%		7.3	%
Provision for income taxes		0.8	%		-2.3	%		-2.5	%
Net income		-0.3	%		4.5	%		4.9	%

Certain percentage amounts do not sum to total due to rounding.

Page 4 of 10

P.F. Chang’s China Bistro, Inc.

Supplemental Financial Information
(In thousands, except per share amounts)
(Unaudited)

	13 Weeks Ended March 28, 2004
	Total			Bistro			Pei Wei
Revenues		169,793			150,123			19,670
Cost of sales		46,860			41,232			5,628
Labor		54,631			48,252			6,380
Partner bonus expense		377			350			28
Operating		28,354			25,161			3,193
Occupancy		9,066			7,793			1,273
Restaurant operating profit		30,505			27,336			3,168
General & administrative		8,728			7,298			1,430
Depreciation & amortization		5,802			5,039			763
Preopening expenses		2,312			1,736			576
Partner investment expense		13,471			11,775			1,696
Income (loss) from operations		192			1,488			(1,297	)
Interest (expense) income and other income		91			91			0
Minority interests		(2,280	)		(2,089	)		(191	)
Income (loss) before provision for income taxes		(1,997	)		(510	)		(1,488	)
Provision for income taxes		1,435
Net income		(562	)
Basic net income per share		(0.02	)
Diluted net income per share		(0.02	)
Shares used in calculation of basic EPS		25,559
Shares used in calculation of diluted EPS		25,559

	Percentage of Revenues
	Total			Bistro			Pei Wei
Revenues		100.0	%		100.0	%		100.0	%
Cost of sales		27.6	%		27.5	%		28.6	%
Labor		32.2	%		32.1	%		32.4	%
Partner bonus expense		0.2	%		0.2	%		0.1	%
Operating		16.7	%		16.8	%		16.2	%
Occupancy		5.3	%		5.2	%		6.5	%
Restaurant operating profit		18.0	%		18.2	%		16.1	%
General & administrative		5.1	%		4.9	%		7.3	%
Depreciation & amortization		3.4	%		3.4	%		3.9	%
Preopening expenses		1.4	%		1.2	%		2.9	%
Partner investment expense		7.9	%		7.8	%		8.6	%
Income (loss) from operations		0.2	%		1.0	%		-6.6	%
Interest (expense) income and other income		0.1	%		0.1	%		0.0	%
Minority interests		-1.3	%		-1.4	%		-1.0	%
Income (loss) before provision for income taxes		-1.1	%		-0.3	%		-7.6	%
Provision for income taxes		0.8	%
Net income		-0.3	%

Certain percentage amounts do not sum to total due to rounding.

Page 5 of 10

P.F. Chang’s China Bistro, Inc.
Development Schedule

P. F. Chang’s China Bistro

	1Q04		2Q04		3Q04		4Q04
Units opened		6		1
Units under construction				1		4
Units in development								6
Total new unit development		6		2		4		6
Existing units		97		103		105		109
Total units		103		105		109		115

Pei Wei Asian Diner

	1Q04		2Q04		3Q04		4Q04
Units opened		5		1
Units under construction				5		2
Units in development						2		5
Total new unit development		5		6		4		5
Existing units		33		38		44		48
Total units		38		44		48		53

Page 6 of 10

P.F. Chang’s China Bistro

Supplemental Sales Information

Year of Unit Opening (1)

	Pre-1998			1998			1999			2000			2001			2002			2003			2004		Total
Units		13			10			13			16			13			14			18			6		103
Sales (000)
1Q04		21,930			15,815			19,467			24,629			19,831			18,613			25,687			4,151		150,123
Average Weekly Sales (AWS)
1Q04		129,761			121,654			115,188			118,409			117,347			102,268			109,773			101,238		115,302
Year-Over-Year Change in AWS
1Q04		2.5	%		0.4	%		3.6	%		6.0	%		5.4	%		3.5	%		-23.8	%		—		1.2	%
Year-Over-Year Change Comp Store Sales (2)
Units		13			10			13			16			13			11			—			—		76
1Q04		2.5	%		0.4	%		3.6	%		6.0	%		5.4	%		6.8	%		—			—		4.0	%

(1) Includes all restaurants opened in the period indicated.

