Panera Bread Reports Q2 2010 Diluted EPS of $0.85, Up 31% Over Q2 2009, on 9.9% Growth in System-Wide Comparable Bakery-Cafe Sales
Q2 2010 net income increased 33% versus Q2 2009 to $27 million
Panera Bread Company (NASDAQ: PNRA) reported net income of $27 million, or $0.85 per diluted share, for the second quarter ended June 29, 2010. These results include the favorable impact of $0.01 per diluted share from the Company's repurchase of 897,556 shares under its $600 million share repurchase authorization. This favorable impact was offset by the negative impact of $0.05 per diluted share related to an on-going unclaimed property audit. The second quarter of fiscal 2010 results compare to net income of $20 million, or $0.65 per diluted share, for the second quarter ended June 30, 2009, and represent a 31% year-over-year increase in diluted earnings per share.
For the twenty-six weeks ended June 29, 2010, net income was $53 million, or $1.67 per diluted share. These results compare to net income of $37 million, or $1.21 per diluted share, for the twenty-six weeks ended June 30, 2009, and represent a 38% year-over-year increase in diluted earnings per share.
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