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%  | 
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  | 
Find out why Fools always follow the money.
Related Companies:
- Applebee's (NASDAQ:APPB)
 - Cheesecake Factory (NASDAQ:CAKE)
 - McDonald's (NYSE:MCD)
 - Outback Steakhouse (NYSE:OSI)
 - Yum! Brands (NYSE:YUM)
 
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 - Foolish Fundamentals: Inventory
 
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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.