(2) A unit becomes comparable in the eighteenth month of operation.

Page 7 of 10

Pei Wei Asian Diner

Supplemental Sales Information

Year of Unit Opening (1)

	2000			2001			2002			2003			2004		Total
Units		1			4			11			17			5		38
Sales (000)
1Q04		888			2,356			6,040			9,130			1,256		19,670
Average Weekly Sales (AWS)
1Q04		68,328			45,318			42,236			41,311			41,862		42,855
Year-Over-Year Change in AWS
1Q04		2.3	%		-1.4	%		4.8	%		-21.2	%		—		-4.1	%
Year-Over-Year Change Comp Store Sales (2)
Units		1			4			11			—			—		16
1Q04		2.3	%		-1.4	%		4.2	%		—			—		2.3	%

(1) Includes all restaurants opened in the period indicated.

(2) A unit becomes comparable in the eighteenth month of operation.

Page 8 of 10

P.F. Chang’s China Bistro, Inc.

2004 Forecast

	1Q04A									2Q04E									3Q04E
	Bistro			Pei Wei			Total			Bistro			Pei Wei			Total			Bistro			Pei Wei			Total
Store weeks		1,302			459			1,761			1,349			500			1,849			1,385			600			1,985
Average weekly sales (000)		115.3			42.9			96.4			113.3			41.7			93.9			111.7			40.2			90.1
Revenues (millions)		150.1			19.7			169.8			152.8			20.8			173.6			154.7			24.1			178.8
Restaurant operating profit		27.3			3.2			30.5			28.6			3.2			31.8			29.1			3.6			32.7
General & administrative		6.5			1.4			8.0			7.0			1.5			8.6			7.1			1.6			8.7
Depreciation & amortization		5.0			0.8			5.8			5.2			0.9			6.1			5.4			1.1			6.4
Preopening expenses		1.7			0.6			2.3			1.1			0.7			1.8			2.0			0.7			2.7
Partner investment expense		1.7			0.3			2.0			0.6			0.3			0.9			1.4			0.3			1.7
Other income		(0.1	)		—			(0.1	)		(0.1	)		—			(0.1	)		(0.1	)		—			(0.1	)
Minority interest		2.1			0.2			2.3			2.1			0.2			2.3			2.1			0.2			2.3
Income (loss) before tax provision and special charges		10.3			(0.1	)		10.3			12.8			(0.5	)		12.3			11.3			(0.3	)		11.0
Tax provision (before special charges)		3.3			(0.0	)		3.2			4.0			(0.2	)		3.9			3.6			(0.1	)		3.5
Net income (before special charges)		7.1			(0.1	)		7.0			8.8			(0.4	)		8.4			7.7			(0.2	)		7.6
FD shares		26.4			26.4			26.4			26.6			26.6			26.6			26.8			26.8			26.8
EPS (before special charges)	$	0.27		$	(0.00	)	$	0.27		$	0.33		$	(0.01	)	$	0.32		$	0.29		$	(0.01	)	$	0.28
Legal settlement (net of tax)		0.5			—			0.5			—			—			—			—			—			—
Prior year partner investment expense (net of tax)		6.2			0.9			7.1			—			—			—			—			—			—
Net income (loss) after special charges		0.4			(0.9	)		(0.6	)		8.8			(0.4	)		8.4			7.7			(0.2	)		7.6
EPS (after special charges)	$	0.01		$	(0.03	)	$	(0.02	)	$	0.33		$	(0.01	)	$	0.32		$	0.29		$	(0.01	)	$	0.28
Revenues		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%
Restaurant operating profit		18.2	%		16.1	%		18.0	%		18.7	%		15.5	%		18.3	%		18.8	%		14.9	%		18.3	%
General & administrative		4.4	%		7.3	%		4.7	%		4.6	%		7.4	%		4.9	%		4.6	%		6.5	%		4.9	%
Depreciation & amortization		3.4	%		3.9	%		3.4	%		3.4	%		4.5	%		3.5	%		3.5	%		4.5	%		3.6	%
Preopening expenses		1.2	%		2.9	%		1.4	%		0.7	%		3.6	%		1.0	%		1.3	%		2.9	%		1.5	%
Partner investment expense		1.1	%		1.5	%		1.2	%		0.4	%		1.4	%		0.5	%		0.9	%		1.2	%		0.9	%
Other income		-0.1	%		0.0	%		-0.1	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Minority interest		1.4	%		1.0	%		1.3	%		1.3	%		1.1	%		1.3	%		1.3	%		0.9	%		1.3	%
Income (loss) before tax provision and special charges		6.9	%		-0.4	%		6.0	%		8.4	%		-2.5	%		7.1	%		7.3	%		-1.1	%		6.2	%
Tax provision (before special charges)		31.5	%		31.5	%		31.5	%		31.5	%		31.5	%		31.5	%		31.5	%		31.5	%		31.5	%
Net income (before special charges)		4.7	%		-0.3	%		4.1	%		5.7	%		-1.7	%		4.8	%		5.0	%		-0.8	%		4.2	%
Legal settlement (net of tax)		0.3	%		0.0	%		0.3	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Prior year partner investment expense (net of tax)		4.1	%		4.4	%		4.2	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Net income (loss) after special charges		0.2	%		-4.7	%		-0.3	%		5.7	%		-1.7	%		4.8	%		5.0	%		-0.8	%		4.2	%

