Year Ended

December 29,

2002

December 30,

2001

December 31,

2000

Revenues:

Restaurant

$

265,517,963

$

214,963,264

$

180,413,546

Franchise royalties and fees

8,565,076

9,002,090

8,247,439

Rent revenue

327,335

519,408

509,514

Total revenues

274,410,374

224,484,762

189,170,499

Costs and Expenses:

Restaurant operating costs:

Cost of sales

61,083,659

50,913,947

43,945,312

Labor

94,029,978

74,853,721

64,565,631

Operating

40,428,110

33,194,842

27,959,620

Occupancy

18,095,094

14,785,060

11,519,135

Restaurant closures and impairment

1,132,814

36,359

1,302,186

Depreciation and amortization

12,883,405

10,491,058

8,065,141

General and administrative

20,356,940

16,844,988

17,116,344

Franchise development

3,256,080

3,703,485

3,386,169

Pre-opening costs

1,879,360

920,845

2,506,387

Gain on lease buy-out

(944,985

)

—  

—  

Impairment of real estate held for sale

150,000

—  

—  

Total costs and expenses

252,350,455

205,744,305

180,365,925

Income from operations

22,059,919

18,740,457

8,804,574

Other (Income) Expense:

Interest expense

5,768,499

7,850,101

6,482,028

Interest income

(397,904

)

(746,344

)

(741,521

)

Loss on early extinguishment of debt

4,336,439

—  

—  

Other

8,379

190,437

190,715

Total other expenses

9,715,413

7,294,194

5,931,222

Income before income taxes

12,344,506

11,446,263

2,873,352

Provision for income taxes

(4,081,177

)

(3,722,257

)

12,557,195

Net income

$

8,263,329

$

7,724,006

$

15,430,547

Net income per share:

Basic

$

0.67

$

0.77

$

2.07

Diluted

$

0.65

$

0.75

$

2.07

Weighted average shares outstanding:

Basic

12,278,185

10,085,468

7,443,893

Diluted

12,660,133

10,235,917

7,443,893