On Feb. 7, Buffalo Wild Wings (NASDAQ:BWLD) released Q4 2005 earnings for the period ended Dec. 25.

  • Total revenue grew 21% as restaurant sales exceeded $52 million.
  • The company reported diluted EPS of $0.30, but this includes $0.08 from an impairment charge related to an asset writedown of its Atlanta restaurants.
  • Excluding the impairment charge, operating margins grew 21%.

(Figures in thousands, except per-share data)

Income Statement Highlights

Avg. Est.

Q4 2005

Q4 2004

% Change

Sales

$58,770

$58,952

$48,606

+21.3%

Net Profit*

--

$2,618

$2,424

+8.0%

EPS*

$0.34

$0.30

$0.28

+7.1%

*Includes a pre-tax $1.1 million impairment charge.

Get back to basics with a look at the income statement.

Margin Checkup

Q4 2005

Q4 2004

Change

Gross Margin

72.60%

71.23%

+1.37%

Op. Margin

6.37%

6.74%

-0.37%

Net Margin

4.44%

4.99%

-0.55%



Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q4 2005

Q4 2004

% Change

Cash + ST Invest.

$52,404

$49,011

+6.9%

Inventory

$1,502

$1,207

+24.4%

Accounts Rec.

$4,431

$2,766

+60.2%



Liabilities

Q4 2005

Q4 2004

% Change

Long-Term Debt

--

--

N/A

Accounts Pay.

$6,628

$5,383

+23.1%



Cash Flow Highlights*

2005

2004

% Change

Cash From Ops.

$24,700

$21,362

+15.6%

Capital Expend.

$21,947

$23,310

-5.8%

Free Cash Flow

$2,753

$(1,948)

N/A

*Cash flow numbers are for the full year ended Dec. 25.

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Related Companies:

  • Applebee's (NASDAQ:APPB)
  • Cheesecake Factory (NASDAQ:CAKE)
  • McDonald's (NYSE:MCD)
  • Outback Steakhouse (NYSE:OSI)
  • Yum! Brands (NYSE:YUM)

Related Foolishness:

BuffaloWild Wings is a Motley Fool Hidden Gemsselection. For more about Tom Gardner's market-beating newsletter, click here.

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At the time of publication, Fool analyst Andy Cross did not own shares in any company mentioned. Fool rules are here.