[Additional columns below]

[Continued from above table, first column(s) repeated]

	4Q04E									2004E
	Bistro			Pei Wei			Total			Bistro			Pei Wei			Total
Store weeks		1,565			695			2,260			5,601			2,254			7,855
Average weekly sales (000)		111.3			41.5			89.9			112.8			41.5			92.3
Revenues (millions)		174.2			28.8			203.1			631.9			93.5			725.3
Restaurant operating profit		33.9			4.5			38.4			118.9			14.5			133.4
General & administrative		7.5			1.8			9.3			28.2			6.3			34.6
Depreciation & amortization		5.6			1.2			6.8			21.2			4.0			25.1
Preopening expenses		1.8			0.5			2.3			6.6			2.5			9.0
Partner investment expense		1.4			0.3			1.7			4.9			1.2			6.1
Other income		(0.1	)		—			(0.1	)		(0.3	)		—			(0.3	)
Minority interest		2.4			0.3			2.7			8.6			0.9			9.5
Income (loss) before tax provision and special charges		15.3			0.5			15.8			49.7			(0.4	)		49.4
Tax provision (before special charges)		4.8			0.2			5.0			15.7			(0.1	)		15.5
Net income (before special charges)		10.5			0.3			10.8			34.1			(0.3	)		33.8
FD shares		26.9			26.9			26.9			26.7			26.7			26.7
EPS (before special charges)	$	0.39		$	0.01		$	0.40		$	1.28		$	(0.01	)	$	1.27
Legal settlement (net of tax)		—			—			—			0.5			—			0.5
Prior year partner investment expense (net of tax)		—			—			—			6.2			0.9			7.1
Net income (loss) after special charges		10.5			0.3			10.8			27.4			(1.1	)		26.2
EPS (after special charges)	$	0.39		$	0.01		$	0.40		$	1.02		$	(0.04	)	$	0.98
Revenues		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%
Restaurant operating profit		19.5	%		15.6	%		18.9	%		18.8	%		15.5	%		18.4	%
General & administrative		4.3	%		6.2	%		4.6	%		4.5	%		6.8	%		4.8	%
Depreciation & amortization		3.2	%		4.1	%		3.3	%		3.3	%		4.2	%		3.5	%
Preopening expenses		1.0	%		1.6	%		1.1	%		1.0	%		2.7	%		1.2	%
Partner investment expense		0.8	%		1.0	%		0.8	%		0.8	%		1.3	%		0.8	%
Other income		0.0	%		0.0	%		0.0	%		-0.1	%		0.0	%		0.0	%
Minority interest		1.4	%		1.0	%		1.3	%		1.4	%		1.0	%		1.3	%
Income (loss) before tax provision and special charges		8.8	%		1.8	%		7.8	%		7.9	%		-0.4	%		6.8	%
Tax provision (before special charges)		31.5	%		31.5	%		31.5	%		31.5	%		31.5	%		31.5	%
Net income (before special charges)		6.0	%		1.2	%		5.3	%		5.4	%		-0.3	%		4.7	%
Legal settlement (net of tax)		0.0	%		0.0	%		0.0	%		0.1	%		0.0	%		0.1	%
Prior year partner investment expense (net of tax)		0.0	%		0.0	%		0.0	%		1.0	%		0.9	%		1.0	%
Net income (loss) after special charges		6.0	%		1.2	%		5.3	%		4.3	%		-1.2	%		3.6	%

