Basic earnings per share excludes dilution and is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Same-store sales at Company-operated restaurants open for more than eighteen months increased by 2. Two of these obligations were entered during fiscal year 2001 and the third entered during fiscal year 2002. Clearly, she could have been more friendly and May be even apologized or offered some napkins for the mess on the side of my truck. No statement in this site is to be construed as a recommendation.
The accounting test for whether an asset held for use is impaired involves first comparing the carrying value of the asset with its estimated future undiscounted cash flows. At December 31, 2005, the Company did not have outstanding any financial derivative instruments. Additionally, competition for qualified employees could require us to pay higher wages to attract sufficient employees, which could result in higher labor costs. The Company expects to fund fiscal year 2006 capital expenditures with cash flow from operations and with funds under the loan agreement entered in February of 2003 in order to fund these budgeted capital expenditures. Future acquisitions of existing restaurants from our franchisees could result in the incurrence of contingent liabilities and impairment charges related to goodwill and other intangible assets, any of which could harm our business, results of operations and financial condition.
The restaurants also include Company-approved interior and exterior decor, equipment, fixtures, furnishings, signs, parking and site improvements. The management staff of a typical restaurant operated by the Company consists of a general manager and two assistant managers. We are not engaged in, supporting, or endorsing any specific franchise, business opportunity, company or individual. A new cost basis is established for impaired assets based on the fair value of these assets as of the date the assets are determined to be impaired. The Company and its franchisees purchase their food, beverages and supplies from Company-approved suppliers.
Thirty-two new franchised restaurants were opened in 2005, compared with thirty-one new franchised units opened in 2004. One of the restaurants closed in December 2005 and one in March 2006. Upon the opening of a new franchised restaurant, the Company sends an opening team to the restaurant to assist the franchisee during the first several days that the restaurant is open. Revenue from sales of proprietary food products is recognized when the products are shipped. Although such laws may restrict a franchisor in the termination of a franchise agreement by, for example, requiring good cause to exist as a basis for the termination, advance notice to the franchisee of the termination, an opportunity to cure a default and a repurchase of inventory or other compensation, these provisions have not had a significant effect on the Companys franchise operations. Your facilities are kept very clean.
Under our current form of area development agreement, franchisees must develop a predetermined number of restaurants in their area according to a schedule that lasts for the term of their development agreement. A new cost basis is established for impaired assets based on the fair value of these assets as of the date the assets are determined to be impaired. Fluctuations in the advertising spending as a percentage of total revenues is related to the timing of promotions and exact percentage of the advertising fees earned by the Companys National Advertising Fund that is spent on the creation of marketing tools. Financial instruments which could subject the Company to concentration of credit risk are primarily cash and cash equivalents and receivables. continue to develop and improve sales of our breakfast menu with targeted system-wide availability by 2007. The Loan Agreement contains customary affirmative and negative covenants, including without limitation, covenants regarding the sale, lease or franchise of the collateral; delivery of financial statements; maintenance of financial covenants; maintenance of books and records; payment of taxes; maintenance of existence; compliance with law and other agreements; mergers, acquisitions, sales and grants of security interest in assets; changes in management or ownership; dividends; incurrence of loans and guarantees; and conduct of business. Jill Travis Fanny Aguilar Good morning, My husband and I visited the Redondo Beach location today for dinner.
The Company believes that existing cash and funds generated from internal operations, as well as borrowings under the credit facility will meet the Companys needs for the foreseeable future. Under the terms of the agreement, at least 50% of these funds must be spent on the creation of marketing tools, such as advertising copy for use on local radio and television and other collateral material for the operating units. All three of these leases have an initial term of 15 years with a minimum of four 5-year renewal options at the discretion of the Company. The occurrence of any of the following risks could materially harm our business, financial condition, results of operations or cash flows. Our restaurants are designed to project a back yard theme that emphasizes charbroiled, freshly prepared, great tasting food, including gourmet 100% Black Angus hamburgers, chicken sandwiches and other gourmet items as customers would prepare in their own back yard.
Prior to this visit…it was 6 months and decided to give them another chance but I wont be going there ever again. We compete with numerous well-established competitors possessing substantial financial, marketing, personnel and other resources. Marketing is supported by a staff consisting of two field marketing managers who coordinate plans and implementation with a national advertising agency. The increase in other revenues is primarily due to an increase the sales of proprietary food products to franchisees. Answer 3: FatBurger was founded by in. Accordingly, further increases in the minimum wage would increase our labor costs and may have an adverse effect on the Companys operating margins. We left, and when I got home, I opened my burger packet, the large one, and as you can see it is just drenched in grease and could not be consumed could not attach video, will send from my computer.
The Company can also be expected to face competition from a broad range of other restaurants and food service establishments. Other revenues is primarily comprised of sales of proprietary food products to franchisees and payments by certain vendors of the Company primarily as contributions to the National Advertising Fund based upon purchasing volumes of our franchisees. I gave my name, the name of my son, my address and phone number to the on duty night manager. No future grants will be made from this plan. If creating a delicious product that everyone can enjoy sounds great to you, then complete a Back Yards Burgers application and find out what positions are waiting for you! The Company also had two capital lease obligations relating to the acquisition of certain restaurant equipment as of January 1, 2005. The sales performance and guest counts for our restaurants may be adversely affected in the event one or more of our competitors opens new restaurants in close proximity to our locations. The remaining funds are available for use by the Company on such items as testing and development of new products, investigating improvements in operating methods, or other purposes that the Company shall deem to be in the interest of improving operations and earnings of the Company and its franchisees.