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TheStreet Open House

AFC Enterprises Reports Fiscal 2012 Results; Provides Fiscal 2013 Guidance

Stocks in this article: AFCE

As a result, total global system same-store sales growth for the 12 weeks ended 12/30/12 increased to 6.2% compared to the previously reported 6.0%. Domestic franchisee restaurant same-store sales increased to 6.4% compared to the previously reported 6.3%. International franchisee restaurant same-store sales increased to 4.3% compared to the previously reported 3.5%.

For the full year, total global system same-store sales growth increased to 6.9% compared to the previously reported 6.8%. International franchisee restaurant same-store sales increased to 2.6% compared to the previously reported 2.4%.

Management’s Use of Non-GAAP Financial Measures

Adjusted earnings per diluted share, Operating EBITDA, Company-operated restaurant operating profit margins, and Free cash flow are supplemental non-GAAP financial measures. The Company uses Adjusted earnings per diluted share, Operating EBITDA, Company-operated restaurant operating profit margins, and Free cash flow, in addition to net income, operating profit and cash flows from operating activities, to assess its performance and believes it is important for investors to be able to evaluate the Company using the same measures used by management. The Company believes these measures are important indicators of its operational strength and the performance of its business. Company-operated restaurant operating profit margins, Operating EBITDA, free cash flow and adjusted earnings per diluted share as calculated by the Company are not necessarily comparable to similarly titled measures reported by other companies. In addition, Company-operated restaurant operating profit margins, Operating EBITDA, free cash flow and adjusted earnings per diluted share: (a) do not represent net income, cash flows from operations or earnings per share as defined by GAAP; (b) are not necessarily indicative of cash available to fund cash flow needs; and (c) should not be considered as an alternative to net income, earnings per share, operating profit, cash flows from operating activities or other financial information determined under GAAP.

Adjusted earnings per diluted share: Calculation and Definition

The Company defines adjusted earnings for the periods presented as the Company’s reported net income after adjusting for certain non-operating items consisting of the following:

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