Page 9 of 10

P.F. Chang’s China Bistro, Inc.

2004 Forecast vs 2003 Actual

	1Q03			1Q04E			Change			2Q03			2Q04E			Change			3Q03			3Q04E			Change
Store weeks		1,303			1,761			35.1	%		1,375			1,849			34.5	%		1,450			1,985			36.9	%
Average weekly sales (000)		101.0			96.4			-4.5	%		99.3			93.9			-5.5	%		96.4			90.1			-6.5	%
Revenues (millions)		131.6			169.8			29.0	%		136.6			173.6			27.1	%		139.7			178.8			28.0	%
Restaurant operating profit		25.3			30.5						25.9			31.8						26.2			32.7
General & administrative		6.8			8.0						7.3			8.6						6.9			8.7
Depreciation & amortization		4.2			5.8						4.5			6.1						4.7			6.4
Preopening expenses		2.0			2.3						1.2			1.8						2.6			2.7
Partner investment expense		0.8			2.0						0.9			0.9						1.6			1.7
Other income		(0.0	)		(0.1	)					0.0			(0.1	)					0.1			(0.1	)
Minority interest		2.0			2.3						2.0			2.3						2.0			2.3
Income (loss) before tax provision and special charges		9.6			10.3						9.9			12.3						8.3			11.0
Tax provision (before special charges)		3.3			3.2						3.3			3.9						2.7			3.5
Net income (before special charges)		6.4			7.0			9.8	%		6.6			8.4			27.6	%		5.5			7.6			36.6	%
FD shares		26.0			26.4						26.2			26.6						26.3			26.8
EPS (before special charges)	$	0.25		$	0.27			8.1	%	$	0.25		$	0.32			25.7	%	$	0.21		$	0.28			34.1	%
Legal settlement (net of tax)		—			0.5						—			—						—			—
Prior year partner investment expense (net of tax)		—			7.1						—			—						—			—
Net income (loss) after special charges		—			(0.6	)					—			8.4						—			7.6
EPS (after special charges)	$	0.25		$	(0.02	)		-108.5	%	$	0.25		$	0.32			25.7	%	$	0.21		$	0.28			34.1	%
Revenues		100.0	%		100.0	%					100.0	%		100.0	%					100.0	%		100.0	%
Restaurant operating profit		19.2	%		18.0	%					18.9	%		18.3	%					18.7	%		18.3	%
General & administrative		5.2	%		4.7	%					5.4	%		4.9	%					4.9	%		4.9	%
Depreciation & amortization		3.2	%		3.4	%					3.3	%		3.5	%					3.4	%		3.6	%
Preopening expenses		1.5	%		1.4	%					0.9	%		1.0	%					1.9	%		1.5	%
Partner investment expense		0.6	%		1.2	%					0.7	%		0.5	%					1.2	%		0.9	%
Other income		0.0	%		-0.1	%					0.0	%		0.0	%					0.0	%		0.0	%
Minority interest		1.5	%		1.3	%					1.5	%		1.3	%					1.4	%		1.3	%
Income (loss) before tax provision and special charges		7.3	%		6.0	%					7.3	%		7.1	%					5.9	%		6.2	%
Tax provision (before special charges)		33.5	%		31.5	%					33.5	%		31.5	%					33.5	%		31.5	%
Net income (before special charges)		4.9	%		4.1	%					4.8	%		4.8	%					4.0	%		4.2	%
Legal settlement (net of tax)		0.0	%		0.3	%					0.0	%		0.0	%					0.0	%		0.0	%
Prior year partner investment expense (net of tax)		0.0	%		4.2	%					0.0	%		0.0	%					0.0	%		0.0	%
Net income (loss) after special charges		4.9	%		-0.3	%					4.8	%		4.8	%					4.0	%		4.2	%

