Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Data (unaudited)

Quarterly Financial Data (unaudited)

20.   Quarterly Financial Data (unaudited)

Summarized unaudited quarterly financial data for fiscal 2019 and 2018 is as follows (in thousands, except per share data):

Quarter Ended:	April 2, 2019		July 2, 2019		October 1, 2019		December 31, 2019
Revenues (1)	$	599,481	$	602,645	$	586,536	$	694,030
Income from operations (1)(2)	$	30,148	$	40,099	$	26,964	$	6,387
Net income (1)(2)	$	26,984	$	35,510	$	16,090	$	48,709
Basic net income per share (4)	$	0.61	$	0.80	$	0.37	$	1.11
Diluted net income per share (4)	$	0.60	$	0.79	$	0.36	$	1.10
Cash dividends declared per common share	$	0.33	$	0.33	$	0.36	$	0.36

Quarter Ended:	April 3, 2018		July 3, 2018		October 2, 2018		January 1, 2019
Revenues	$	584,697	$	587,319	$	575,160	$	585,155
Income from operations (3)	$	31,551	$	34,543	$	33,495	$	19,359
Net income (3)	$	26,029	$	28,353	$	28,475	$	16,178
Basic net income per share (4)	$	0.57	$	0.62	$	0.63	$	0.36
Diluted net income per share (4)	$	0.56	$	0.61	$	0.61	$	0.35
Cash dividends declared per common share	$	0.29	$	0.29	$	0.33	$	0.33

(1) The fourth quarter of fiscal 2019 includes revenues, loss from operations and net loss of $92.0 million, $2.1 million, and $1.5 million, respectively related to the acquired businesses. In addition, income from operations included $3.2 million and $3.1 million of acquisition-related expense in the third and fourth quarters of fiscal 2019, respectively, with a corresponding impact to net income of $2.4 million and $2.3 million, respectively. These amounts were recorded in acquisition-related costs and acquisition-related contingent consideration, compensation and amortization expense in the consolidated statements of income. (See Note 2 for further discussion of the Acquisition.)

(2) In the fourth quarter of fiscal 2019, income from operations included impairment of assets and lease terminations expense of $18.2 million, with an corresponding impact to net income of $13.5 million. (See Note 1 for further discussion of these charges.)

(3) In fiscal 2018, income from operations included $2.6 million, $0.3 million and $15.0 million of impairment of assets and lease terminations expense in the second, third and fourth quarters, respectively, with an corresponding impact to net income of $1.9 million, $0.2 million and $11.1 million, respectively. (See Note 1 for further discussion of these charges.)

(4) Net income per share calculations for each quarter are based on the weighted average diluted shares outstanding for that quarter and may not total to the full year amount.

While seasonal fluctuations generally do not have a material impact on our quarterly results, the year-over-year comparison of our quarterly results can be significantly impacted by the number and timing of new restaurant openings and associated preopening costs, the calendar days of the week on which holidays occur, the impact from inclement weather and other climatic conditions and other variations in revenues and expenses. As a result of these factors, our financial results for any quarter are not necessarily indicative of the results that may be achieved for the full fiscal year.