Shake Shack Inc. (SHAK) 10-K Annual Report March 2016

NEW YORK, NY (Business Wire) — March 7, 2016 — Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE: SHAK), today reported financial results for the fourth quarter and fiscal year ended December 30, 2015, periods that included 13 and 52 weeks, respectively.

Financial Highlights for the Fourth Quarter 2015:


▪	Total revenue increased 46.8% to $51.1 million.


▪	Shack sales increased 49.2% to $49.3 million.


▪	Same-Shack sales increased 11.0%.


▪	Shack-level operating profit*, a non-GAAP measure, increased 88.1% to $13.9 million, or 28.2% of Shack sales.


▪	Adjusted EBITDA*, a non-GAAP measure, increased 104.5% to $9.9 million.


▪	Net income was $1.2 million, or $0.07 per diluted share.


▪	Adjusted pro forma net income*, a non-GAAP measure, was $2.9 million, or $0.08 per fully exchanged and diluted share, compared to an adjusted pro forma net loss of $(0.3) million, or $(0.01) per fully exchanged and diluted share in the prior year period.


▪	9 system-wide Shack openings, including three domestic company-operated Shacks and six international licensed Shacks.

Financial Highlights for the Fiscal Year 2015:


▪	Total revenue increased 60.8% to $190.6 million.


▪	Shack sales increased 63.5% to $183.2 million.


▪	Same-Shack sales increased 13.3%.


▪	Shack-level operating profit*, a non-GAAP measure, increased 96.8% to $52.9 million, or 28.9% of Shack sales.


▪	Adjusted EBITDA*, a non-GAAP measure, increased 117.7% to $41.1 million.


▪	Net loss was $(8.8) million, or $(0.65) per diluted share.


▪	Adjusted pro forma net income*, a non-GAAP measure, increased 154.9% to $12.0 million, or $0.32 per fully exchanged and diluted share, compared to $4.7 million, or $0.13 per fully exchanged and diluted share in the prior year period.


▪	21 system-wide Shack openings, including 13 domestic company-operated Shacks and 8 international licensed Shacks, representing a 33.3% increase in system-wide Shack count.

* Shack-level operating profit, adjusted EBITDA and adjusted pro forma net income are non-GAAP measures. Reconciliations of Shack-level operating profit to operating income, adjusted EBITDA to net income (loss), and adjusted pro forma net income (loss) to net income (loss), the most directly comparable financial measures presented in accordance with GAAP, are set forth in the schedules accompanying this release. See “Non-GAAP Financial Measures.”

Randy Garutti, Chief Executive Officer of Shake Shack, stated, “We are very proud of what we have been able to accomplish in our first year as a public company. 2015 marked a record year for Shake Shack in nearly all metrics, and we will continue to execute our stated growth strategy and connect with our guests the world over. During the fourth quarter we opened three domestic company-operated Shacks and six international Shacks including our first Shack in Tokyo in the Meiji-Jingu Gaien park. Looking ahead, 2016 is shaping up to be another outstanding year with a strong pipeline of new domestic openings, and plans to enter four new markets."

The following information was filed by Shake Shack Inc. (SHAK) on Monday, March 7, 2016 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Shake Shack Inc. provided additional information to their SEC Filing as exhibits

Exhibit 21: Subsidiaries Of The Registrant

Exhibit 23: Consent Of Independent Registered Public Accounting Firm

Exhibit 31.1: Certification Of Ceo Pursuant To Section 302

Exhibit 31.2: Certification Of Cfo Pursuant To Section 302

Exhibit 32: Certifications Of Ceo And Cfo Pursuant To Section 906

Ticker: SHAK
CIK: 1620533
Form Type: 10-K Annual Report
Accession Number: 0001620533-16-000187
Submitted to the SEC: Wed Mar 30 2016 5:02:29 PM EST
Accepted by the SEC: Wed Mar 30 2016
Period: Wednesday, December 30, 2015
Industry: Retail Eating And Drinking Places