[Additional columns below]

[Continued from above table, first column(s) repeated]

	4Q03			4Q04E			Change			2003			2004E			Change
Store weeks		1,620			2,260			39.5	%		5,748			7,855			36.7	%
Average weekly sales (000)		93.4			89.9			-3.8	%		97.3			92.3			-5.1	%
Revenues (millions)		151.3			203.1			34.2	%		559.2			725.3			29.7	%
Restaurant operating profit		29.1			38.4						106.5			133.4
General & administrative		7.7			9.3						28.8			34.6
Depreciation & amortization		5.4			6.8						18.8			25.1
Preopening expenses		2.9			2.3						8.7			9.0
Partner investment expense		0.9			1.7						4.2			6.1
Other income		(0.1	)		(0.1	)					(0.0	)		(0.3	)
Minority interest		2.0			2.7						7.9			9.5
Income (loss) before tax provision and special charges		10.4			15.8						38.2			49.4
Tax provision (before special charges)		3.5			5.0						12.8			15.5
Net income (before special charges)		6.9			10.8			57.7	%		25.4			33.8			33.2	%
FD shares		26.4			26.9						26.3			26.7
EPS (before special charges)	$	0.26		$	0.40			54.6	%	$	0.97		$	1.27			30.9	%
Legal settlement (net of tax)		—			—						—			0.5
Prior year partner investment expense (net of tax)		—			—						—			7.1
Net income (loss) after special charges		—			10.8						—			26.2
EPS (after special charges)	$	0.26		$	0.40			54.6	%	$	0.97		$	0.98			1.5	%
Revenues		100.0	%		100.0	%					100.0	%		100.0	%
Restaurant operating profit		19.3	%		18.9	%					19.0	%		18.4	%
General & administrative		5.1	%		4.6	%					5.1	%		4.8	%
Depreciation & amortization		3.6	%		3.3	%					3.4	%		3.5	%
Preopening expenses		1.9	%		1.1	%					1.5	%		1.2	%
Partner investment expense		0.6	%		0.8	%					0.8	%		0.8	%
Other income		-0.1	%		0.0	%					0.0	%		0.0	%
Minority interest		1.3	%		1.3	%					1.4	%		1.3	%
Income (loss) before tax provision and special charges		6.8	%		7.8	%					6.8	%		6.8	%
Tax provision (before special charges)		33.5	%		31.5	%					33.5	%		31.5	%
Net income (before special charges)		4.5	%		5.3	%					4.5	%		4.7	%
Legal settlement (net of tax)		0.0	%		0.0	%					0.0	%		0.1	%
Prior year partner investment expense (net of tax)		0.0	%		0.0	%					0.0	%		1.0	%
Net income (loss) after special charges		4.5	%		5.3	%					4.5	%		3.6	%

Page 10 of 10