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Restatement of Previously Issued Financial Statements (Tables)

3 Months Ended

9 Months Ended

Jun. 26, 2010

Restatement of Previously Issued Financial Statements

	As Prevously Reported on Form 10-Q			Inter-Company Elimination Adjustments			Third Party Royalty Adjustments			Marketing and Customer Incentive Expense Adjustments			Other Adjustments			As Restated

Net sales	$	311,514		$	5,488		$	(2,756	)	$	(820	)	$	3,157		$	316,583
Cost of sales		201,783			6,657			(3,695	)		—			2,953			207,698

Gross profit		109,731			(1,169	)		939			(820	)		204			108,885

Selling and operating expenses		46,277			—			—			(590	)		—			45,687
General and administrative expenses		25,267			—			—			—			—			25,267
Patent litigation (settlement) expense		—			—			—			—			—			—

Operating income		38,187			(1,169	)		939			(230	)		204			37,931

Other income (expense)		27			—			—			—			—			27
Gain (loss) on financial instruments, net		—			—			—			—			—			—
Gain (loss) on foreign currency, net		—			—			—			—			—			—
Interest expense		(1,495	)		—			—			—			—			(1,495	)

Income before income taxes		36,719			(1,169	)		939			(230	)		204			36,463

Income tax expense		(18,165	)		465			(374	)		92			(81	)		(18,063	)

Net income	$	18,554		$	(704	)	$	565		$	(138	)	$	123		$	18,400


Basic income per share:
Basic weighted average shares outstanding		131,677,459			131,677,459			131,677,459			131,677,459			131,677,459			131,677,459
Net income per common share - basic	$	0.14		$	(0.01	)	$	0.00		$	(0.00	)	$	0.00		$	0.14	*

Diluted income per share:
Diluted weighted average shares outstanding		137,898,253			137,898,253			137,898,253			137,898,253			137,898,253			137,898,253
Net income per common share - diluted	$	0.13		$	(0.01	)	$	0.00		$	(0.00	)	$	0.00		$	0.13	*

*	Does not add due to rounding.

	As Prevously Reported on Form 10-Q			Inter-Company Elimination Adjustments			Third Party Royalty Adjustments			Marketing and Customer Incentive Expense Adjustments			Other Adjustments			As Restated

Net sales	$	985,792		$	13,669		$	(12,632	)	$	(4,059	)	$	918		$	983,688
Cost of sales		665,584			18,771			(13,765	)		—			786			671,376

Gross profit		320,208			(5,102	)		1,133			(4,059	)		132			312,312

Selling and operating expenses		144,835			—			—			(2,522	)		—			142,313
General and administrative expenses		72,903			—			—			—			—			72,903
Patent litigation (settlement) expense		—			—			—			—			—			—

Operating income		102,470			(5,102	)		1,133			(1,537	)		132			97,096

Other income (expense)		137			—			—			—			—			137
Gain (loss) on financial instruments, net		(354	)		—			—			—			—			(354	)
Gain (loss) on foreign currency, net		—			—			—			—			—			—
Interest expense		(3,376	)		—			—			—			—			(3,376	)

Income before income taxes		98,877			(5,102	)		1,133			(1,537	)		132			93,503

Income tax expense		(43,127	)		2,030			(451	)		612			(52	)		(40,988	)

Net income	$	55,750		$	(3,072	)	$	682		$	(925	)	$	80		$	52,515


Basic income per share:
Basic weighted average shares outstanding		131,303,879			131,303,879			131,303,879			131,303,879			131,303,879			131,303,879
Net income per common share - basic	$	0.42		$	(0.02	)	$	0.01		$	(0.01	)	$	0.00		$	0.40

Diluted income per share:
Diluted weighted average shares outstanding		137,681,766			137,681,766			137,681,766			137,681,766			137,681,766			137,681,766
Net income per common share - diluted	$	0.40		$	(0.02	)	$	0.00		$	(0.01	)	$	0.00		$	0.38	*

*	Does not add due to rounding.

