-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CKDaPhCu57HykxTjkN7T0SfJM07hPxYhHNOnUSGQt2EPI1aNbDP24byZmijcXWvl WXnoWNo0s0kQ3RQ4b7AMsA== 0000950144-05-003559.txt : 20050405 0000950144-05-003559.hdr.sgml : 20050405 20050405171614 ACCESSION NUMBER: 0000950144-05-003559 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050405 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20050405 DATE AS OF CHANGE: 20050405 FILER: COMPANY DATA: COMPANY CONFORMED NAME: O CHARLEYS INC CENTRAL INDEX KEY: 0000864233 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 621192475 STATE OF INCORPORATION: TN FISCAL YEAR END: 1227 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18629 FILM NUMBER: 05734916 BUSINESS ADDRESS: STREET 1: 3038 SIDCO DR CITY: NASHVILLE STATE: TN ZIP: 37204 BUSINESS PHONE: 6152568500 MAIL ADDRESS: STREET 1: 3038 SIDEO DR CITY: NASHVILLE STATE: TN ZIP: 37204 8-K 1 g94333e8vk.htm O'CHARLEY'S INC. O'CHARLEY'S INC.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 5, 2005 (April 5, 2005)

 
O’CHARLEY’S INC.

 
(Exact Name of Registrant as Specified in Charter)
         
Tennessee   0-18629   62-1192475

 
 
 
 
 
(State or Other Jurisdiction   (Commission   (I.R.S. Employer
of Incorporation)   File Number)   Identification No.)
     
3038 Sidco Drive    
Nashville, Tennessee   37204

 
 
 
(Address of Principal Executive Offices)   (Zip Code)
 
(615) 256-8500

 
(Registrant’s Telephone Number, Including Area Code)
 
Not Applicable

 
(Former Name or Former Address, if Changed Since Last Report)

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



 


TABLE OF CONTENTS

Item 7.01. Regulation FD Disclosure
SIGNATURES


Table of Contents

Item 7.01. Regulation FD Disclosure

     Set forth below is certain unaudited statement of earnings information for O’Charley’s Inc. for each of the quarters in the fiscal years ended December 28, 2003 and December 26, 2004. The information for fiscal 2003 and for the first three quarters of fiscal 2004 has been restated to conform to the restated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 26, 2004. See Note 2 to the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 26, 2004 for a discussion of the nature of the restatement. Certain reclassifications have been made to the prior year amounts to conform to the current year presentation.

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O’Charley’s Inc. and Subsidiaries
Quarterly Consolidated Statements of Earnings Data
(Unaudited)

                                 
    Fiscal Year 2004  
    First     Second     Third     Fourth  
(In thousands, except per share data)   Quarter     Quarter     Quarter     Quarter  
    (restated)     (restated)     (restated)      
Revenues:
                               
Restaurant sales
  $ 265,005     $ 199,645     $ 198,694     $ 200,915  
Commissary sales
    2,738       1,510       1,518       1,269  
Franchise revenue
                65       27  
 
                       
 
    267,743       201,155       200,277       202,211  
 
                       
Costs and Expenses:
                               
Cost of restaurant sales:
                               
Cost of food and beverage
    79,641       61,814       60,859       58,699  
Payroll and benefits
    90,588       66,551       65,798       67,577  
Restaurant operating costs
    47,169       36,129       37,224       36,969  
Cost of commissary sales
    2,581       1,430       1,435       1,185  
Advertising, general and administrative expenses
    18,952       14,343       14,645       15,814  
Depreciation and amortization
    11,575       9,131       9,401       9,691  
Pre-opening costs
    1,882       1,201       1,739       1,086  
 
                       
 
    252,388       190,599       191,101       191,021  
 
                       
Income from Operations
    15,355       10,556       9,176       11,190  
Other (Income) Expense:
                               
Interest expense, net
    3,964       3,127       3,159       3,226  
Other, net
    31       (23 )     98       14  
 
                       
 
    3,995       3,104       3,257       3,240  
 
                       
Earnings Before Income Taxes
    11,360       7,452       5,919       7,950  
Income Taxes
    3,806       2,336       1,812       1,408  
 
                       
Net earnings
  $ 7,554     $ 5,116     $ 4,107     $ 6,542  
 
                       
Basic Earnings per Share:
                               
Net Earnings
  $ 0.34     $ 0.23     $ 0.18     $ 0.29  
Weighted Average Shares Outstanding
    22,167       22,249       22,347       22,432  
Diluted Earnings per Share:
                               
Net Earnings
  $ 0.33     $ 0.23     $ 0.18     $ 0.29  
Weighted Average Shares Outstanding
    22,577       22,653       22,636       22,740  

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Table of Contents

O’Charley’s Inc. and Subsidiaries
Quarterly Consolidated Statements of Earnings Data
(Unaudited and restated)

                                 
    Fiscal Year 2003  
    First     Second     Third     Fourth  
(In thousands, except per share data)   Quarter     Quarter     Quarter     Quarter  
Revenues:
                               
Restaurant sales
  $ 213,282     $ 178,011     $ 180,528     $ 181,919  
Commissary sales
    1,802       1,203       1,192       1,074  
 
                       
 
    215,084       179,214       181,720       182,993  
 
                       
Costs and Expenses:
                               
Cost of restaurant sales:
                               
Cost of food and beverage
    59,327       51,537       54,684       55,658  
Payroll and benefits
    69,375       59,255       61,494       62,291  
Restaurant operating costs
    38,964       32,044       34,303       33,894  
Cost of commissary sales
    1,692       1,131       1,131       1,016  
Advertising, general and administrative expenses
    16,122       12,385       12,010       11,687  
Depreciation and amortization
    9,959       8,647       8,817       8,937  
Pre-opening costs
    2,538       1,744       1,714       903  
 
                       
 
    197,977       166,743       174,153       174,386  
 
                       
Income from Operations
    17,107       12,471       7,567       8,607  
Other (Income) Expense:
                               
Interest expense, net
    3,747       3,414       3,264       3,728  
Debt extinguishment charge
                      1,800  
Other, net
    (43 )     (80 )     25       (554 )
 
                       
 
    3,704       3,334       3,289       4,974  
 
                       
Earnings Before Income Taxes
    13,403       9,137       4,278       3,633  
Income Taxes
    4,635       3,151       1,008       467  
 
                       
Net earnings
  $ 8,768     $ 5,986     $ 3,270     $ 3,166  
 
                       
Basic Earnings per Share:
                               
Net Earnings
  $ 0.42     $ 0.28     $ 0.15     $ 0.14  
Weighted Average Shares Outstanding
    20,721       21,669       22,028       22,102  
Diluted Earnings per Share:
                               
Net Earnings
  $ 0.40     $ 0.27     $ 0.15     $ 0.14  
Weighted Average Shares Outstanding
    21,745       22,542       22,540       22,500  

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Table of Contents

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
         
  O’CHARLEY’S INC.
 
 
  By:   /s/ Lawrence E. Hyatt    
    Lawrence E. Hyatt   
    Chief Financial Officer, Secretary and Treasurer   
 

Date: April 5, 2005

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