Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 23, 2012
Sep. 25, 2011
Cash flows from operating activities:    
Net income $ 2,902 $ 3,147
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,672 3,141
Amortization of loan origination costs 241 275
Write-off of loan origination costs associated with paydown of long-term debt 1,581  
Stock-based compensation 252 263
Deferred compensation contributed by shareholder   30
Non-cash settlement with former director   70
Loss on disposal of property and equipment 21 17
Amortization of deferred lease incentives (620) (456)
Deferred income taxes 889 997
Changes in operating assets and liabilities:    
Accounts receivable (51) 104
Inventories 20 (43)
Prepaid expenses and other current assets (490) (69)
Lease incentives receivable (1,679) 2,478
Lease origination costs (103) (114)
Accounts payable 22 (240)
Accrued liabilities 3,266 3,042
Deferred lease incentives 4,288 2,325
Net cash provided by operating activities 15,211 14,967
Cash flows from investing activities:    
Purchase of property and equipment (20,118) (15,464)
Purchase of other assets (319) (226)
Net proceeds on note receivable   115
Net cash used in investing activities (20,437) (15,575)
Cash flows from financing activities:    
Payments on long-term debt (77,006) (28,330)
Borrowings on long-term debt 29,500 52,500
Dividend payments   (19,010)
Purchase of stock (22,474)  
Proceeds from sale of common stock, net of underwriting fees 81,104 83
Deferred offering costs (2,137) (281)
Borrowings under revolving line of credit 2,250  
Payments under revolving line of credit (4,950) (2,250)
Loan origination costs (327) (1,797)
Net proceeds provided by financing activities 5,960 915
Net increase in cash and cash equivilents 734 307
Cash and cash equivalents, beginning of period 2,827 3,337
Cash and cash equivalents, end of period 3,561 3,644
Supplemental cash flow disclosures:    
Interest paid 1,805 2,108
Income taxes paid 80 305
Deferred offering cost not yet paid   796
Deferred offering costs paid in 2011 reclassed to equity $ 875