BUFFALO WILD WINGS INC (BWLD) [Rocket]

In millions, except per share items	Dec-25-16	Dec-27-15	Dec-28-14	Dec-29-13	Dec-30-12	Dec-25-11	Dec-26-10	Dec-27-09
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Company-Owned	1,891.6	1,715.0	1,423.0	1,185.4	964.0	717.4	555.2	488.7
Franchised	95.2	97.7	93.2	81.4	76.6	67.1	58.1	50.2
Total revenues [+]	1,986.8	1,812.7	1,516.2	1,266.7	1,040.5	784.5	613.3	538.9
Products	1,891.6	1,715.0	1,423.0	1,185.4	964.0	717.4	555.2	488.7
Food & beverage				1,185.4	964.0	717.4
Franchise	95.2	97.7	93.2	81.4	76.6	67.1	58.1	50.2
Revenue growth [+]	9.6%	19.6%	19.7%	21.7%	32.6%	27.9%	13.8%	27.6%
Company-Owned	10.3%	20.5%	20.0%	23.0%	34.4%	29.2%	13.6%	28.7%
Franchised	-2.6%	4.8%	14.6%	6.3%	14.1%	15.5%	15.6%	17.5%
Unit growth	5.5%	8.6%	9.0%	11.4%
Cost of goods sold [+]	1,557.7	1,396.0	1,146.6	966.8	788.4	572.6	453.3	402.9
Labor costs	599.0	542.8	444.2	360.3	289.2	215.6	167.2	146.6
Other cost of sales	285.1	250.8	209.6	174.3	141.4	109.7	88.7	76.4
Lease costs	108.9	94.6	78.9	68.4	54.1	44.0	36.5	32.4
Direct materials costs	564.7	507.8	413.9	363.8	303.7	203.3	160.9	147.7
Other direct costs	285.1	250.8	209.6	174.3	141.4	109.7	88.7	76.4
Gross profit	429.1	416.7	369.6	299.9	252.1	211.9	160.0	136.0
Gross margin	21.6%	23.0%	24.4%	23.7%	24.2%	27.0%	26.1%	25.2%
Selling, general and administrative [+]	123.1	129.1	118.0	96.2	84.1	72.7	54.0	49.4
General and administrative	123.1	129.1	118.0	96.2	84.1	72.7	54.0	49.4
Other operating expenses	13.2	21.1	17.1	17.9	17.5	16.3	10.4	9.6
EBITDA [+]	292.8	266.5	234.5	185.9	150.5	122.9	95.5	77.0
EBITDA growth	9.9%	13.6%	26.2%	23.5%	22.4%	28.6%	24.2%	30.4%
EBITDA margin	14.7%	14.7%	15.5%	14.7%	14.5%	15.7%	15.6%	14.3%
Depreciation	133.8	120.1	93.8	79.9	64.2	49.0	38.6	32.6
EBITA	159.0	146.4	140.7	106.0	86.3	73.9	57.0	44.4
EBITA margin	8.0%	8.1%	9.3%	8.4%	8.3%	9.4%	9.3%	8.2%
Amortization of intangibles	18.3	7.4	4.7	5.1	3.3	0.9	0.6	0.0
EBIT [+]	140.7	139.0	136.0	100.9	83.0	73.0	56.3	44.4
EBIT growth	1.2%	2.2%	34.8%	21.5%	13.8%	29.5%	27.0%	25.3%
EBIT margin	7.1%	7.7%	9.0%	8.0%	8.0%	9.3%	9.2%	8.2%
Non-recurring items [+]	4.0	0.5	0.3	0.0	0.4	0.2
Business exit costs	0.3	0.5	0.3	0.0	0.4	0.2
Interest expense, net [+]	2.7	1.0	0.1	-0.7	-0.8	-0.1	-0.7	-1.1
Interest expense	4.2	1.7	0.2
Interest income	1.5	0.7	0.1	0.7	0.8	0.1	0.7	1.1
Other income (expense), net		-1.3	-0.2
Pre-tax income	134.0	136.1	135.4	101.5	83.4	72.9	57.0	45.4
Income taxes	39.8	41.3	41.4	30.0	26.1	22.5	18.6	14.8
Tax rate	29.7%	30.3%	30.5%	29.5%	31.3%	30.8%	32.7%	32.5%
Minority interest	-0.5	-0.2	0.0
Net income	94.7	95.1	94.1	71.6	57.3	50.4	38.4	30.7
Net margin	4.8%	5.2%	6.2%	5.6%	5.5%	6.4%	6.3%	5.7%

Basic EPS [+]	$5.14	$5.00	$4.98	$3.81	$3.08	$2.75	$2.11	$1.70
Growth	2.7%	0.5%	30.5%	23.7%	12.1%	30.2%	24.1%	24.1%
Diluted EPS [+]	$5.12	$4.97	$4.95	$3.79	$3.06	$2.73	$2.10	$1.69
Growth	3.1%	0.3%	30.6%	23.8%	12.2%	29.8%	24.6%	24.3%

Shares outstanding (basic) [+]	18.4	19.0	18.9	18.8	18.6	18.3	18.2	18.0
Growth	-3.0%	0.6%	0.7%	1.0%	1.3%	0.9%	0.9%	1.1%
Shares outstanding (diluted) [+]	18.5	19.1	19.0	18.9	18.7	18.5	18.3	18.2
Growth	-3.3%	0.7%	0.7%	0.9%	1.2%	1.2%	0.5%	1.0%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.