Exhibit 99.1
PRESS RELEASE
Contact:   Michele Harrison
Vice President, Investor Relations (314-633-4282)
Panera Bread Reports Q4 EPS of $0.84 (including $0.03 in charges), up 50% over Q4 2007
HIGHLIGHTS
  Q4 2008 operating profit up 35% over Q4 2007 on revenue growth of 19%
 
  Q4 2008 system-wide comparable bakery-cafe sales up 2.7%
 
  FY 2008 EPS growth of 24% versus fiscal 2007
 
  FY 2009 EPS target re-affirmed at $2.55 to $2.71 (up 15% to 22% versus 2008)
 
  Q1 2009 EPS target set at $0.53 to $0.59 (up 29% to 44% versus Q1 2008)
St. Louis, MO, February 12, 2009 — Panera Bread Company (Nasdaq:PNRA) today reported net income of $26 million, or $0.84 per diluted share, for the fourth quarter ended December 30, 2008, including $0.03 per diluted share of charges. These charges include a $0.01 net charge for a write-off of the Company’s investment in the Columbia Strategic Cash Portfolio, a $0.01 charge for the write-off of assets associated with the roll-out of the Company’s new coffee program and a $0.01 charge for reserves associated with legal settlements. These results compare to net income of $18 million, or $0.56 per diluted share, for the fourth quarter ended December 25, 2007.
For the fiscal year ended December 30, 2008, net income was $67 million, or $2.22 per diluted share. These results compare to net income of $57 million, or $1.79 per diluted share, for the fiscal year ended December 25, 2007, representing a 24% year-on-year growth rate.
Of note, the Company’s results for the fourth quarter and full year 2008 were comprised of 14 and 53 weeks, respectively, compared to a 13 week fourth quarter and 52 week fiscal year in 2007. The Company’s fourth quarter and full year 2008 consolidated statements of operations and margin analysis are attached as Schedule I. The following tables set forth, for the periods indicated, certain items included in the Company’s consolidated statements of operations (in thousands, except per share data and percentages):
                         
    For the 14 Weeks     For the 13 Weeks        
    Ended     Ended     Percentage  
    December 30, 2008     December 25, 2007     Change  
Total revenue
  $ 357,812     $ 300,843       19 %
Operating profit
  $ 41,668     $ 30,849       35 %
Net income
  $ 25,549     $ 17,834       43 %
Diluted earnings per share
  $ 0.84     $ 0.56       50 %
Shares used in diluted EPS
    30,576       32,098          

 

 


The following information was filed by Panera Bread Co (PNRA) on Friday, February 13, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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