Consolidated Statement of Cash Flow


	As Previously Reported on Form 10-Q			Inter-Company Elimination Adjustments			Third Party Royalty Adjustments			Marketing and Customer Incentive Expense Adjustments			Other Adjustments			As Restated
Cash flows from operating activities:
Net income	$	55,750		$	(3,072	)	$	682		$	(925	)	$	80		$	52,515
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		20,379			—			—			—			—			20,379
Amortization of intangibles		9,497															9,497
Loss on disposal of fixed assets		522			—			—			—			—			522
Provision for doubtful accounts		372			—			—			—			—			372
Provision for sales returns		26,291															26,291
Unrealized (Gain) Loss on futures derivatives		(188	)		—			—			—			—			(188	)
Tax benefit (expense) from exercise of non-qualified options and disqualified dispositions of incentive stock options		25			—			—			—			—			— 25
Excess tax benefits from equity-based compensation plans		(5,626	)		—			—			—			—			(5,626	)
Tax expense from allocation of ESOP shares		—			—			—			—			—			—
Deferred income taxes		49			—			—			—			—			49
Deferred compensation and stock compensation		6,061			—			—			—			—			6,061
Contributions to the ESOP		—			—			—			—			—			—
Changes in assets and liabilities, net of effects of acquisition:
Receivables		(44,769	)		—			—			—						(44,769	)
Inventories		(35,325	)		5,102			(1,133	)		—			—			(31,356	)
Income tax payable, net		1,071			(2,030	)		451			(612	)		52			(1,068	)
Other current assets		(5,682	)		—			—			—			786			(4,896	)
Other long-term assets, net		421			—			—			—			—			421
Accounts payable		21,544			—			—			—			—			21,544
Accrued compensation costs		(3,851	)		—			—						—			(3,851	)
Accrued expenses		11,500			—			—			1,537			(918	)		12,119
Other short-term liabilities		—			—			—			—			—			—
Other long-term liabilities		—			—			—			—			—			—

Net cash provided by operating activities		58,041			—			—			—			—			58,041

Cash flows from investing activities:
Change in restricted cash		(660	)		—			—			—			—			(660	)
Proceeds from sale of short-term investments		50,000			—			—			—			—			50,000
Proceeds from receipt of note receivable		1,788			—			—			—			—			1,788
Acquisition of Timothy's Coffee of the World Inc.		(154,208	)		—			—			—			—			(154,208	)
Acquisition of Tully's Coffee Corporation		—			—			—			—			—			—
Acquisition of Diedrich Coffee, Inc.		(305,261	)		—			—			—			—			(305,261	)
Purchases of short-term investments		—			—			—			—			—			—
Capital expenditures for fixed assets		(84,386	)		—			—			—			—			(84,386	)
Proceeds from disposal of fixed assets		253			—			—			—			—			253

Net cash used for investing activities		(492,474	)		—			—			—			—			(492,474	)

Cash flows from financing activities:
Net change in revolving line of credit		57,001			—			—			—			—			57,001
Proceeds from issuance of common stock under compensation plans		4,127			—			—			—			—			4,127
Proceeds from issuance of common stock for public equity offering		—			—			—			—			—			—
Financing costs in connection with public equity offering		—			—			—			—			—			—
Excess tax benefits from equity-based compensation plans		5,626			—			—			—			—			5,626
Capital lease obligations		(42	)		—			—			—			—			(42	)
Proceeds from borrowings of long-term debt		140,000			—			—			—			—			140,000
Deferred financing fees		(1,359	)		—			—			—			—			(1,359	)
Repayment of long-term debt		(3,750	)		—			—			—			—			(3,750	)

Net cash provided by financing activities		201,603			—			—			—			—			201,603

Net (decrease) in cash and cash equivalents		(232,830	)		—			—			—			—			(232,830	)
Cash and cash equivalents at beginning of period		241,811			—			—			—			—			241,811

Cash and cash equivalents at end of period	$	8,981		$	—		$	—		$	—		$	—		$	8,981


Supplemental disclosures of cash flow information:
Fixed asset purchases included in accounts payable and not disbursed at the end of each year	$	12,549		$	—		$	—		$	—		$	—		$	12,549

Noncash investing activity:
Liabilities assumed in conjunction with acquisitions	$	1,533		$	—		$	—		$	—		$	—		$	1,533

- Definition

Tabular disclosure of the nature and effects of a restatement to correct an error in the reported results of operations of prior periods. When prior period adjustments are recorded, the resulting effects (both gross and net of applicable income tax) on the net income of prior periods are disclosed in the annual report for the year in which the adjustments are made, and amended filings of previously issued reports are typically issued.

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