Summarized unaudited quarterly financial data for fiscal 2020 and 2019 is as follows (in thousands, except per share data):

(1)

We completed the acquisition of North Italia and the remaining business of FRC on October 2, 2019. The results of the acquired businesses are included in our consolidated financial statements as of the acquisition date. (See Note 2 for further discussion of the Acquisition.)

(2)

In the first, second, third and fourth quarters of fiscal 2020, loss from operations included acquisition-related (benefit)/expenses of ($3.2) million, $0.1 million, $1.4 million and $0.5 million, with a corresponding impact to net loss of ($2.4) million, $0.1 million, $1.1 million and $0.4 million, respectively. Income from operations for the third and fourth quarters of fiscal 2019 included $3.2 million and $3.1 million of acquisition-related expenses, 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 (benefit)/expenses in the consolidated statements of income. (See Note 2 for further discussion of the Acquisition.)

(3)

In the first, second, third and fourth quarters of fiscal 2020, loss from operations included impairment of assets and lease termination expenses of $191.9 million, $2.4 million, $10.4 million and $14.6 million, with a corresponding impact to net loss of $142.0 million, $1.8 million, $7.7 million and $10.8 million, respectively. In the fourth quarter of fiscal 2019, income from operations included impairment of assets and lease termination expenses of $18.2 million, with a corresponding impact to net income of $13.5 million. (See Note 1 for further discussion of these charges.)

(4)

Net (loss)/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, year-over-year comparisons can be significantly impacted by the number and timing of new restaurant openings and associated preopening costs, the timing of holidays, the impact from inclement weather, other variations in revenues and expenses, and for the fiscal 2020 versus fiscal 2019 comparisons, by the impact of the COVID-19 pandemic and results of the Acquisition. Because of these and other factors, our financial results for any quarter are not necessarily indicative of the results that may be achieved for the full fiscal year.